Posted on March 30th, 2009 • by David Zatz
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. [...]
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Posted on February 17th, 2009 • by David Zatz
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 [...]
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Posted on February 10th, 2009 • by David Zatz
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 [...]
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Posted on December 30th, 2008 • by Bill Cawthon
Chrysler has decided to forego its annual reward meeting for its top dealers. The event, scheduled for March 15-19, was to have been held at the Hilton Los Cabos Resort in San Jose del Cabo, Mexico. Company spokesman Stuart Schorr said the decision was the result of an agreement made last fall between Chrysler and [...]
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Posted on December 17th, 2008 • by Bill Cawthon
The latest from the Bush Administration is that short-term loans for Chrysler and GM could come by Friday. The loans, which were predicted to be available today, are now being held as Treasury Secretary Henry Paulson studies whether enough money will be left in the Troubled Asset Relief Program to bail out any banks that might run [...]
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Posted on December 12th, 2008 • by David Zatz
General Motors, facing abrupt sales declines due to the economy and rumors of bankruptcy, announced that it would cut another 250,000 vehicles (around one third of normal production) from first quarter 2009, by temporarily closing 21 North American factories. Many will be closed for all of January.
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