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 [...]
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 [...]
Posted on January 27th, 2009 • by Bill Cawthon
Update to Employees on Constituent Concessions Jan. 26, 2009 To all Chrysler employees, Over the weekend, the senior leadership teams of Fiat S.p.A. and Chrysler LLC held an informal meeting in Auburn Hills. Fiat CEO Sergio Marchionne and several members of his team spent time talking to our executives and visiting a display of our [...]
Posted on November 18th, 2008 • by David Zatz
Chrysler LLC Chairman and Chief Executive Bob Nardelli read the following statement to the U.S. Senate Committee on Banking, Housing and Urban Affairs, on Nov. 18, 2008: Mr. Chairman, members of the Committee, I appreciate this opportunity to address the current economic and financial crisis, the impact it is having on the automotive industry, and [...]