Chrysler
Automotive Company
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Tory Paul Godfrey to be lottery czar...at the agency. Premier Dalton McGuinty's administration was unhappy when provincial casinos awarded foreign-made Mercedes-Benz cars as prizes at the same time the government was bailing out General Motors and Chrysler. An audit last... In this article: Dalton McGuinty, Toronto, Toronto Sun, National Post, Surgery, Tories, Mercedes-Benz, and Dwight Duncan |
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washingtonpost.com | 3 days ago
GM parts suppliers return $140M from bailout
...billion in support. The Obama administration in April announced it was setting aside $5 billion from the bailout fund to help companies that supplied GM and Chrysler while the automakers went through bankruptcy filings. The total was later...
In this article: General Motors, Treasury Department, and Washington
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Detroit News | 3 days ago
The inside story of the GM, Chrysler bailouts
...believed it could not afford to let the industry fail. In the end, the GM and Chrysler bailout resulted from fortunate timing and the work of a group of unknown Wall Street veterans. Under the aegis of the White House, and without...
In this article: GM, Bankruptcy, Fiat, United Auto Workers, Henry Paulson, and Robert Nardelli
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Michigan Live | 3 days ago
Report: Obama auto task force considered plan for GM to acquire Chrysler assets if Fiat deal fell through
Report: Obama auto task force considered plan for GM to acquire Chrysler assets if Fiat deal fell through See another view of this page by choosing local coverage below. How to set your local coverage Report: Obama auto task force...
In this article: GM, Fiat SpA, Bankruptcy, GMAC, United Auto Workers, Carl Icahn, and Detroit
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Senators seek more info on dealer closures
...dealer closures WASHINGTON -- Senators are calling on General Motors and Chrysler to release more details on ongoing talks over the automakers' plans to close thousands of auto dealerships as part of their bankruptcies. In letters Friday...
In this article: General Motors, Bankruptcy, Chris Van Hollen, and Washington
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Ford fixes its own problems
...gains without resorting to big incentives. As GM and Chrysler slashed sticker prices and increased rebates, Ford cut back on incentives and raised the price of some of its most popular vehicles. As a result, the company increased its net...
In this article: Alan Mulally, GM, Bankruptcy, J.D. Power and Associates, Toyota Motor Corp., U.S., Revenue, and The Bond Buyer
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Forecast: Slow recovery could delay GM, Chrysler plans to go public
...and the troubled Opel operations." Oline sees Ford Motor Co. as the best positioned in terms of product and production to strengthen its balance sheet, while GM and Chrysler continue their restructuring. He does not rule out the need to...
In this article: General Motors, Fitch, Bankruptcy, Cash flow, Balance sheet, Toyota, and Unemployment
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Description from Wikipedia:
Chrysler Group, LLC is an American automobile manufacturer headquartered in the Detroit suburb of Auburn Hills, Michigan. Chrysler was first organized as the Chrysler Corporation in 1925. From 1998 to 2007, Chrysler and its subsidiaries were part of the German based DaimlerChrysler AG (now Daimler AG). Prior to 1998, Chrysler Corporation traded under the "C" symbol on the New York Stock Exchange. Under DaimlerChrysler, the company was named "DaimlerChrysler Motors Company LLC", with its U.S. operations generally referred to as the "Chrysler Group". On May 14, 2007, DaimlerChrysler announced the sale of 80.1% of Chrysler Group to American private equity firm Cerberus Capital Management, L.P., although Daimler continued to hold a 19.9% stake. This was when the company took on the name, Chrysler LLC.. The deal was finalized on August 3, 2007. On April 27, 2009, Daimler AG signed a binding agreement to give up its 19.9% remaining stake in Chrysler LLC to Cerberus Capital Management and pay as much as $600 million into the automaker's pension fund.
On April 30, 2009 Chrysler LLC filed for Chapter 11 bankruptcy protection and announced a plan for a partnership with Italian automaker Fiat.
On June 1, Chrysler LLC stated they were selling some assets and operations to the newly formed company Chrysler Group LLC. Fiat will hold a 20% stake in the new company, with an option to increase this to 35%, and eventually to 51%.
On June 10, 2009, the sale of most of Chrysler assets to "New Chrysler", formally known as Chrysler Group LLC was completed. The federal government financed the deal with US$6.6 billion in financing, paid to the "Old Chrysler", formally called Old Carco LLC. The transfer does not include eight manufacturing locations, nor many parcels of real estate, nor equipment leases. Contracts with 789 U.S. auto dealerships, who are being dropped, were not transferred.
- Name:
- Chrysler Group, LLC
- Type:
- Private, limited liability company
- Location City:
- Auburn Hills, Michigan
- Location Country:
- USA
- Region:
- International
- Founder:
- Walter Chrysler
- Founded:
- June 6, 1925
- Owned by:
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- Fiat S.p.A. (20%)
- UAW VEBA (67.69%)
- United States (9.85%)
- Canada (2.46%)
- Industry:
- Automotive
- Key People:
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- Sergio Marchionne
- C. Robert Kidder
- Jim Press,
- Products:
- automobiles, light trucks and vans
- No. of Employees:
- 58,000 (2008)
- Subsidiaries:
- Chrysler Canada, Chrysler Australia, GEM
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