The Canadian Auto Workers tentatively agreed late Friday to new concessions with Chrysler LLC that will save the automaker C$240 million annually and help avoid a bankruptcy filing, union President Ken Lewenza said.
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The Canadian Auto Workers tentatively agreed tonight to new concessions that will save the struggling automaker $240 million annually and help the carmaker to try to avoid a bankruptcy filing, CAW President Ken Lewenza said at a news conference.
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The Canadian Auto Workers tentatively agreed late Friday to new concessions with Chrysler LLC that will save the automaker C$240 million annually and help avoid a bankruptcy filing, union President Ken Lewenza said.
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Jim Press spent a busy day Friday trying to reassure Chrysler dealers to carry on with business as usual despite news reports that a bankruptcy filing may be imminent.
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Ford Motor Co. will keep its costs competitive with its two domestic rivals, which are going through federally supervised restructuring, CEO Alan Mulally says.
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Chrysler LLC's senior lenders and the U.S. Treasury Department remain far apart in talks to cut Chrysler's debt, despite a second proposal from each side.
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Chrysler lenders today offered to cut the $6.9 billion that the car maker owes them down to $3.75 billion, moving them closer to the Treasury Department's offer, people familiar with the negotiations said.
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The U.S. Treasury has given General Motors another $2 billion loan for working capital but has not provided new working capital funds to Chrysler LLC, a transaction report for the Treasury's Troubled Asset Relief Program showed today.
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The U.S. Treasury has given General Motors another $2 billion loan for working capital but has not provided new working capital funds to Chrysler LLC, a transaction report for the Treasury's Troubled Asset Relief Program showed today.
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This week's news highlights can be easily summarised: Q1 results (including Ford's better than expected numbers out today), Chrysler, Fiat, Marchionne, General Motors, Opel, Chapter 11 and Shanghai.
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Daimler hopes to sell its stake in ailing Chrysler by the end of the year.
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With a week remaining for Chrysler LLC to clinch a deal with Italy's Fiat S.p.A., the U.S.
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The US government is getting ready for a Chrysler Chapter 11 bankruptcy filing, US media reported last night.
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The US government is getting ready for a Chrysler Chapter 11 bankruptcy filing, US media reported last night.
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The head of the Canadian Auto Workers union said he expects to have a cost-savings agreement completed with Chrysler LLC today.
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The head of the Canadian Auto Workers union said on Thursday he expects to have a cost savings agreement completed with Chrysler by Friday morning.
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Only a few loose ends apparently remain to be tied up for the Canadian Auto Workers union to reach an agreement with Chrysler's executives concerning the reduction of labour costs in the country.
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Chrysler LLC's first-lien lenders are preparing another counteroffer to the U.S. Treasury that involves reducing the automaker's debt, sources familiar with the matter said on Thursday.
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The Treasury Department is preparing a Chapter 11 bankruptcy filing for Chrysler LLC that could come as soon as next week, The New York Times reported, citing people with direct knowledge of the matter.
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The Treasury Department is preparing a Chapter 11 bankruptcy filing for Chrysler LLC that could come as soon as next week, The New York Times reported, citing people with direct knowledge of the matter.
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