Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

NEWS ABOUT: Chrysler

Ford Sales Rise 33% as GM, Chrysler's Fall

But all three domestic automakers suffered in '09

(Newser) - Ford continued to dominate its domestic rivals in December, with the carmaker the only one of the "big three" to see sales advance. The company's US sales rose 33%, marking Ford's best month since May 2008. GM saw a 6% sales decline for December, while Chrysler's sales were down... More »

Pay Czar OKs Rule-Busting Pay at Bailout Firms

$500K cap lifted for top auto industry execs

(Newser) - "Pay czar" Kenneth Feinberg has made more exceptions to the $500,000 salary cap for execs at bailed-out firms. Compensation packages approved this week include a $9.5 million plan for GMAC CEO Michael Carpenter, which includes a $950,000 salary, Reuters reports. The exemptions were agreed to because... More »

GM CEO Henderson Resigns

Move comes as sales figures show industry stabilizing

(Newser) - General Motors CEO Fritz Henderson has resigned after only 8 months in his post. He will be replaced on an interim basis by board chairman Ed Whitacre Jr. Henderson took over in March and led the company through bankruptcy proceedings and helped it toward its goal of scaling down to... More »

Pay Czar Cuts Bonuses, But Boosts Salaries

Feinberg beefs up base base to help firms retain talent

(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 »

Chrysler Adds Fiats, Dumps Dodge, Jeep Models

Revamped automaker will reintroduce Alfa Romeo to US

(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 »

50% Pay Cuts for Bailout Execs Due Today

Warren confirms cuts to 25 top earners at 7 companies

(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 »

Pay Czar Slashes Top Salaries at 7 Bailed-Out Firms

175 top earners will see pay cuts averaging 50%

(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 »

Recession Crushes White-Collar Michigan

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

(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 »

Clunkers Drives Ford's August Sales Up 17%

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

(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 the
... More »

Investors Ditch Once Lofty Cerberus Fund

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

(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 surprised... More »

Chrysler Plans to Build Fiat in Mexico

(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 »

Don't Spend Bonus Bucks Yet, Warns 'Clawback' Czar

(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 »

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

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

(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 »

House Votes to Block Dealership Closings

(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 »

Obama's Car Czar Steps Down

(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 »

Ford, Toyota Say Sales Slide Ending

(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 »

Jeep Wrangler Is Star of Reborn Chrysler

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

(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 »

GM-Owning Feds Buy Rival Fords

General Services Administration spends $129M on competition

(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 »

Done Deal: Fiat Buys Chrysler Assets

Administration triumphs as bankruptcy effectively ends

(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 »

Supreme Court Won't Block Chrysler Sale

(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 »

Stories 21 - 40 | << Prev   Next >>
NEWS FROM OUR PARTNERS
Other Sites We Like:   24/7 Wall St.   |   Betty Confidential   |   BuzzFeed   |   Cracked   |   Fark   |   Timelines   |   The Frisky   |   Geek Sugar   |   NewsOne