Word: chrysler
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...Bailing Out the Big Three I am unmoved by the plight of the Big Three automakers [Dec. 15]. For decades, Ford, General Motors and Chrysler fiercely opposed corporate restructuring and green technology while egregiously mismanaging their businesses. The only reason they've recently gotten religion is that they're teetering on the verge of bankruptcy. Mark Stuart Ellison, Brooklyn, New York...
With regard to TIME's COVER story, I have no sympathy for the Big Three automakers [Dec. 15]. For decades, Ford, General Motors and Chrysler fiercely opposed corporate restructuring and green technology while egregiously mismanaging their businesses. The only reason they've recently gotten religion is that they're teetering on the verge of bankruptcy. Mark Stuart Ellison, BROOKLYN...
...NASA discovers what could perhaps be traces of fossils fuels on Mars. GM, Ford and Chrysler immediately halt R&D on any fuel-efficient cars...
...With General Motors warning that it would run out of money by the end of the month and Chrysler not far behind, the pressure is now firmly on the Bush Administration to find a way to provide $14 billion in short-term loans to keep the companies on life support until a new Congress and the incoming Obama Administration can hammer out a comprehensive solution next year. The White House had been dead set against the Democrats' original entreaties to use money from the $700 billion Troubled Assets Relief Program, known as TARP, passed by Congress in September to stabilize...
...Chery will need all the help it can get. The global financial crisis is dampening the recent hopes of Chinese carmakers to become major international players. Chery's ambitions took a hit this week when a joint project with Chrysler to develop a small car for sale in the U.S. and elsewhere was terminated. In a statement, Mike Manley, Chrysler's executive vice president for international sales and marketing, said that the decision to cancel the cooperation agreement was made jointly by both companies because they "have realized that the economic situation and market environment around the world have changed...