Two senior executives hired by new CEO Bob Nardelli soon after Cerberus Capital Management bought Chrysler in mid-2007 are leaving in a reshuffle of the automaker's global sales and marketing organisation.
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Chrysler today announced that its head of marketing, Deborah Wahl Meyer, and its Asia chief, Phil Murtaugh, will leave the company. The automaker said Meyer's departure is immediate and Murtaugh will leave at the end of December.
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Chrysler today announced that its head of marketing, Deborah Wahl Meyer, and its Asia chief, Phil Murtaugh, will leave the company. The automaker said Meyer's departure is immediate and Murtaugh will leave at the end of December.
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President Bush has announced that his administration will provide US$13.4bn in short-term loans to GM and Chrysler. The money will come from the US$700bn Troubled Asset Relief Programme (TARP), originally intended to provide financial institutions with emergency liquidity.
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President Bush has today announced that his administration will provide US$13.4bn in short-term loans to GM and Chrysler.
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President Bush has today announced that his administration will provide US$13.4bn in short-term loans to GM and Chrysler.
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After weeks of uncertainty and contentious debate, General Motors and Chrysler will get up to $17.
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Detroit finally got a break at the end of a depressing week when president Bush - no doubt mindful of not leaving an automaker meltdown as part of his legacy - finally announced the administration would provide US$13.4bn in short-term loans to GM and Chrysler.
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The White House has raised the b-word for the first time as a possible way to save financially-troubled General Motors and Chrysler.
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General Motors and Chrysler made significant progress late Thursday on a deal to secure emergency loans as part of a U.S. government aid package, sources familiar with the talks said.
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General Motors and Chrysler LLC made significant progress late Thursday on a deal to secure emergency loans as part of a U.S. government aid package, sources familiar with the talks said.
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General Motors and Chrysler LLC could get the first installment of $17.4 billion in federal emergency loans as soon as Dec. 29, the Bush administration says.
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General Motors Corp. and Chrysler LLC are close to securing emergency loans as part of a U.S. government aid package that would demand sweeping restructuring, according to sources familiar with the talks.
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President Bush has just announced emergency federal loans will be issued to prevent the collapse of General Motors and Chrysler LLC. The announcement came during a White House press conference earlier today.
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The economic situation being what it is, North American consumers are having more trouble obtaining credit for major purchases such as real estate or vehicles. The effect of the lack credit is visible in the American auto industry, more specifically at Chrysler where sales have dropped between 20 and 25%.
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Chrysler has developed a number of significant partnerships in the area of powertrain. They can help to buffer risk and ensure maximum technology coverage to underpin competiveness. Bob Lee, Chrysler's VP for Powertrain Product Engineering, tells just-auto editor Dave Leggett how that works and also considers the challenges ahead for both Chrysler and the auto industry generally.
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Chrysler LLC will not abandon the NASCAR racing circuit but will reduce spending, a top executive said today. Mike Accavitti, director of Chrysler's Dodge brand and motorsports, said the automaker would not end its involvement with the sport.
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The White House said today it is considering the option of an "orderly" bankruptcy as it weighs aid for U.S. automakers and Chrysler LLC prepared to shut down all of its 30 factories for a month.
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President George W. Bush will not allow a "disorderly collapse" of the struggling U.S. automakers and will take into account Chrysler LLC's decision to halt production for a month as he weighs emergency aid, a spokeswoman said.
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Chrysler LLC advertising agency BBDO North America said today it is eliminating 189 positions, about 6 percent of its work force.
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