Posted on October 7th, 2010 • by David Zatz
Not long ago, Chrysler launched Flo TV as an alternative to their existing, channel-limited Sirius satellite TV system, selling around 850 units in total. Flo’s sudden decision to wind down operations, not yet officially announced, will, according to a Chrysler spokesman quoted in the Detroit News, be dealt with by Chrysler, which appears to have [...]
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Posted on May 18th, 2009 • by David Zatz
Workers at factories that are to be closed or sold have been offered early retirement. The plan covers hourly workers at Sterling Heights, Conner Avenue, St. Louis North, St. Louis South, Twinsburg Stamping, and Kenosha Engine; those whose combined age and years with the company are more than 85 years, and who are over 60 [...]
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Posted on May 14th, 2009 • by David Zatz
Reports from Auburn Hills claim that Chrysler executives, who are currently figuring out ways to avoid their obligations to suppliers, banks, and the retired engineers who created the company’s glory days, have already found a way around Federal limits on executive compensation: they will be employed by Fiat, and “loaned” to Chrysler. That will allow [...]
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Posted on May 6th, 2009 • by Bill Cawthon
Under U.S. Treasury rules governing the loans made to auto companies, the next Chrysler CEO may be limited to $500,000 in total annual compensation and will be eligible for stock awards that can be transferred only after the new automaker repays all government loans. That’s still a $499,999 raise compared to the dollar a year [...]
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Posted on December 18th, 2008 • by David Zatz
The Bush administration has apparently decided, in line with Republican senators, that GM and Chrysler must be forced into bankruptcy as a condition of government loans. In the past, the Republican Party has denounced the use of bankruptcy and successfully worked to make entering bankruptcy more difficult for individuals and small businesses. Bush’s plan, as [...]
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Posted on December 3rd, 2008 • by Bill Cawthon
Even as automakers were reporting one of the worst sales months in recent years, the CEOs of Chrysler, Ford and GM were making another push for federal help. This time, they were better prepared for the objections and challenges that tripped them up on their last trip. Like his counterparts at from Dearborn and the [...]
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