Chrysler Group will be publicly unveiling its new luxury expense policy later today. The plan was approved in July and was posted on an internal company website. It has also been turned over to the Treasury Department. [more]
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 [...]
As many as 90 Chrysler dealers who survived the recent purge are now confronting another challenge: GMAC is cutting off their financing.
GMAC, which replaced Chrysler Financial as dealers’ primary source of funding, has received applications from roughly 60 percent of the remaining Chrysler dealers and has rejected about six percent of them. The rejected dealers [...]
General Motors confirmed today that no organizational other than the Treasury has submitted a bid for the giant automaker, until recently the world’s largest. The U.S. Treasury is likely to continue with its plan to provide up to $30 billion in Chapter 11 financing to keep the automaker alive. The next step is a hearing [...]
Lee Iacocca, Chrysler’s CEO the last time it needed financial help from Washington, says the new Chrysler Group needs to repay billions of dollars in federal loans as fast as it can.
Iacocca, now 84 and living in California, was not happy to see Chrysler under government control again, but admitted the alternative was probably [...]
A small group of creditors are appealing to the Supreme Court after their appeal was denied. One key creditor is a group of Indiana pension funds under the rule of elected official Richard Mourdock.
One of the judges noted that, under the TARP law, no interference with the Treasury’s “truly extraordinary” powers was possible unless there [...]
On Friday, the U.S. Treasury, obviously expecting Judge Arthur Gonzalez to approve Chrysler’s transfer of assets as early as tomorrow, set up a new company to receive them.
The new company, NewCarCo Acquisition, LLC, is based in Wilmington, Delaware and already has $6,943,000,000 in its account, courtesy of Uncle Sam. This is the funding the Obama [...]
Allpar covers all Chrysler and related vehicles* with news, performance tips, forums, histories, repairs, racing, and more. Use the menus on top of the pages!
Cars - Engines - History - Forums - Repairs - Reviews - Other car reviews - Us - Terms of Service - News - Random link -
Corrections/Additions
Please read the terms of use! * Mopar, Dodge, Jeep, Chrysler, HEMI, and certain other names are trademarks of Chrysler, LLC. We are not Chrysler. We are not responsible for the consequences of actions taken based on this site and make no guarantees regarding validity or applicability of information or advice. The Webmaster is not an expert. Copyright © 1998-2000, David Zatz; copyright © 2001-2008, Allpar LLC. All rights reserved.
Allpar's Chrysler, Dodge, and Jeep news is powered by WordPress . Subscribe to our RSS feed
This blog uses the cross-linker plugin developed by Web-Developers.Net
SEO Powered by Platinum SEO from Techblissonline