Chrylser LLC intends to use money and bankruptcy court authority to keep its supplier base together during two months in which it likely will not produce vehicles.
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Chrysler LLC's parts suppliers will be hurt severely by the loss of revenues as the automaker halts all North American manufacturing until it emerges from bankruptcy -- especially if the process lingers beyond the expected 30 to 60 days.
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In today's News Brake: We take a look at where things stand now that Chrysler has filed for bankruptcy; the GTA Spano is ready to roll in Spain; and we catch a look at changes for the BMW 6-series ... But Wait, There's More!
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Chrysler plans to close eight U.S. plants by December 2010, including five assembly operations, according to documents filed in U.S. Bankruptcy Court in New York. But Chrysler expects its pending alliance with Fiat S.p.A.
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Chrysler LLC's fragile overseas operations are largely thrown into limbo by the carmaker's bankruptcy filing and alliance with the Italian automaker Fiat S.p.A.
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Nissan Motor Co. and Mitsubishi Motors Corp., the two Japanese automakers entwined in product-sharing partnerships with Chrysler LLC, face divergent fates after the U.S. company's bankruptcy filing.
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Chrysler's second-largest unsecured creditor is BBDO, Detroit, which is on the hook for $58.1 million, according to the automaker's bankruptcy filing.
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Bankrupt automaker Chrysler LLC idled its manufacturing plants on Friday, its lawyer Corinne Ball said during the company's first court hearing.
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The plight of the automotive industry has dominated not only the business pages of the world's newspapers but also the front pages to such an extent recently, you'd think its performance was the sole barometer for economic recovery. This week Chrysler, GM, Fiat, Honda, Renault grab the headlines.
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Italian Industry Minister Claudio Scajola has welcomed news of a deal between Chrysler LLC and Fiat, saying he would work to facilitate dialogue with Italian trade unions.
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Already financially stressed North American suppliers are feeling more pressure now that Chrysler has said it will temporarily idle much of its manufacturing capacity while it is in Chapter 11.
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When Cerberus Capital Management LP struck a $7.4 billion deal to buy Chrysler in May 2007, it made a big, risky bet that it could succeed in turning around an American icon.
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The prospect that both Chrysler LLC and General Motors are about to fall under the control of the UAW and the U.S. government is seen by few as a recipe for the success of either automaker.
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Standard & Poor's has said it may cut ratings on six North American auto suppliers after Chrysler's bankruptcy filing.
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Standard & Poor's has said it may cut ratings on six North American auto suppliers after Chrysler's bankruptcy filing.
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GMAC Financial Services has announced that it has entered into an agreement with Chrysler LLC to provide automotive financing products and services to Chrysler dealers and customers.
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Chrysler LLC's plan to emerge from bankruptcy hinges on an increasingly popular restructuring move -- the early sale of core assets into a separate company -- and that move, while controversial, may end up being what makes it work.
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Thousands of Chrysler LLC dealers who face the loss of floorplan financing will have an opportunity to sign up with GMAC by mid-May.
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The deal that could have saved Chrysler LLC fell apart over the objections of a handful of fund managers and touched off an immediate debate over the responsibility of investors and the role of government.
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The future might be uncertain for GM and Chrysler, but at Ford, the morale must be a lot better. They started their crash diet two years ago, and they're not on the verge of destruction. That's no reason for standing still, however, so Ford is aiming to resist the U.S. economy slump by offering solid new products, not far-away promises.
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