Allpar Chrysler, Dodge, and Jeep News

Tag Archive for 'credit'

Chrysler Rewards credit card dropped?

The Chrysler, Dodge, and Jeep credit card programs are all coming to an end on October 30, 2009; Bank of America, which was handling the programs, has sent notifications to cardholders. Participants can order Dealer Dollars certificates through August 31 and can earn rewards points for purchases through September 30, but must redeem points by [...]

Chrysler plan objectors disappearing

The number of creditors objecting to the Chrysler-Fiat-Treasury plan appears to be dwindling, if a motion filed today by the “Attorneys for the Chrysler Non-TARP Lenders” (Thomas Lauria, who claimed death threats as the sole named attorney) is any evidence. 
In part II, the document tellingly describes the “Non-TARP Lenders” as holding “over $300 million of [...]

Obama’s actual statements

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. [...]

Bankruptcy is only for the poor

Head of the Fed Ben Bernanke flatly ruled out a government takeover of major banks, such as Citigroup, that would wipe out stockholders.
Rhetoric is rather different when talking about banks vs. automakers. When they mention GM and Ford, they say the stockholders deserve nothing because they were asleep at the switch. Automaker bankruptcy has almost [...]

Bob Nardelli’s letter to shareholders

Dear Stakeholders,
Today, Chrysler LLC submitted its viability plan to U.S. Treasury Secretary Geithner in line with the government’s deadline. It gives detailed information on how we will achieve and sustain long-term viability. We believe our submission meets the terms of the federal loan demonstrating our viability as a stand-alone company, as well as the potential [...]

Treasury to help industry, dealers

Treasury Secretary Timothy Geithner declared that the U.S. would spend up to $1 trillion to boost consumer credit, including car loans and inventory financing for dealers. Geithner noted that the approach of spending money to boost banks had not had the desired effects on the greater economy. 
The new effort is similar in principal to one [...]

Auto industry seen as most distressed in 2009

The automobile industry, hammered by slow sales and tight credit, will pass homebuilding as the most distressed industry in the United States next year. The still-suffering housing industry, the winner for 2008, is seen as falling to third, after autos and the retail sector, according to an early December survey of the213-member Turnaround Management Association.
Chrysler, [...]


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