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WASHINGTON, Sept. 3, 2008 – Defense officials have chosen Chrysler to receive the department's top employer-support award for providing exceptional financial and emotional support to its employees who deploy as National Guard or reserve members. Chrysler will receive the Freedom Award along with 14 other companies in a ceremony Sept. 18 at the Ronald Reagan Building and International Trade Center here. The Freedom Award was instituted in 1996 under the auspices of the National Committee for Employer Support of the Guard and Reserve to recognize exceptional support from the employer community. The automaker provides pay differential and full benefits...

WASHINGTON -(Dow Jones)- Sen. John McCain, R-Ariz., in an important shift, said on Friday he backs a plan for the federal government to provide low- interest loans to struggling U.S. auto makers. The presumptive Republican presidential nominee said the loans are needed to help auto makers build the next generation of cars and become financially stable. "Our auto companies are rising to the challenge of building the next generation of American cars, but are doing so in times when credit conditions cripple the funding for the facilities and technologies to take the steps to the future," McCain said in a...

DETROIT (Reuters) - Chrysler is in talks to lease U.S. production capacity and share retail distribution with Fiat SpA (FIA.MI), allowing the Italian automaker to return the U.S. market for the first time in 25 years, people briefed on the talks said on Wednesday. Chrysler, the No. 3 U.S. automaker, has also been in discussions with India's Tata Motors Ltd (TAMO.BO) about selling its Jeep Wrangler SUV in India and possibly other Asian markets, said the sources, who were not authorized to discuss the negotiations.

Chrysler is getting out of the auto leasing business. The company, now privately held, told its dealers on Friday that its financing arm, Chrysler Financial, would stop offering leases as of Aug. 1, a move that comes as plummeting resale values of gas-thirsty trucks and sport utility vehicles turn lease deals on those vehicles into big money losers for the Detroit automakers. On Thursday, the Ford Motor Company took a $2.1 billion write-down in the second quarter, part of an $8.7 billion loss for Ford over all, related to unprofitable leases held by its finance arm, the Ford Motor Credit...

DETROIT (Feb. 8) - Automaker Chrysler LLC aims to cut its product lineup by around a half and dramatically shrink its dealership network so it can sell its three brands under one roof, the Wall Street Journal reported on Friday, citing people familiar with the plan. The proposal to cut the struggling U.S. automaker's product line of around 30 different trucks, cars and sports utility vehicles across the Chrysler, Dodge and Jeep brands to 15 or more within a few years is part of a drive to cut costs and create a leaner, more profitable company, the paper said. Analysts...

Italian automaker Fiat (FIA.MI) is looking for partners to manufacture its Alfa Romeo brand and its 500 subcompact in North America. Although the company hasn't finalized plans for its return to the U.S. market, an announcement could come later this year, Fiat Group CEO Sergio Marchionne said Friday. "The U.S. market is very large, and we're not looking to occupy a premier position," Marchionne said. "But I think we do have a couple of brands and products that we can sell successfully there."

NEW YORK (CNNMoney.com) -- U.S. auto sales tumbled in May as buyers fled from pickups and sport utility vehicles in the face of average gas prices that are now just shy of $4 a gallon. The trouble hit not only U.S. automakers General Motors (GM, Fortune 500), Ford Motor and Chrysler LLC -- which have long depended on sales of pickups and SUVs -- but also trimmed the sales of their top Japanese rival Toyota Motor (TM). But other Asian automakers held up reasonably well. Nissan (NSANY) reported a narrow sales gain while Honda Motor (HMC) and Kia rode American...

Honda Civic, Accord, Toyota Camry and Corolla all outsell Ford F-150 for the first time The two brands who lost and gained the most sales last month (MINI and HUMMER) sum up nicely what happened to auto sales during May in the U.S. Brands armed with small cars weathered the storm and big trucks and SUVs continued to nose dive. In fact, after 17 years worth of being this country's best-selling vehicle, the Ford F-150 full-size pickup (42,973) has fallen for the first time to fifth place behind the Honda Accord (43,728), Toyota Camry (51,291), Corolla (52,826) and your new...

WASHINGTON, May 23, 2008 – The Chrysler Foundation announced the donation of $100,000 to the Gen. Douglas MacArthur Foundation’s 5 Star Campaign in Norfolk, Va., today. In recognition of Military Appreciation Month, Chrysler’s gifts promote the foundation’s campaign for the modernization and expansion of the MacArthur Memorial. “In keeping with Chrysler’s tradition of support for the U.S. military and the courageous men and women who defend this great country, the company and our foundation are proud to contribute to the MacArthur Memorial,” said Bob Nardelli, the automaker’s chairman and chief executive officer. “We want to make sure that future...

WASHINGTON, May 16, 2008 – The support Chrysler LLC offers the military is “an investment in freedom,” the company’s chief executive officer said today. Bob Nardelli, Chrysler chairman and CEO, talks with Marian Watt of Operation Quiet Comfort on May 16, 2008. Nardelli was at the Pentagon to talk with senior defense officials regarding his company's military-support initiatives. He visited representatives of some 38 troop-support groups who were participating in the 4th Annual America Supports You Salute to Our Military Men and Women. Defense Department photo by Samantha L. Quigley  (Click photo for screen-resolution image);high-resolution image available. Bob Nardelli, Chrysler’s top official,...

Workers at Johnson Controls Inc.'s factory in Northwood learned in February that their jobs building seats for the Jeep Wrangler were being outsourced to India by 2010. But that plan may have proven a bit ambitious. Yesterday, the manufacturing chief for Chrysler LLC told an automotive trade publication that at least part of the work - the more complex front seats - will stay local. Meanwhile, the Indian company that won the work, Krishna Maruti Ltd., is looking for space in the Toledo area and plans to hire as many as 70 people to produce the rear seats, according to...

Chrysler is offering to subsidize the cost of gasoline for car and truck buyers, but its biggest rivals — General Motors, Toyota and Ford — said Tuesday they have no plans to match it. The Auburn Hills-based maker of Chrysler, Dodge and Jeep vehicles on Monday night announced an offer that caps the price of gasoline at $2.99 a gallon for three years for people who buy or lease new vehicles from Wednesday through June 2. The offer covers most of its models and is based on 12,000 miles of driving per year and the vehicle’s government fuel economy rating....

DETROIT, May 5, 2008 – Patriotism was in full gear at the Chrysler headquarters today, as hundreds gathered inside the star-spangled atrium of the automaker’s main hub to honor America’s men and women in uniform. Robert Nardelli, chairman and chief executive officer of Chrysler, signs a 5-Star Military Support Agreement on May 5, 2008, in Auburn Hills, Mich., pledging the automaker's commitment to continue supporting employees who are called into active military service. Defense Department photo by John J. Kruzel  (Click photo for screen-resolution image);high-resolution image available. On the tiered floors of the glass-enclosed plaza here, employees hung over railings...

Chrysler now has a partnership with China-based automaker Chery to rebadge a small car for the South American market, a partnership with Volkswagen to build VW-badged minivans, and a brand new deal with Nissan in which it will supply the Japanese automaker a full-size truck in exchange for a new small car. Rumor has it that the Cerberus-owned automaker isn't done shaking hands quite yet. The latest partnership may involve Italian automaker Fiat, as reported by the German newspaper Handelsblatt. According to the paper, the deal with Fiat would involve freeing up some of Chrysler's production capacity in the U.S....

Chrysler to shut down for fortnight as sales plunge Andrew Clark and Mark Milner The Guardian, Friday March 14 2008 The American carmaker Chrysler has told its 70,000 workers to take a two-week holiday in July, in a company-wide shutdown reflecting plunging sales of vans and lorries. Chrysler, which is owned by the private equity firm Cerberus Capital, is smaller than rivals Ford and General Motors, and is being squeezed by soaring petrol prices. In an internal memo, Robert Nardelli , chief executive, asked staff to approach the idea "with an open mind and a team spirit". He wrote: "In...

WASHINGTON, March 5, 2008 – The company that made inspiration standard has done the same with its support of the nation’s troops since before World War II. Chrysler recently announced it has become a corporate supporter of the Defense Department’s “America Supports You” program, which connects citizens and companies with servicemembers and their families serving at home and abroad. “The mission of America Supports You merges perfectly with the legacy Chrysler has of supporting the military and their families for decades, said Bob Nardelli, the auto maker’s chairman and chief executive officer. “Beginning with our Jeep products carrying troops...

DETROIT (Reuters) - U.S. auto sales tumbled in February in the face of a slumping economy and high gas prices with double-digit declines by all three struggling Detroit-based automakers. Sales at General Motors Corp(GM.N: Quote, Profile, Research), Ford Motor Co (F.N: Quote, Profile, Research) and Chrysler LLC CBS.UL fell 16 percent, 10 percent and 17 percent, respectively. GM and Ford responded with cuts to second-quarter production plans, while Chrysler rolled out a new program of sales incentives. "February was a very disappointing month for industry sales," GM Vice Chairman Bob Lutz told Reuters at the Geneva auto show. "We still...

Chrysler LLC Vice Chairman and President Jim Press said Friday that the auto maker needs its dealers to start consolidating on their own without expecting big buyout checks from the company as an incentive. Mr. Press, speaking to an automotive conference taking place before an annual car-dealer convention here, said that in coming years, the company will shrink its product portfolio to improve profitability. The smaller portfolio will best benefit dealers who combine the auto maker's three brands -- Chrysler, Dodge and Jeep -- into one location, he said. For dealers waiting on big buyout incentives, they may want to...

Auto supplier with Greater Cleveland plants files for bankruptcy Posted by Robert Schoenberger February 04, 2008 10:25AM Categories: Autos, Breaking News, Economy, Manufacturing Plastech Engineered Products, a Michigan company with plants in Cleveland, Brooklyn and Strongsville, filed for Chapter 11 Bankruptcy protection last week, a move that has already shut four Chrysler plants, including Toledo's Jeep plant. According to filings in the U.S. Bankruptcy Court for the Eastern District of Michigan, the filing comes following a breakdown of relations between Chrysler and Plastech. Plastech has been in financial crisis for months, and it had been working with Ford, GM and...

NEWARK, Del. (AP) — Employees at a Chrysler plant in Newark, Del. who don't drive a Chrysler now have to park in the back, where passers-by can't see them. Plant management issued the directive Jan. 25. Workers have been told local union officials endorsed the decision. After March 24, vehicles that aren't made by Chrysler will be towed if they're not parked in the proper lot. Workers at the plant face a planned shutdown next year.

Chrysler LLC said on Monday it is offering buyouts of up to $100,000 each to hourly workers at 12 of its Detroit-area facilities as part of its November plan to eliminate up to 10,000 unionized jobs. The offer will be extended to about 14,000 workers represented by the United Auto Workers union at the plants which make cars, engines, axles and other parts, Chrysler spokeswoman Michele Tinson said. About 4,600 can opt for a more attractive retirement package. The buyouts could be extended to a 13th plant in Warren, Michigan, which was idled this week, and the automaker is in...

Last Updated: Sunday, 13 January 2008, 10:11 GMT Chrysler's stampede into Motown By Jorn Madslien Business reporter, BBC News, Detroit auto show Farmers have been driving into Detroit for the cattle race The American car maker Chrysler plans to drive a herd of cattle through the centre of Detroit on Sunday to launch its new Dodge Ram pickup truck. But the truck, which goes on show at the Detroit auto show, is likely to face stiff competition in a shrinking market, analysts said. Pickup truck sales, perhaps more than other car models, are suffering from the rising price of oil....

Chrysler LLC has slipped into a serious financial crunch just four months after Cerberus Capital Management LP swept in to save the auto maker. At a meeting earlier this month, Chief Executive Robert Nardelli told employees the company is headed for a substantial loss this year and is scrambling to sell assets to raise cash, according to an account by two people present that Mr. Nardelli confirmed. "Someone asked me, 'Are we bankrupt?'" Mr. Nardelli said at the meeting. "Technically, no. Operationally, yes. The only thing that keeps us from going into bankruptcy is the $10 billion investors entrusted us...

'Buy American' No Longer Black And White In Auto Industry By PETER KROUSE and ROBERT SCHOENBERGER   Honda may be a Japanese brand, but it makes cars in Ohio, where it employs more than 15,000 workers, including Lori Dennis. She believes her job in Marysville is as American as those who work for Ford, General Motors and Chrysler. (Photo by Thomas Ondrey)     Buy American doesn't mean what it once did. Not in the auto industry.Honda's best sellers come from plants in Ohio while Ford imports cars from Mexico. Toyota opened a plant in Texas this year while Chrysler...

Automaker says Dakota trucks, Durango SUVs and Ram pickups could potentially shift out of park without a key in the ignition. WASHINGTON (AP) -- -- Chrysler said Friday it is recalling nearly 600,000 Dodge trucks and vans to address concerns that the vehicles could shift out of park without the key in the ignition. The recall affects 576,417 2001-2002 Dodge Dakota trucks, Dodge Durango sport utility vehicles and Dodge Ram vans and the 2002 Dodge Ram pickup. In some cases, long-term wear on the gearshift assembly could erode the height of the shift blocker, creating the potential for the vehicle...

Whether it's the tried-and-true Butterball, the more enigmatic Tofurkey or pricey "pastured" birds, turkey is simply what we eat for Thanksgiving. But we've come to know another type of turkey--vehicles that, for some reason or another, have been problematic or simply haven't found their place in the market. Most have make-or-break issues with shoppers: recalls, reliability, resale value and safety. In compiling our fourth annual list of "Automotive Turkeys," we looked at four factors, all pertaining to 2007 model-year vehicles: number of recalls to date, according to the National Highway Traffic Safety Administration (NHTSA) database; reliability ratings from Consumer Reports;...

DETROIT (AP) - The ink barely dry on a new four-year labor contract, Chrysler LLC says it plans to cut up to 12,000 jobs and remove four models from its lineup. As part of the new plan, shifts will be cut at vehicle assembly plants in Belvidere, Ill.; Toledo, Ohio; Brampton, Ontario; and Jefferson North and Sterling Heights in the Detroit area. Also, jobs will be cut at the company's Mack Avenue engine plant.

Chrysler to Cut Up to 12,000 Jobs A WALL STREET JOURNAL ONLINE NEWS ROUNDUP November 1, 2007 10:21 a.m. Chrysler LLC announced plans to cut up to 12,000 jobs as part of an effort to slash costs and match slowing demand for some vehicles. The auto maker will cut 8,500 to 10,000 hourly jobs through 2008 and salaried employment by about 2,100. It will eliminate shifts at five North American assembly plants and eliminate four products from its line-up.

UAW members have voted to ratify a new collective bargaining agreement with Chrysler said in a statement. It is a historic four-year contract ahreement despite significant dissent from some workers. According to the United Auto Workers, the vote was 56 percent in favor of the four-year pact among production workers, and 51 percent in favor among skilled trades workers.

NEW YORK, CNNMoney.com -- The Toyota brand has lost its top position for iron-clad reliability, according to an influential Consumer Reports survey released Tuesday. The survey dropped Toyota from first to fifth place - behind Honda, Acura, Scion and Subaru - in average vehicle reliability. The rankings are based on average predicted reliability for all models sold under a given brand. Brands made by Toyota Motor Co. and Honda Motor Co. still dominate the rankings: Scion is Toyota's low-priced car brand and Acura is Honda's luxury car brand. Consumer Reports said it no longer recommends V6 versions of Toyota's Camry...

Attribute to Tom LaSorda, Vice Chairman and President, Chrysler LLC Auburn Hills, Mich., October 10, 2007 Chrysler LLC and the UAW have reached a tentative agreement on a new national labor contract, covering approximately 45,000 represented employees. The agreement is subject to UAW member ratification. The tentative agreement includes a memorandum of understanding to establish an independent retiree health care trust, as well as other changes to the national agreement. Following ratification, implementation of the memorandum of understanding is subject to approval by... http://www.thefirehouse.biz/blog.do?id=851&p=entry

DETROIT (AP) -- Thousands of Chrysler LLC autoworkers walked off the job Wednesday after the automaker and the United Auto Workers union failed to reach a tentative contract agreement before a union-imposed deadline. It is the first UAW strike against Chrysler since 1997, when one plant was shut down for a month, and the first strike against Chrysler during contract talks since 1985. The UAW apparently is staying on the job at the five plants that Chrysler already had shut down this week because of sagging sales of some models, according to a person familiar with the walkout who asked...

Chrysler, UAW, AutomotiveThis link is to Channel 4 News in Detroit.

Deal or no deal. That's the ultimatum the United Auto Workers gave Chrysler on Monday when it set the strike deadline for Wednesday at 11 a.m. Detroit time, giving the automaker less than three days to make a labor deal or face a strike. While it could be an idle threat, the union has followed through in similar situations. Last month, the UAW launched a national strike against General Motors (nyse: GM) in a bid to speed up negotiations and reach favorable terms. In the first nationwide strike against GM in 37 years, auto workers held a two-day standoff, before...

Two big lures: A shot at being part of a historic turnaround, plus oodles of cash How has Chrysler assembled what many already call a dream team? Executives see the combination of a high-profile turnaround job, managed by a smart-money player, as a way into the private equity boom. They get equity stakes potentially worth millions, and Cerberus can offer titles that carry more authority than jobs at bigger rivals. Says Bradley J. Holden, a partner with executive search firm Heidrick & Struggles in Chicago, which worked with Cerberus: "Private equity firms can offer huge financial upside and the intellectual...

NEW YORK (CNNMoney.com) -- James Press, the former head of Toyota's North American operations, has been hired by Chrysler. He will share the titles of vice chairman and president with former Chrysler chief executive Tom LaSorda. "Tom LaSorda and I are thrilled that one of the most successful executives in the history of the auto industry has joined our leadership team at the New Chrysler," said Chrysler CEO Robert Nardelli said in a prepared statement. "Our top team now consists of a world-class 'supply' leader in Tom and an equally world-class 'demand' leader in Jim."

Chrysler, with a new owner and a new boss, is placing a big bet on a fledgling Chinese automaker. The Chery A1 is a cute little car. It's a four-door hatchback, with a 1.3-liter engine, dual air bags and antilock brakes. The two-tone interior, with air-conditioning, power windows and a CD player, is surprisingly appealing for a car that sells for just over $7,000 in China. It may not quite live up to American standards. The engine needs refinement, and some parts don't fit as well as they should--not to mention concerns about the safety of anything made in China...

By picking a tough-minded outsider to head Chrysler, the struggling automaker's new owners have put company employees, suppliers and dealers on notice that things will be changing. Cerberus Capital Management's founder Stephen Feinberg closed the $7.4 billion deal to buy Chrysler on Friday and this weekend put his guy in place at the top, installing former Home Depot Inc (HD.N) head Robert Nardelli as the automaker's CEO. Nardelli's hiring comes at a critical time for the struggling U.S. automaker -- amid contract negotiations with the United Auto Workers union aimed at reducing hourly labor costs in areas such as health...

DETROIT --- DaimlerChrysler AG's Chrysler Group on Thursday launched a lifetime warranty on major "powertrain" vehicle components, such as engines and transmissions, as it seeks to give consumers another reason to visit its showrooms. Chrysler Sales Chief Steven Landry said during a conference call that the warranty is an "unprecedented" offer in the industry and it promises to "raise the consideration" of Chrysler, Jeep and Dodge vehicles in the marketplace. Mr. Landry said the offer could eventually allow Chrysler to lessen its reliance on high-dollar discounts and rebates as a way to lure new buyers. "We don't want to match...

Chrysler Group apologized on Thursday for an advertisement that showed a dog being electrocuted beside its new Dodge Nitro sports utility vehicle. The ad, created by BBDO Netherlands which supports Chrysler's sales in the Dutch market, shows a dog being electrocuted after urinating on a Nitro's wheels. The agency is part of Omnicom Group Inc's BBDO Worldwide. The ad, which ends with the dog going up in flames, has the tagline "charged with adrenaline." According to Chrysler, the ad was placed exclusively on the Internet. "Chrysler Group was dismayed to discover that an advertisement created by an ad agency supporting...

Chery and Chrysler Group Finalize Cooperative Agreement - Chery and Chrysler Group forge new model of international cooperation BEIJING, July 3 /PRNewswire-FirstCall/ -- Chrysler Group President and CEO Tom LaSorda joined Chery Automobile Co. Chairman and President Yin Tongyue today to finalize the highly anticipated cooperative agreement between the two automakers. Chinese governmental authorities from the State Development and Reform Commission officially approved the agreement and marked the occasion by hosting a first-of-its-kind signing event. The ceremony was held at Beijing's Diaoyutai State Guesthouse. Under the agreement, Chery, based in Wuhu, Anhui Province, China and Chrysler, based in Auburn...

WASHINGTON (Thomson Financial) - The Chinese government late tonight US time will announce its acceptance of a framework agreement under which China's Chery Motor Co will produce cars for Chrysler to be sold in the US, a Chrysler spokesman said. Spokesman Mike Aberlich said China's agreement of the framework deal would be announced the morning of July 4 in China. 'There will be an announcement tonight,' he said. ~ snip ~

WASHINGTON (AP) -- Federal antitrust regulators have cleared Cerberus Capital Management's $7 billion purchase of Chrysler, two people close to the deal said Tuesday. The Federal Trade Commission made its decision before the end of a standard 30-day review, according to two people, who spoke on condition of anonymity because they were not authorized to speak publicly on the matter. Early termination of an FTC review typically signifies there will be no conditions placed on the deal.

By John McElroy WardsAuto.com, May 23, 2007 12:43 PM While everyone else is focused on Daimler selling Chrysler, I’m trying to figure out who Cerberus is going to flip it to. You know this crowd did not buy Chrysler to hold it. That’s not what they do. {snip} Getting Chrysler’s labor costs to match Toyota’s in North America... Putting those savings into the product... Quickly pruning the U.S. dealer base... Expanding aggressively overseas. {snip} So the real question is, who gets it? It sure would make a tantalizing acquisition for someone such as Fiat, PSA, or (gulp!) one of those...

ETROIT (AP) -- Cerberus Capital Management LP and leaders of the Chrysler Group will try to convince the leaders of the automaker's workers that their $7.4 billion deal will give workers better job security, restore Chrysler's health and not "strip and flip" the company by selling it off in pieces.

A deal to put Chrysler under new ownership also promises to open a new and difficult chapter for America's unionized auto workers. The private buyout firm Cerberus plans to purchase a majority stake in the struggling US car company for $7.4 billion – a move announced with fanfare Monday. But the big financial question is not what Cerberus will pay, but what the UAW will throw into Chrysler's pot. The labor union has not, by itself, dug Detroit's automakers into their current hole of sagging market share. But analysts say America's iconic car companies will have trouble regaining their footing...

By effectively agreeing to give away 80.1% of Chrysler Group to private-equity firm Cerberus Capital Management LP, German auto maker DaimlerChrysler AG set the table for far-reaching restructuring of Detroit's faltering auto giants. The New York investment firm and German auto company have set ambitious goal: to work with powerful United Auto Workers union to restructure the $18 billion that Detroit's No. 3 auto maker estimates it will eventually owe for UAW retiree health-care benefits. Daimler, Chrysler's German parent, was unwilling to shoulder that burden. Many big airlines and steelmakers chosen to file for Chapter 11 bankruptcy protection to reduce...

NEW YORK (CNNMoney.com) -- DaimlerChrysler moved to undo the most expensive and one of the least successful mergers in auto industry history Monday as it agreed to essentially pay to dump the money-losing Chrysler unit which it paid $37 billion for nine years ago. DaimlerChrysler (Charts) announced it will sell an 80 percent stake in its U.S. brand to Cerberus Capital Management, a private equity investment firm that will pay $7.4 billion. But the German automaker, which will be renamed simply Daimler, will not actually get most of the money that Cerberus is paying for the once proud automaker. Instead...

The resignation of the United Auto Workers union to a private-equity takeover of the Chrysler Group is a sign that Detroit's old order is starting to crumble, and the U.S. auto industry is headed for a tough battle with labor in negotiations this fall. DaimlerChrysler (DCX - Cramer's Take - Stockpickr) agreed over the weekend to sell an 80% stake in its struggling U.S. business to Cerberus Capital Management for $7.4 billion. After unburdening itself of the bulk of Chrysler's losses and its roughly $19 billion in pension and health care liabilities, the German automaker will seek to restore its...

DETROIT (Reuters) - The Canadian Auto Workers (CAW) union said on Monday it would seek a written guarantee from Cerberus Capital Management that no jobs would be cut at Chrysler Group factories in Canada through the term of the current contract. Cerberus said on Monday it would buy an 80.1-percent stake of DaimlerChrysler's Chrysler Group for $7.4 billion. CAW President Buzz Hargrove told reporters the union's message to Chrysler's new majority owners would be "not one job (lost) as a result of this new ownership structure." The CAW's contract with Chrysler expires in September 2008. The union represents about 10,000...