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SATURDAY, NOVEMBER 7, 2009
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NEWS ABOUT: Chrysler

Chrysler stories: 253 news summaries

1 - 20 of 253 Stories | 1 2 3 4 5 ... 13 Next >>

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 Pay Czar Cuts 
 Bonuses, But 
 Boosts Salaries 

Feinberg beefs up base base to help firms retain talent

Oct 28, 09 1:24 AM CDT
(Newser) - Base pay will increase for the majority of top execs in the finance and auto firms supervised by federal pay czar Kenneth Feinberg. Salaries are being bumped up—by hundreds of thousands of dollars in some cases—as bonuses and other perks are slashed. Despite the salary hikes, all 136... More »

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Chrysler • Citigroup • executive compensation • Bank of America • General Motors • AIG • bonuses • executive bonuses • Kenneth Feinberg • pay czar

 Chrysler Adds Fiats, Dumps Dodge, Jeep Models

Revamped automaker will reintroduce Alfa Romeo to US

Oct 27, 09 6:54 AM CDT
(Newser) - Now four months out of bankruptcy, Chrysler is set to unveil a new business plan that relies heavily on models from Fiat, its Italian partner, and abandons many American cars. The company will reintroduce the luxury Alfa Romeo to the US and also bring in a Mexican-built Fiat 500, the... More »

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Chrysler • Dodge • auto industry • Fiat • Alfa Romeo • Jeep • Sergio Marchionne

 50% Pay Cuts 
 for Bailout Execs 
 Due Today 

Warren confirms cuts to 25 top earners at 7 companies

Oct 22, 09 9:40 AM CDT
(AP) - The Treasury Department today is expected to order seven companies that have not paid back last year's US government bailouts to halve their top executives' average compensation. The cuts apply to the 25 highest-paid executives at banks and other companies that received the most assistance, with salaries being slashed by... More »

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Chrysler • executive compensation • Bank of America • General Motors • Citibank • AIG • Treasury Department • Obama administration • Wall Street bailout • TARP • Elizabeth Warren • Kenneth Feinberg

Pay Czar Slashes Top Salaries at 7 Bailed-Out Firms

175 top earners will see pay cuts averaging 50%

Oct 21, 09 3:53 PM CDT
(Newser) - President Obama’s pay czar will cut compensation for the 25 highest-paid employees at seven companies that took large amounts of government aid. The 175 executives will face salary reductions of 90%, but with other compensation elements added in, the total reductions average 50%. Ken Feinberg also will require the... More »

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Chrysler • Citigroup • executive compensation • Bank of America • General Motors • AIG • compensation • bailout • GMAC • Wall Street bailout • pay czar

Recession Crushes
White-Collar Michigan

Layoffs, property price plunge leaves middle-aged workers in limbo

Sep 17, 09 1:26 AM CDT
(Newser) - Tens of thousands of middle-aged white-collar workers have been left jobless and stranded in Michigan by the recession, the Wall Street Journal reports. Auto industry veterans laid off by the Big Three are finding themselves competing against against younger people for a smattering of job openings. With property prices down... More »

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Chrysler • General Motors • Detroit • Michigan • recession • Ford • unemployment • auto industry • Big Three • white collar

Clunkers Drives Ford's August Sales Up 17%

Hyundai surges 47%; GM drops 20% and Chrysler 17%

Sep 1, 09 1:56 PM CDT
(Newser) - Cash for Clunkers reverberated through August auto sales reports released today, with Ford and Hyundai scoring big jumps, the Wall Street Journal reports. The winners and losers:
  • Ford's light vehicle sales rose 17% year-over-year, with the Focus and Escape both in the top eight most popular vehicles purchased through
... More »

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Chrysler • Ford • auto industry • auto sales • Cash for Clunkers

Investors Ditch Once Lofty Cerberus Fund

Failed investments in Chrysler, GMAC have clients pulling $5.5B

Aug 29, 09 3:48 PM CDT
(Newser) - Hedge-fund investors are leaving once-vaunted investment firm Cerberus Capital Management in droves, the Wall Street Journal reports. The firm, whose acquisitions of Chrysler and GMAC turned disastrous, is seeing $5.5 billion in capital—or 71% of its hedge fund assets—walk out the door. "We have been... More »

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Chrysler • Cerberus Capital Management • investors • recession • hedge fund • Stephen Feinberg • liquidity • GMAC • economic downturn

(Newser) - Chrysler is planning to produce a Fiat-branded subcompact car at a plant in Mexico, insiders tell the Wall Street Journal. The move may anger two key shareholders of the restructured automaker—the US government and the United Auto Workers. Workers at the Toluca, Mexico, plant are represented by a Mexican... More »

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Chrysler • Mexico • automaker • auto industry • subcompact • Fiat • auto bailout

(Newser) - Just because top banking executives took home hefty paychecks in recent months doesn't mean they'll get to keep the money, reports Reuters. White House pay czar Kenneth Feinberg declared he has clear authority to "claw back" egregious bonuses already paid out by any bank that received federal TARP money.... More »

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Chrysler • Citigroup • executive compensation • Bank of America • Goldman Sachs • General Motors • bailout • GMAC • American International Group • executive bonuses • Kenneth Feinberg • pay czar

Interview

Anti-Business? Didn't I Just Bail You People Out?

Obama rips financial- industry critics, refutes 'stereotypes' on Dems

Jul 30, 09 10:46 AM CDT
(Newser) - President Obama says anyone calling him “anti-business” has an awfully short memory. “It was just three or four months ago when, at great political expense, we yanked them out of the fire,” he tells BusinessWeek in a lengthy interview. And of Chrysler and General Motors bondholders, “... More »

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Barack Obama • Chrysler • taxes • General Motors • bailout • interview • President Obama • economic policies • anti-business

(Newser) - A spending bill passed by the House last night includes a provision to reopen hundreds of Chrysler dealerships and prevent the closing of over 2,000 more planned by GM, the Detroit News reports. The measure, opposed by the White House, will force the automakers to give dealers targeted for... More »

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Chrysler • General Motors • House of Representatives • auto industry • car dealers • dealership • auto bailout

(Newser) - The man tabbed by President Obama to see General Motors and Chrysler through bankruptcy is leaving the post, the New York Times reports. Though Steven Rattner’s former investment firm is under investigation, it’s unclear if that affected his decision. Treasury Secretary Tim Geithner said today that, with both... More »

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Chrysler • bankruptcy • General Motors • auto industry • Obama administration • President Obama • Steven Rattner • Ron Bloom

(Newser) - A rare sentiment emerged from the auto industry today: cautious optimism. New sales figures show that Americans bought 860,000 vehicles in June, the Wall Street Journal reports. That's down 28% from last year, but it's also the smallest monthly sales drop of the year. Ford and Toyota both declared... More »

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Chrysler • Toyota • General Motors • auto industry • auto sales • Ford Motor Co.

Jeep Wrangler
Is Star of
Reborn Chrysler

Sales actually up for 'original sport-utility vehicle' with WWII roots

Jun 11, 09 12:02 PM CDT
(Newser) - With the Fiat-Chrysler alliance finalized, workers must get hopping to churn out more Jeep Wranglers, the military-vehicle-turned-adventure-ride that’s one of just three American cars whose sales are up this year. It’s “probably one of the main reasons why Chrysler is still here,” an auto analyst tells... More »

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Chrysler • auto industry • Fiat • Jeep • auto worker • Jeep Wrangler

GM-Owning Feds Buy
Rival Fords

General Services Administration spends $129M on competition

Jun 11, 09 5:30 AM CDT
(Newser) - The federal government isn't letting its stake in General Motors and Chrysler stop it from doing business with rivals, the New York Times reports. Ford, the only one of the Big Three not to receive bailout funds, won the biggest order in the General Services Administration's recent stimulus-funded $287 million... More »

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Chrysler • General Motors • fuel efficiency • Ford • economic stimulus package • General Services Administration • auto bailout

 Done Deal: Fiat Buys 
 Chrysler Assets 

Administration triumphs as bankruptcy effectively ends

Jun 10, 09 10:31 AM CDT
(Newser) - Chrysler finalized its sale of assets to Fiat with a government wire transfer this morning that gave Chrysler $6.6 billion in funds to exit bankruptcy, the New York Times reports. The sale is good news for the Obama administration, which sought an “efficient” restructuring for Chrysler. It may... More »

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Chrysler • bankruptcy • General Motors • Detroit • automaker • auto industry • Big Three • wire transfer • Fiat • Obama administration

(AP) - The Supreme Court has cleared the way for Chrysler's sale to Fiat, turning down a last-ditch bid by opponents of the deal. The court late today rejected a plea to block the sale of most of Chrysler's assets to the Italian automaker. With the court's move, the deal can now... More »

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Chrysler • Detroit • mergers and acquisitions • auto industry • Fiat

(Newser) - Supreme Court Justice Ruth Bader Ginsburg today put a temporary stay on the sale of Chrysler to Italian automaker Fiat, SCOTUSBlog reports. Ginsburg’s motion allows the justices to further consider the matter, and either postpone the sale or let it go forward. A full postponement of the sale would... More »

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Chrysler • Ruth Bader Ginsburg • bankruptcy • mergers and acquisitions • auto industry • US Supreme Court • sale • Fiat

 As Dealers Dwindle, 
 Car Prices Set to Balloon 

Lack of competition expected to drive up GM, Chrysler's prices

Jun 8, 09 2:05 PM CDT
(Newser) - The shake-up of America's auto industry will mean fewer auto dealers but the streamlining won't be making the cars any cheaper, experts tell the Boston Globe. Chrysler and General Motors are likely to turn to the Japanese model of fewer brands and fewer dealers when they emerge from bankruptcy, and... More »

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Chrysler • General Motors • auto industry • car dealers • dealership

(AP) - Opponents of Chrysler's sale to Fiat are asking the Supreme Court to block the deal. Three Indiana state pension and construction funds filed emergency papers at the high court early today to put the sale on hold so they can pursue an appeal. The emergency request goes first to Justice... More »

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Chrysler • Detroit • merger • auto industry • US Supreme Court • Fiat

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