Word: chryslers
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...government has gone so far as to say that it will guarantee warranties on GM and Chrysler cars. To quote the President directly "Let me say this as plainly as I can. If you buy a car from Chrysler or General Motors, you will be able to get your car serviced and repaired just like always. Your warranty will be safe. In fact, it will be safer than it has ever been. Because starting today, the United States will stand behind your warranty." Unfortunately, many people don't understand what it means for the government to back a warranty...
...After years of poor management or bad luck, GM and Chrysler have reached the point where they are not viable as independent companies. They need U.S. aid whether they remain "solvent" or have to get court protection. Almost every American has seen that news on TV or read about it in the paper. It will be hard to imagine what consumers will think when they find out that a company which was the largest corporation in the U.S. for years is bankrupt. It is like finding out that the telephone company has gone out of business. (Perhaps people actually...
...there was some understandable tension when the two men sized each other up in January over coffee at their first face-to-face meeting. When Rattner outlined the draconian marching orders Geithner had given him to try to save General Motors and Chrysler, Bloom paused and laid down a marker. He saw the job as a potential capstone in a career spent championing labor interests during years of industrial restructuring. He understood that the situation called for tough medicine for autoworkers. But I also want you to know, Bloom said, that I've dedicated my life to preserving as many...
...labor. And in a way that happens more frequently in literature than in life, Rattner and Bloom are neatly drawn avatars for the opposing sides of that argument. As such, they make a complementary team to resuscitate the moribund automakers. Out of money and out of options, GM and Chrysler can be saved from complete dissolution only by a government effort to reconcile management, workers and creditors to a much-diminished future. If Rattner and Bloom can find common ground, perhaps those dueling interests...
...debt, made a bad investment and should lose all their money, says one person familiar with the President's auto task force. Rattner also took the point in ousting GM chief Rick Wagoner over the weekend. Bloom, for his part, has taken day-to-day leadership in talks between Chrysler and Italian automaker Fiat. His union bona fides have made him the point man with the United Auto Workers union and its chief, Ron Gettelfinger. (See the 50 worst cars of all time...