Chrysler LLC needs an emergency bridge loan from Congress if it is to survive and execute a plan that will help it compete, the automaker's president said today.
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Chrysler president and vice chairman Jim Press today (2 December) met Maryland Port Authority employees and state officials to discuss the scope of the auto industry and its local impact from an auto trade perspective.
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Chrysler president and vice chairman Jim Press is scheduled later today (2 December) to meet Maryland Port Authority employees and state officials to discuss the scope of the auto industry and its local impact from an auto trade perspective.
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Daimler has said that the sale of its remaining 19.9% stake in Chrysler to Cerberus has been complicated by the 'exaggerated demands' made by Cerberus.
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Like many in Congress, many Americans are reluctant to support a bridge loan for General Motors, Ford, and Chrysler, a recent Morpace Omnibus Study showed.
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Private equity firm Cerberus is demanding more than $7 billion from Daimler over losses that followed its 2007 acquisition of Chrysler in a bitter dispute that could overshadow a plea for U.S. government aid for Chrysler.
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Daimler AG says Cerberus Capital Management LP is making new and )x("",exaggerated demands that have hampered Daimler's effort to sell its 19.9 percent stake in Chrysler Holding LLC to the private equity firm.
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Chrysler LLC is prepared to meet "accountability and viability" criteria requested by Congress as a condition for considering a government bailout for the auto industry, CEO Bob Nardelli said. U.S.
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Nissan Motor Co. will start producing a new compactcar for Chrysler LLC at its Aguascalientes assembly plant in central Mexico in early 2009, a Nissan spokesman said yesterday.
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As PR gaffes go, it was a pretty large one. Top executives from GM, Ford and Chrysler did themselves no favours last week by going cap in hand to Washington for financial help - and arriving in private 'planes.
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Debate is rampant about whether some form of federal aid is headed to the Detroit 3. Late last week, Democrats crafted a set of requirements that General Motors, Ford Motor Co. and Chrysler LLC must submit with their loan applications.
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Debate is rampant about whether some form of federal aid is headed to the Detroit 3. Late last week, Democrats crafted a set of requirements that General Motors, Ford Motor Co. and Chrysler LLC must submit with their loan applications.
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With federal bailout money on the line, Chrysler CEO Bob Nardelli last week gave the world a peek at his private company's finances. The picture behind the veil wasn't pretty. Chrysler is running on fumes and may run out of cash by year end.
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Could GM, Chrysler or Ford survive a bankruptcy filing? Could the domestic industry? The CEOs of the Detroit 3 answered with an emphatic "no" last week when some Washington lawmakers broached bankruptcy and#x2014; even a quick, prepackaged one...
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True innovations from the American automakers were few and far between at the Los Angeles Auto Show, but they did take the opportunity to demonstrate their know-how in terms of alternative powering methods.
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Minnesota auto dealer Denny Hecker, who sued Chrysler Financial after his credit line was cut off two weeks ago, closed six of his stores and sold three others, costing 400 employees their jobs.
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About 14,000 Chrysler LLC white-collar employees are agonizing this weekend over whether to take buyout packages offered by the company. They have until the end of business Wednesday to decide.
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Chrysler's Canadian unit has asked the Canadian and Ontario governments for C$1 billion in financial assistance to help it through the global economic crisis, according to a Canadian newspaper report.
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Chrysler is interested in returning to merger talks with GM, according to a report in the Financial Times.
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