Allpar News
Other Car-Truck News
Two for you
You are currently browsing the Allpar Chrysler, Dodge, and Jeep News news archives for 'bailout' tag.
Longer entries are truncated. Click the headline of an entry to read it in its entirety.
Allpar Community
2011 Cars and Trucks
Find It Now
20 Recent Stories
The Treasury Department has revised its estimate of losses from Federal intervention in the auto industry, from a $24 billion loss down to a $17 billion loss. That includes General Motors, Chrysler, and auto financers. Many people continue to quote the $700 billion spent on TARP as though it was “money lost,” but only $475 [...]
•
Like on Facebook • Tags: bailout, Chrysler, General Motors, TARP.
Bloomberg, citing un-named sources, said that President Obama would announce Chrysler’s bankruptcy tomorrow, along with its alliance with Fiat. However, the President reportedly still hopes for an agreement with the remaining lenders.
•Like on Facebook • Tags: bailout, bankruptcy, Chrysler, Government loans.
According to the Washington Post, Chrysler’s creditor group has reached an accord with the Treasury Department which will, coupled with this week’s union deals, prevent bankruptcy. A group of 45 financial firms have agreed to drop their debt demand from $6.9 to $2 billion and around 10% of the company’s equity, shared with the U.S. [...]
•Like on Facebook • Tags: bailout, bankruptcy, Cerberus and Daimler, Chrysler, Daimler, employees, government, Government loans, Treasury, unions, United Auto Workers.
The current Chrysler first-lien lenders group’s offer for to the Treasury is dropping the debt level to $3.75 billion, and 40% of Chrysler’s equity. The lenders have dropped $750 million in debt, their demand for $1 billion of their equity to be preferred equity, and their demand that Fiat invest $1 billion. This is still [...]
•Like on Facebook • Tags: bailout, bankruptcy, Canada, Canadian Auto Workers, Cerberus and Daimler, Chrysler, Treasury, United Auto Workers.
In their rush to send out key details of Obama’s auto plan, many journalists ignored important information. This is the full text; other documents are available from the White House. One of the challenges we have confronted from the beginning of this administration is what to do about the state of our struggling auto industry. [...]
•Like on Facebook • Tags: Auto industry, auto task force, bailout, bankruptcy, Canada, Chrysler, Congress, credit, creditors, dealers, Dodge Ram, economy, engines, EPA, Europe, Fiat, GEM, General Motors, government, Indiana, jobs, loans, manufacturing, market, Michigan, Ohio, Opel, partnership, parts, President Obama, review, Rick Wagoner, Sales, task force, Treasury, Trucks, unions.
Dear Employees, Today’s announcement by the Administration represents an important step forward on our path to viability. The Administration, U.S. Treasury and the President’s Auto Task Force have recognized Chrysler’s viability as an important part of the U.S. auto industry and overall economy, and have provided a critical vote of confidence in our alliance with [...]
•Like on Facebook • Tags: bailout, government, Government loans, loans, Nardelli, Treasury.