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Sergio Marchionne, Chrysler Group’s new CEO, is wasting no time in making changes at the automaker. And, contrary to the norm in modern business, his focus is on management. In an interview with the Financial Times, Marchionne said: “The problem is never with the blue collar – with the people running the business day to [...]
The Windsor Star reported that the minivan plant could be open within two weeks, with Brampton opening later, to refresh the stock of minivans in Canada. CAW Local 444 leader Rick Laporte said management is considering a three-shift operation due to supply constraints, which would avoid a Saturday shift premium and postpone payments to laid-off [...]
Reuters reports, quoting a senior administration official, Chrysler will file for protection under Chapter 11 bankruptcy. President Obama and the auto task force will discuss the automaker’s reorganization at noon (EST). As of this morning, Chrysler and the U.S. Treasury had not been able to gain the necessary concessions from all of the company’s creditors, [...]
The United Auto Workers union today announced it had reached an agreement with Chrysler, Fiat and the U.S. Treasury that will reduce Chrysler’s obligations to the union’s retiree healthcare program. The deal marks another hurdle Chrysler has cleared in its efforts to avoid filing for bankruptcy and clear the way for an alliance with the [...]