Yesterday, Jan Bertsch, Chrysler Group’s Senior Vice President and Treasurer, made the following statement before the Congressional Oversight Panel for the Troubled Asset Relief Program (TARP) Field Hearing on the Automotive Industry Financing Program:
Members of the Panel, thank you for giving me the opportunity to discuss with you the financial assistance provided to the domestic [...]
Peter Grady, VP-Network Development and Fleet, issued the following statement (abbreviated somewhat here):
… As Congress considers legislation aimed at reversing our decisions, I feel it’s important to set the record straight—not with opinion or rhetoric, but with straight facts. …
We chose the network that we felt would best represent the new Chrysler Group LLC in [...]
Republican and Democrats alike have led the charge to have the government override private industry’s decisions as 202 Congressmen cosponsored a bill which would prevent GM and Chrysler from dropping dealers while in bankruptcy. In Chrysler’s case, the dealerships have already lost their franchises and some have closed.
The proposal would overrule bankruptcy law, judicial decisions, [...]
The House of Representatives has attached a Federal rebate program for buyers of new cars to a completely unrelated war spending bill in order to fast-track. This greatly increases the likelihood of passage of the program, which would provide $3,500 to $4,500 for people who trade in their old car for new ones that get [...]
Jim Press attacked several “dealer myths” in front of Congress, defending Chrysler’s actions:
Despite completing a painful restructuring, the New Chrysler Group will retain 86% of Chrysler dealers by volume, and 75% by location.I can empathize with the dealers who were not brought forward into the new company, and can understand their disappointment. This has been the most difficult [...]
By a 298-119 vote, the U.S. House of Representatives has approved legislation which would provide up to $4 billion in cash vouchers for Americans who buy more efficient cars and trucks.
The plan, which offers up to $4,500 for trading in a gas-guzzler, is designed to ignite consumer interest in new vehicle purchases. The plan is [...]
According to a Bloomberg report issued yesterday, Congressman Darrell Issa has accused Chrysler CEO Robert Nardelli of failing to “disclose information material to ongoing bankruptcy proceedings.” He cited Dave Draper’s statement that a group of investors had offered Chrysler $35 million for the Viper, its plant, and related components and tools after the company put [...]
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