Word: chryslers
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...Bailing Out the Big Three 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...
...Bailing Out the Big Three With regard to Bill Saporito's story, I have no sympathy for the Big Three automakers [Dec. 15]. For decades, Ford, GM and Chrysler fiercely opposed restructuring and green technology while egregiously mismanaging their businesses. The only reason they've gotten religion is that they're on the verge of bankruptcy. Mark Stuart Ellison, BROOKLYN...
Cerberus insists it is willing to stand behind the troubled automaker, but will that be enough? "Chrysler as we know it will cease to exist very soon," Kimberly Rodriguez, principal of the management consulting group Grant Thornton of Southfield, Mi., has flatly predicted...
...conserve cash, Chrysler also was forced to close permanently a factory in Newark, Del. where it was building its only hybrid vehicle, and it has dropped plans for an alliance with Chery, an expanding Chinese auto company, after months of laborious negotiations...
...Chrysler also eliminated 25% of its salaried- employee positions on the day before Thanksgiving, and plans to press ahead with demands for more cuts from the United Auto Workers. Cerberus has agreed to utilize the first $2 billion of proceeds from Chrysler Financial to backstop the loan allocated to Chrysler automotive...