Posted on November 20th, 2009 • by Bill Cawthon
Steve Rattner, former head of the Obama Administration’s Auto Task Force, said replacing the management team installed by Cerberus Capital Mangement was one of the task force’s objectives in restructuring Chrysler. Rattner, who was speaking at Council on Foreign Relations-sponsored forum about the global auto industry, told the audience, “We wanted to have a completely [...]
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Posted on July 22nd, 2009 • by Bill Cawthon
Bob Nardelli, former CEO of the former Chrysler LLC, has made another soft landing in a tough employment market. He is the new CEO of Cerberus Operating and Advisory Company LLC which oversees the compnies in which the investment firm has an interest. Nardelli will also serve on Cerberus’s investment and valuation committees and be [...]
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Posted on June 10th, 2009 • by David Zatz
Dear Employees, Congratulations! I am pleased to report that we have closed the alliance agreement between Chrysler Group LLC and Fiat S.p.A. and have emerged from bankruptcy in record time. Chrysler Group now is a leaner, healthier and more robust company ready to compete in the challenging economy as an important player in the global [...]
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Posted on June 1st, 2009 • by Bill Cawthon
Chrysler LLC today announced that the U.S. Bankruptcy Court, Southern District of New York, has approved its request to sell substantially all of its operations to Chrysler Group LLC, the new company formed in alliance with Fiat SpA. “With this approval, the new Chrysler Group is created and can prepare to launch as a vibrant [...]
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Posted on May 28th, 2009 • by David Zatz
Bob Nardelli said today that he expected the sale of Chrysler, LLC assets to Chrysler Group, LLC to take place on May 29, 2009 (Friday), surprising some observers. On Monday, Nardelli said, he expected to report to Cerberus’ headquarters.
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Posted on May 2nd, 2009 • by Bill Cawthon
The U.S. Bankruptcy Court has granted Chrysler “first-day” motions including approval to continue paying wages and health and welfare benefits to regular and contract employees and support its customer warranty programs. “We accomplished a great deal today including approval of certain First-day motions, which will enable us to transition into Chapter 11 and maintain normal [...]
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