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Tag Archive for 'Gettelfinger'Gettelfinger: Chrysler, GM may not need additional loans January 6th, 2009 by Bill Cawthon
United Auto Workers union president Ron Gettelfinger says Chrysler and GM may not need additional federal funds beyond the $17.4 billion already approved. UAW okays suspension of jobs bank December 3rd, 2008 by Bill Cawthon
United Auto Workers President Ron Gettelfinger announced the union will agree to suspend the Jobs Bank program and will allow Chrysler, Ford and General Motors to delay their payments to the Voluntary Employee Beneficiary Association (VEBA) that is due to assumer responsibility for retiree health care in 2010. The announcement came following an emergency meeting between Gettelfinger and the presidents and chairmen [...] UAW backs down, Chrysler asks for loonies November 20th, 2008 by DaveAdmin
Canada’s Globe and Mail reported today that Chrysler Canada had asked the federal and Ontario governments for $1 billion (Canadian) in loans to survive through the current crisis. One quarter of Chrysler’s manufacturing is done in Ontario, with all minivans and rear-drive cars currently built there. Cerberus running out of cash for Chrysler November 7th, 2008 by Bill Cawthon
Chrysler is draining its financial reserves rapidly, according to sources cited in a Reuters report. Hundreds of millions of dollars in additional incentives and supplier payments have added to its cash burn and the company may have difficulty funding its operations after the first half of 2009. Big Three leaders make plea for (at least) another $25 billion November 6th, 2008 by DaveAdmin
The Associated Press reported that leaders of General Motors, Ford, Chrysler, and the UAW requested financial assistance from Congress. Specifically, the companies and union asked for $25 billion in federal loans to fund their contributions to health care trusts created in 2007, and for help in gaining access to the Treasury’s $350 billion bailout fund [...] Sources say Chrysler merger taking back seat to GM survival November 6th, 2008 by Bill Cawthon
Knowledgeable sources say General Motors will not include a merger announcement in its “important changes” to be announced tomorrow along with its quarterly earnings. In fact, they say merger discussions have taken a back seat to GM’s push for federal financial aid to help the automaker to stay afloat. UAW hires Girsky to advise on merger, bailouts October 31st, 2008 by Bill Cawthon
Automotive News reports the United Auto Workers union has hired veteran Wall Street consultant Stephen Girsky to advise it on the potential merger of Chrysler and General Motors as well as automakers’ efforts to get a bailout from the federal government. |
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