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You are currently browsing the Allpar Chrysler, Dodge, and Jeep News news archives for 'Cerberus and Daimler' tag.
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Employment figures released today by Chrysler in advance of the negotiations with the United Auto Workers union show not only how deep Daimler cut worker ranks but the even greater slashes inflicted by Cerberus Capital Management in its tenure. At the end of 2000, Chrysler employed 75,489 hourly and salaried UAW workers. By the time [...]
TD Bank Group of Toronto (formerly Toronto Dominion) will pay $6.3 billion to acquire Chrysler Financial from Cerberus Capital Management. The all-cash transaction includes assets of $5.9 billion and approximately $400 million in goodwill. TD does not intend to issue common equity in connection with this transaction. TD will gain all of Chrysler Financial’s processes [...]
Automotive News reported that Cerberus is trying to sell Chrysler Financial, the former captive lender of the former Chrysler Corporation. The company is reported worth around $6-7 billion, after having repaid $1.5 billion in Treasury loans. In July, Chrysler Financial tried to go back to originating new loans on a large scale, according to the [...]
More than 450 Chrysler retirees have filed a class action suit in the Wayne County (Michigan) Circuit Court against Daimler AG and Cerberus Capital Management LLC over the loss of supplemental pension benefits during the automaker’s 2009 bankruptcy. The pensions, covering workers and managers, were set up under a private program and so were not [...]