Word: llc
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...nervous. With sales running at less than 10 million units annually - the lowest level in more than three decades - there is still a mountain of inventory sitting with dealers around the U.S. despite deep cuts in production, not only by the bankrupt General Motors Corp. and Chrysler Group LLC, but also by companies such as Toyota, Ford and Nissan. (See the 50 worst cars of all time...
...cemented on June 10 after the U.S. Supreme Court declined to hear a challenge to the deal brought by Chrysler's creditors and concerned consumer groups. The White House--backed arrangement gives Fiat a controlling stake in the embattled 84-year-old company, which will be called Chrysler Group LLC and could serve as a model for the reorganization of larger rival General Motors, which filed for bankruptcy on June 1. The pact--the latest attempt to salvage America's sagging auto industry--creates the world's sixth largest car manufacturer. Analysts expect Chrysler to capitalize on Fiat's strengths...
...reorganized Chrysler Group LLC postponed the annual press preview of new cars at its proving ground near Chelsea, Mich. - all part of the production stoppage while the company waited out bankruptcy proceedings. But even during that downtime, Chrysler's American engineers and designers were busily exchanging notes with their counterparts at Fiat, just as they have been doing for the past six months...
Advocates remain upbeat that the deal will get a green light. "We believe that we're on very solid legal ground to get this settlement approved," says Michael Boni, a partner at Boni & Zack LLC, which represents the Authors Guild. "So we're really not considering any doomsday scenarios at this point...
...Last month, Picard also completed the auctioning off of Madoff's market maker business for $25 million to Castor Pollux Securities LLC of Medfield, Massachusetts, which paid $1 million at closing and up to $24.5 million in deferred compensation through December...