Posted on June 12th, 2009 • by David Zatz
Former Chrysler Corporation chairman and CEO Lee Iacocca has signalled his approval of the Fiat-Chrysler alliance, and co-write a welcome letter to Fiat and Chrysler CEO Sergio Marchionne. The 19,000-retiree-strong National Chrysler Retirement Association publicly offered its assistance as volunteer advisers in a Detroit News advertisement, which stated, “we would be willing to meet with [...]
•
Like on Facebook • Tags:
Chrysler,
Fiat,
Lee Iacocca,
retirees,
Sergio Marchionne.
Posted on May 18th, 2009 • by David Zatz
Workers at factories that are to be closed or sold have been offered early retirement. The plan covers hourly workers at Sterling Heights, Conner Avenue, St. Louis North, St. Louis South, Twinsburg Stamping, and Kenosha Engine; those whose combined age and years with the company are more than 85 years, and who are over 60 [...]
•
Like on Facebook • Tags:
Chrysler,
compensation,
employees,
factories,
healthcare,
retiree benefits,
retirees,
unions,
United Auto Workers.
Posted on May 14th, 2009 • by Bill Cawthon
The new Chrysler will continue benefits for its non-union, white collar employees if Fiat is allowed to buy the “good” assets of Chrysler LLC. Chrysler affirmed the commitment during a hearing today in which the retirees sought permission to form an official committee as part of the automaker’s bankruptcy proceedings. The motion to form the [...]
•
Like on Facebook • Tags:
bankruptcy,
Chrysler,
healthcare,
retirees.
Posted on May 14th, 2009 • by David Zatz
Reports from Auburn Hills claim that Chrysler executives, who are currently figuring out ways to avoid their obligations to suppliers, banks, and the retired engineers who created the company’s glory days, have already found a way around Federal limits on executive compensation: they will be employed by Fiat, and “loaned” to Chrysler. That will allow [...]
•
Like on Facebook • Tags:
Cerberus and Daimler,
Chrysler,
compensation,
employees,
executive compensation,
Executives,
Fiat,
Government loans,
retiree benefits,
retirees,
Treasury.
Posted on May 7th, 2009 • by David Zatz
Neil Roland, covering the Chrysler bankruptcy for Automotive News, wrote today that the 16,000 non-union retirees and their spouses will be represented in the stakeholder committee. A group of retirees said that up to this point, they had not been included in negotations. Delphi’s bankruptcy rulings eliminated health care for salaried retirees, while providing massive [...]
•
Like on Facebook • Tags:
bankruptcy,
Chrysler,
pensions,
retiree benefits,
retirees.
Posted on February 26th, 2009 • by David Zatz
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 [...]
•
Like on Facebook • Tags:
acquisition,
automakers,
bankruptcy,
banks,
Bob Corker,
Chrysler,
credit,
executive compensation,
Executives,
government,
lawyers,
market,
merger,
retiree benefits,
retirees,
stock,
Takeover.
