Keyword: chrysler

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  • Remember when getting a new car was a celebration, instead of being a stigma

    06/18/2011 3:20:59 PM PDT · by DallasBiff · 41 replies · 1+ views
    I noticed that a co-worker had gotten a new car while seeing each other in the parking lot and congratulated the person. The co-worker said "thank you", but stated that I shouldn't tell anyone else. The co-worker in my opinion felt they had a Scarlett Letter attached to them for buying not only a new car but an import model.
  • Ohio Restaurant Closes One Week After Obama Mentions it in Speech

    06/09/2011 8:58:04 AM PDT · by mandaladon · 39 replies
    The Blaze ^ | 9 Jun 2011 | Jonathon M. Seidl
    TOLEDO, Ohio (AP) — An Ohio restaurant mentioned last week by President Barack Obama as an indirect beneficiary of the government’s Chrysler bailout will go out of business Sunday after a more than 70-year history. Co-owner Richard Lawrence of New Chet’s Restaurant in Toledo says business has fallen victim to the economy and the workplace smoking ban approved by Ohio voters in 2006. He told The Blade newspaper of Toledo on Wednesday that auto industry cutbacks also hurt. Lawrence says he used to deliver up to $300 in food per week to Chrysler Group LLC’s Jeep plant in Toledo, but...
  • The Real Cost of the Auto Bailouts

    06/05/2011 4:42:46 PM PDT · by rhema · 14 replies
    WSJ ^ | 6/6/11 | DAVID SKEEL
    The government's unnecessary disruption of the bankruptcy laws will do long-term damage to the economy. President Obama's visit to a Chrysler plant in Toledo, Ohio, on Friday was the culmination of a campaign to portray the auto bailouts as a brilliant success with no unpleasant side effects. "The industry is back on its feet," the president said, "repaying its debt, gaining ground." If the government hadn't stepped in and dictated the terms of the restructuring, the story goes, General Motors and Chrysler would have collapsed, and at least a million jobs would have been lost. The bailouts averted disaster, and...
  • Proud of losing $14B (another Obamanomics success story)

    06/04/2011 11:24:15 AM PDT · by Libloather · 8 replies
    NY Post ^ | 6/04/11 | Rich Lowry
    Proud of losing $14BRich Lowry Last Updated: 3:15 AM, June 4, 2011 It's a sign of grim times indeed when the Obama administra tion is touting a potential $14 billion loss to the taxpayers as a great economic success. The White House is running on its auto bailouts as courageous acts that saved the industrial Midwest. It's a telling point of pride. In bragging about the bailouts of GM and Chrysler, the administration is boasting of a process shot through with lawlessness and political favoritism -- not to mention reckless disregard for taxpayer dollars. The administration believes it trumps all...
  • Chrysler Comeback Made Possible ONLY by Completely Ignoring Dear Leader's On-the-Spot Guidance

    06/03/2011 6:56:15 AM PDT · by Reaganite Republican · 9 replies
    Reaganite Republican ^ | June 3, 2011 | Reaganite Republican
    The Pickups and SUVs Obama had wished culled  from the lineup in 2009 now drive sales, profitablity Marchionne pretending to listen to statist bonheads FIAT has been making a lot of positive news over the last week, first by paying off all $5.9B of the US/Canadian auto bail-out loans to the US/CN Treasuries (six years early), then three days later announcing the acquisition of the entire US Government stake. This provides FIAT-and-Chrysler CEO Sergio Marchionne with complete control of Chrysler, thus ridding himself and his companies of the Obama Administration's unhelpful influence.Obviously Obama could use anything that resembles an economic success story right about...
  • Chrysler to sever US government ties

    06/02/2011 7:00:28 PM PDT · by Free ThinkerNY · 46 replies
    Associated Press ^ | June 2, 2011
    DETROIT (AP) -- Chrysler Group will soon sever its ties with the U.S. government. Italian automaker Fiat agreed Thursday to buy the U.S. Treasury's 6 percent interest in Chrysler for $500 million. Once the deal closes, the government will no longer hold a stake in the auto company.
  • A rescue worth fueling (Tax-Cheat Geithner Defends GM, Chrysler Bailouts)

    06/01/2011 10:46:16 AM PDT · by mojito · 3 replies
    WaPo ^ | 5/31/2011 | Timothy Geithner
    On June 1, 2009, General Motors filed for bankruptcy, backed by $30 billion in support from the federal government. The same day, in the same New York courthouse, a judge approved Chrysler’s plan to forge an alliance with Fiat and emerge from bankruptcy as a restructured business with an uncertain future. Two years later, all three American automakers have returned to profitability, the industry has added new shifts and 115,000 jobs, and GM and Chrysler have returned more than 50 percent of the government’s investment. The industry is mounting one of the most improbable turnarounds in recent history.
  • Govt to lose $14B of auto bailout funds

    06/01/2011 12:08:11 PM PDT · by Nachum · 16 replies
    Associated Press ^ | 6/1/11 | Staff
    Washington – The Obama administration said Wednesday that the government will lose about $14 billion in taxpayer funds from the bailout of the U.S. auto industry. In a report from the president's National Economic Council, officials said that figure is down from the 60 percent the Treasury Department originally estimated the government would lose following its $80 billion bailout of Chrysler and General Motors in 2009. The report's release coincides with the administration's efforts to tout the bailout's role in the revitalization of the U.S. auto industry after last week's announcement that Chrysler is repaying $5.9 billion in U.S.
  • Government May Lose $16 Billion on Auto Bailout

    06/01/2011 12:19:37 PM PDT · by Sub-Driver · 13 replies
    Government May Lose $16 Billion on Auto Bailout By JOSH MITCHELL WASHINGTON—The White House said Wednesday that taxpayers may never recover about $16 billion of the bailout money extended to the auto industry in 2008 and 2009, in a new report designed to tout the industry's turnaround from wide-scale bankruptcies. The White House released the report, "The Resurgence of the American Automotive Industry," ahead of President Barack Obama's trip Friday to a Chrysler Group LLC facility in Toledo, Ohio. The report said that of the $80 billion in bailout money for the industry, less than 20%, or $16 billion, may...
  • DNC Chairwoman Bashes GOP For Supporting Foreign Car Companies, Owns Foreign Car

    05/28/2011 10:13:22 AM PDT · by 2ndDivisionVet · 25 replies
    Mediaite ^ | May 27, 2011 | Josh Feldman
    It’s a general rule of thumb that whenever a politician says something negative about their opposition, they better not be guilty of the same thing, otherwise they would end up looking incredibly foolish. The latest pol to suffer from this is Democratic National Committee Chairwoman Debbie Wasserman Schultz. Since she began her tenure as head of the DNC, Wasserman Schultz has gone on the offensive against the Republicans. She accused the GOP of “waging war on the unemployed” and slammed their budget proposal as a “path to poverty.” But her latest attack on the opposition backfired in a major way....
  • Forget the spin. Taxpayers still on the hook for auto bailouts

    05/28/2011 4:06:57 PM PDT · by Hojczyk · 23 replies
    Washington ^ | May 26,2011 | Examiner Editorial
    President Obama and two of his biggest union allies -- the United Auto Workers and the United Steelworkers -- plan to make the automotive bailout "a central issue" in the 2012 election, Politico reports. Republicans should view this as an opportunity. No issue better illustrates the deception, cronyism, disregard for the rule of law, and bad economic decisions of this White House than the auto bailouts. On Tuesday, Obama announced that Chrysler had paid back all "outstanding loans to the U.S. Treasury and American taxpayers." This is highly misleading. American taxpayers still own a 6.6 percent stake in Chrysler, which...
  • 'We brought the American auto industry back from the brink of extinction': brags Biden

    05/28/2011 9:30:58 AM PDT · by Do Not Make Fun Of His Ears · 32 replies
    UK Daily Mail ^ | 5/28/11 | Daily Mail Reporter
    Detroit is no longer stuck in first gear. At least that's the message from Vice President Joe Biden, who trumpeted what he calls an impressive comeback for the U.S. auto industry. Mr Biden credited the Obama administration's intervention for the American auto industry's recovery from 'the brink of extinction' and pointed to Chrysler's early repayment of the federal loan that saved it from disaster. Mr Biden said: 'This announcement came six years ahead of schedule - and just two years after Chrysler Corp. emerged from bankruptcy. 'It's a sign of what's happening throughout the American automobile industry'. The announcement Saturday...
  • Fiat to gain Chrysler majority by buying U.S. stake

    05/27/2011 3:07:13 PM PDT · by markomalley · 7 replies
    Reuters ^ | 5/27/11
    Fiat SpA (FIA.MI) plans to exercise an option to buy the U.S. Treasury's stake in Chrysler, which paves the way for the Italian automaker to clinch a majority share in the company by early next month. Fiat notified the Treasury of its intent on Friday. The purchase price will be based on the equity value of Chrysler agreed by Treasury and Fiat within 10 business days. If Fiat and Treasury cannot settle on the price, the amount will be determined by two of three investment banks appointed by the company and the U.S. government. The option would allow Fiat to...
  • The fake Chrysler loan payoff

    05/27/2011 9:09:43 AM PDT · by Hojczyk · 11 replies
    Hotair ^ | May 27,2011 | Bruce McQuain
    This week Chrysler went through the same sort of shenanigans American taxpayers have already spent more than $13 billion bailing out Chrysler. The Obama administration already forgave more than $4 billion of that debt when the company filed for bankruptcy in 2009. Taxpayers are never getting that money back. But how is Chrysler now paying off the rest of the $7.6 billion they owe the Treasury Department? The Obama administration’s bailout agreement with Fiat gave the Italian car company a “Incremental Call Option” that allows it to buy up to 16% of Chrysler stock at a reduced price. But in...
  • 2D Circuit Court Acts Like Thugs To Shield Judicial Fraud on The Court in Chrysler Dealers Case.

    05/25/2011 11:33:51 AM PDT · by rxsid · 7 replies ^ | 05/25/2011 | Leo Donofrio
    "2D Circuit Court of Appeals Acts Like Thugs To Shield Judicial Fraud on The Court in Chrysler Dealers Case. The 2d Circuit Court of Appeals has issued Rule 38 sanctions against Steve Pidgeon and I, and they have refused to offer any review of the merits of our appeal, other than to say it was “utterly frivolous”: “As to the merits of Appellants’ claims, they are utterly frivolous. We reject these claims on the merits for substantially the same reasons set forth by the district court below.” No discussion of the facts at all. Our proofs that the Bankruptcy Court...
  • Chrysler doesn't repay bailout money to Treasury

    05/24/2011 11:01:20 AM PDT · by keat · 15 replies
    Reuters ^ | Tue May 24, 2011 1:25pm EDT | Glenn Somerville
    Washington (Reuters) - The Treasury department said on Tuesday that automaker Chrysler Group LLC has repaid $5.1 billion in bailout loans and ended its right to draw a remaining $2.1 billion. The government had committed a total $12.5 billion to Chrysler under the Troubled Asset Relief Program, known as TARP, and the company has now returned more than $10.6 billion of that in principal, interest and canceled commitments. Treasury continues to hold a 6.6 percent common share stake in Chrysler, which now is on firmer ground financially and is deepening its ties to Italian automaker Fiat SpA. "Treasury is unlikely...
  • The Worst Cars On The Road

    04/24/2011 3:43:16 PM PDT · by Nachum · 94 replies
    yahoo ^ | 4/24/11 | Hannah Elliott , Forbes
    When it comes to quality, efficiency, reliability, safety and overall value, these vehicles bring up the rear. By all accounts, Detroit's Big Three automakers have begun producing better-made, longer lasting, more efficient vehicles. It's a distinct change from the 1990s and early 2000s, when they fell behind their European and Asian counterparts in each category. "This change is not even a gradual thing," says Christine Overstreet, an automotive consultant and director of Heels and Wheels. "It's like they've said, 'OK, we really want to step it up, we really want to compete, we're ready.' After past years of being so...
  • Obama’s Stupid Car Tricks

    04/23/2011 6:59:00 PM PDT · by george76 · 31 replies
    National Review ^ | April 14, 2011 | Henry Payne
    Fiat just earned 5 percent more ownership in Chrysler for creating a product no one has bought yet. Payment for non-performance. If you suspect this is government’s benchmark for success, you’d be right. More precisely, this is how the Obama administration measures success. Let’s rewind the tape. Under King Obama’s gift of 20 percent of Chrysler to Fiat in 2009, His Highness decreed that Fiat would assume another 5 percent of the company upon production of a 4-cylinder engine in the United States. Not selling it. Simply producing it. ... But wait, there’s more. The Italian automaker will gain yet...
  • Chrysler To Join Honda In Selling Natural-Gas Cars...In 2017

    04/14/2011 10:30:08 AM PDT · by AJFavish · 19 replies
    GreenCarReports ^ | April 14, 2011 | John Voelcker
    With Chrysler's soon-to-be-owner Fiat successfully selling natural-gas vehicles (NGVs) in Europe and South America, analysts have suggested that Chrysler would develop and sell natural-gas cars and trucks as one element of its green strategy. Not 'til 2017? Now the company has confirmed it. Bob Lee, Chrysler's vice president for engines and electrified propulsion systems, said Monday that, "the technology is very actively being worked on."
  • How The Detroit News Sold Its Soul

    03/21/2011 1:06:12 PM PDT · by KingOfVagabonds · 28 replies
    Jalopnik ^ | 3/16/11 | Ray Wert
    Scott Burgess resigned today as The Detroit News auto critic after his editors bowed to a request by an advertiser to water down his negative review of the Chrysler 200. This is why we can't have nice reviews anymore.
  • Chrysler 200 Review Costs Man his Job

    03/21/2011 7:59:30 AM PDT · by Responsibility2nd · 43 replies
    Car critic quits over changed Chrysler 200 review Sify - ‎29 minutes ago‎ The auto critic at The Detroit News has resigned after editors told him to delete online portions of a scathing review of the Chrysler 200, a car that was promoted in a popular Super Bowl TV ad starring rapper Eminem. In the newspaper's March 10 print ... Detroit News publishes apology for altered review Atlanta Journal Constitution - ‎Mar 19, 2011‎ AP DETROIT — The Detroit News has published a front-page apology from its editor and publisher over the newspaper's decision to change sections of a scathing review...
  • Spider Webs and Loose Keys Cause Auto Recalls

    03/03/2011 2:26:03 PM PST · by afraidfortherepublic · 19 replies
    CBS Detroit ^ | 3-3-11 | none
    DETROIT (WWJ) – A big recall at Chrysler and a creepy one at Mazda. Spiders that can spin webs in fuel systems are causing Mazda to recall 52 thousand Mazda 6 sedans from the 2009 and 2010 model years. Those webs can cause damage to the fuel systems, and potentially lead to fuel leaks. Chrysler, meanwhile, is recalling about 250,000 vehicles to fix potential engine stalling. The company says it will recall 2010 Dodge Grand Caravan and Chrysler Town & Country minivans and 2010 Dodge Journey crossovers in the wake of reports that the ignition key could move while driving...
  • UAW named in sexual harassment lawsuit

    02/20/2011 10:56:13 PM PST · by george76 · 10 replies
    Left lane News. ^ | Feb 16th, 2011 | Drew Johnson
    The United Auto Workers union has been named in a sexual harassment lawsuit filed by a female Chrysler worker. The suit comes as the UAW attempts to organize at least one transplant automaker. UAW Local 51 member Janet Burney claims she was fired after she ended her relationship with Pat Byers, the son of UAW official. Byers’ father, John Byers, was a top-ranking UAW official, having held the office of co-director of the UAW-Chrysler National Training Center as recently as 2010.
  • Are You Tough Enough for Chrysler’s ‘Man Van’?

    02/09/2011 2:10:40 PM PST · by Responsibility2nd · 109 replies · 1+ views
    WSJ ^ | 02/09/2011 | Jeff Bennett
    Chrysler’s Dodge division plans to unveil its Caravan R/T, known as the Man Van, today at the Chicago Auto Show. This isn’t your mother’s minivan any more.Tricked out with a standard black-on-black interior, a leather-wrapped steering wheel, no roof rack and a V-6 engine, Chrysler Group LLC is set to pull the wraps off its new Dodge Caravan R/T – known more appropriately as the Man Van – at the Chicago Auto Show Wednesday.“When you sit behind the steering wheel you will feel you are driving a sports car. You completely forget, as long as you don’t look behind you,...
  • Chrysler’s Super Bowl travel log: selling cars or UAW propping up Detroit on Obama’s orders?

    02/08/2011 9:56:59 AM PST · by jmaroneps37 · 4 replies ^ | FEBRUARY 8TH, 2011 | Kevin “Coach” Collins
    Super Bowl commercials are very costly; up to $3 million for thirty seconds of time. This is why Chrysler’s two minute travel log promoting the Democrat run City of Detroit, which is thirty miles away from its Auburn Hills corporate headquaters, is worth noting. The estimates are that even after some negotiation the price of the ad was over $9 million. In a very real sense Chrysler’s former bond holders paid for the spot. Shopping for the “right” Bankruptcy Court In July 2009 Chrysler went into bankruptcy and stayed there just long enough to beat its bondholders out of their...
  • Chrysler releases $9m ad while requesting more taxpayer dollars

    02/07/2011 3:40:33 AM PST · by gusopol3 · 27 replies
    Washington Examiner ^ | February 7, 2011 | J.P.Freire
    You may have noticed that Chrysler released the longest ad in Super Bowl history on Sunday night, featuring the new Chrysler 200 driven by Detroit native rap star Eminem, an ad that CEO Sergio Marchionne says cost less than $9 million. But given that the company's CEO also announced this past week that is seeking a "better deal" on government loans, it is likely that this ad had more to do with getting political support than selling cars. Besides, is spending millions on a Super Bowl ad appropriate for a company that received a taxpayer bailout to recover from a...
  • Chrysler must shed 'shyster' bailout loans - CEO

    02/05/2011 4:53:37 AM PST · by Erik Latranyi · 33 replies
    Reuters ^ | 4 February 2011 | Deepa Seetharaman and Bernie Woodall
    SAN FRANCISCO, Feb 4 (Reuters) - Chrysler Group LLC is working to refinance what its chief executive characterized as "shyster loans" that the Obama administration extended as part of a bailout to keep the automaker from collapse in 2009. "I want to pay back the shyster loans," Sergio Marchionne said at an industry conference, using a derogatory term for an unethical lawyer or politician. "Pay back the loans, get those out and then take (the company) public." Marchionne, who is also CEO of Italy's Fiat SpA (FIA.MI), has said repeatedly that the high interest rates on loans Chrysler owes the...
  • Chrysler Workers Allegedly Spent Breaks at a Dope House

    02/04/2011 4:15:32 AM PST · by equaviator · 17 replies ^ | Thursday, 03 Feb 2011 | staff
    Three factory workers are suspended without pay after police catch them with drugs coming back from their lunch break. They work at the Jefferson North plant. A few months ago, Fox 2 cameras caught workers from that same plant chugging beer on their lunch breaks. Chrysler says our investigation prompted them to take a hard look at other employees at the plant, and that's what led to these latest workers getting busted. Fox 2's Simon Shaykhet has the story. (see video at source URL)
  • Chrysler Loses Money, Gives UAW Bonuses

    02/02/2011 1:24:51 PM PST · by jazusamo · 31 replies
    National Legal & Policy Center ^ | February 2, 2011 | Mark Modica
      Chrysler recently reported a 4th quarter loss of $652 million. So what does a UAW majority owned company that is losing money do? How about a bonus for UAW workers?Current Chrysler ownership breakdown puts the UAW at a 63.5% ownership stake while the US Treasury holds a 9.2% stake. Italy's Fiat currently owns 25%. Bonuses planned for UAW workers are estimated to average $750. It is disturbing that at the same time Chrysler plans for UAW bonus distributions they are back asking taxpayers for more money. Reuters reports that Chrysler has applied for $3 billion in subsidized loans...
  • A revved-up Chrysler, a lumbering economic bus

    11/25/2010 8:42:12 AM PST · by ChicagoConservative27 · 16 replies
    President Obama spent Tuesday in Indiana touting the economic recovery and the policies he has pursued. But the latest projections by the Federal Reserve constitute troubling news for the president and his advisers as they begin to look toward 2012. Obama had a good story to tell in Indiana. On the day of his visit, Chrysler announced that it would put $800 million into two of its facilities in Kokomo. That is in addition to a $300 million investment Chrysler announced earlier this year
  • Fiat Americanizes its 500, complete with cupholders

    11/20/2010 4:02:30 PM PST · by Seizethecarp · 101 replies
    Auto Week ^ | 11/15/2010 | BRADFORD WERNLE
    Nearly 27 years after leaving the United States, Fiat returns at the Los Angeles auto show this week with the 500. The U.S. car will have the same 1.4-liter engine as in Europe but will add "MultiAir," a Fiat engine-breathing system that the company says improves power 10 percent and cuts emissions 10 percent. The 500 will be manufactured in Chrysler Group's plant in Toluca, Mexico. Dealers will get their first cars in December, and the 500 will go on sale in January. The market launch is scheduled for March. The 500 will be sold in about 165 stores. As...
  • Chrysler opens 570 million dollar engine plant in Mexico (700 jobs)

    10/29/2010 8:21:34 PM PDT · by NormsRevenge · 36 replies
    AFP on Yahoo ^ | 10/29/10 | AFP
    MEXICO CITY (AFP) – US automaker Chrysler inaugurated a 570-million-dollar engine plant in northern Mexico Friday, the Mexican presidency said in a statement. Chrysler plans to produce its new Pentastar V-6 engine at the plant in Saltillo, in Coahuila state, for Chrysler, Dodge, Jeep and Ram vehicles. Chrysler's sixth plant in Mexico will produce up to 440,000 engines per year, the statement said. President Felipe Calderon said the plant would create 700 jobs.
  • Fiat CEO: We'd be better off without Italy [Praises Poland]

    10/25/2010 10:24:51 AM PDT · by wolf78 · 12 replies
    AP via Google | Oct. 25, 2010 | The Associated Press
    Fiat CEO Sergio Marchionne says the tradition-laden Italian automaker would be better off without Italy and its balky unions, provoking an angry reaction Monday from some labor and government officials. Fiat has been in tense negotiations with unions over its plan to shut down a factory in Sicily next year. The company has also said it wanted to move back production of one of its models from Poland to Italy, but in exchange for labor concessions that one union rejected. Fiat, which controls U.S.-based Chrysler LLC, has recently raised its 2010 forecasts, and Marchionne said that trading profit would be...
  • Worst Scandal Yet - More Than Watergate or Clinton's Lewinsky

    10/25/2010 7:20:29 AM PDT · by babygene · 77 replies · 1+ views ^ | 09/09/2009 | TheKingIsComing
    OBAMA THE CROOK. It Looks like Chrysler was Railroaded This could be a scandal of epic proportions and one that makes Nixon's Watergate or Clinton 's Monica Lewinsky affair pale by comparison. Why was there neither rhyme nor reason as to which dealerships of the Chrysler Corporation were to be closed? Roll the clock back to the weeks just before Chrysler declared bankruptcy. Chrysler, like GM, was in dire financial straits and federal government "graciously" offered to "buy the company" and keep them out of bankruptcy and "save jobs." Chrysler was, in the words of Obama and his administration, "Too...
  • Busted: Cops Find Pot in Man's New Jeep; He Gets Off Because it's a Chrysler

    09/27/2010 10:23:29 AM PDT · by toma29 · 21 replies
    Useful Info Nation ^ | 9/27/2010 | Thomas Bryan
    Maybe things are looking up for Chrysler as it seeks buyers of its brand. Pot smokers and people who drink and drive from all over are flocking to dealerships to trade in their Fords for what many are calling their "get out of jail free card." But it wasn't just the My Fox Detroit story about Chrysler workers smoking weed and drinking alcohol during their lunch breaks that has them in the buying mood. No, it's Darryl Dawson's story. On Friday, Darryl Dawson was on his way home after buying a new Jeep Grand Cherokee when he decided to celebrate...
  • Bailed Out Union Auto Workers Busted Boozing, Smoking Weed

    09/23/2010 9:04:20 AM PDT · by · 33 replies
    This is actually a highly entertaining video. A Chrysler factory in Detroit received a $6 billion bailout from Obama, so a local Fox reporter began showing up to chronicle what the workers were doing. What ensues is definitely worth watching.
  • Chrysler bosses sue over lost pensions(Lee Iacocca, one of them)

    09/11/2010 2:54:33 AM PDT · by TigerLikesRooster · 7 replies
    AFP ^ | 09/10/10
    Chrysler bosses sue over lost pensions (AFP) – 11 hours ago DETROIT, Michigan — More than 450 Chrysler bosses including ex-chairman Lee Iacocca sued Daimler AG and Cerberus Friday claiming they lost 100 million dollars in pensions in the automaker's bankruptcy. One of the lawyers, Sheldon Miller, said supplemental pensions were not transferred to the new Chrysler during its restructuring in 2009 and "as a result, each of the plaintiffs lost large percentages of their earned retirement pensions." The class action lawsuit launched on Friday claims Daimler failed to protect the supplemental pensions properly. Daimler could have converted pensions into...
  • Obama 'seemed to have it in for for the automakers' -- Car Czar

    09/02/2010 2:38:36 PM PDT · by Justaham · 24 replies ^ | 9-2-10 | Ed Lasky
    Steven Rattner, Obama's handpicked car czar, has written a forthcoming new book, Overhaul, which makes some interesting admissions. Though Rattner praised Obama's thoughtful manner when he calmly executed his decisions, the car czar notes that the president seemed to have it in for the automakers from the beginning. Sounds about right for this president. Because Rattner has zero need for book sales to make money (he is quite wealthy) this has the ring of truth. Rattner goes on though to claim that Obama did not seem to be much in favor of helping auto unions either. But Rattner notes that...
  • Going Further on the Same Tank

    08/20/2010 12:37:03 PM PDT · by epithermal · 16 replies
    MIT Technology Review ^ | August 19, 2010 | Julie Halpert
    A technology coming to Chrysler vehicles can improve the fuel economy of standard gasoline engines by 25 percent. Chrysler is unveiling a way to squeeze more fuel efficiency out of existing gasoline engines, adopting a technology pioneered by Fiat, which controls Chrysler. The effort represents the latest strategy by automakers to meet federal standards that require an automotive fleet to get an average of 35.5 miles per gallon by 2016.
  • Chrysler's Gun-Toting Pickup Truck

    08/13/2010 8:33:55 AM PDT · by Boogieman · 67 replies · 1+ views ^ | 8/13/2010 |
    Chrysler's Ram truck division is taking direct aim at hunters with a unique feature on its new line of Outdoorsman pickup trucks - a gun closet. Called the The Mopar RamBox Holster, its a rack that can hold two rifles or shotguns inside one of the lockable, watertight compartments...
  • Bailed Out Firms Spend Millions on Political Causes, Federal Lobbying

    08/06/2010 7:14:45 PM PDT · by AuntB · 14 replies
    FOX NEWS ^ | Aug. 6, 2010 | Stephen Clark
    Several companies that escaped financial failure two years ago through massive taxpayer-funded bailouts are spending millions of dollars to make donations to political causes and even some candidates' campaigns. General Motors, Chrysler and Citigroup are just three of the biggest bailout recipients who have continued to remain politically active, through their political action committees, federal lobbying or direct donations to the pet projects of lawmakers. The potential public relations disaster for firms spending big dollars on political causes and federal lobbying after being extended a taxpayer lifeline has led some, such as AIG, Fannie Mae and Freddie Mac, to suspend...
  • Obama is Wrong About Auto Bailout

    08/05/2010 3:06:36 PM PDT · by jazusamo · 27 replies
    National Legal & Policy Center ^ | August 5, 2010 | Peter Flaherty
      The auto bailout is a massive failure. It did not save jobs. It is a fallacy to claim that more jobs exist in an economy because particular firms have been saved from going out of business. Automobile jobs exist in the United State because of consumer demand for automobiles. Bailing out car companies does not increase demand, nor will it increase the number of cars built and sold.All the auto bailout did was shift jobs from one set of firms to others. Because GM and Chrysler are poorly managed, and are joined at the hip with the United...
  • Chrysler to add 900 jobs to midsize-car plant

    07/30/2010 10:25:14 AM PDT · by wmileo · 53 replies · 1+ views
    AP ^ | July 30, 2010 | Tom Krisher
    DETROIT (AP) -- Chrysler Group LLC said Friday that it will add nearly 900 jobs at a factory in suburban Detroit. Its decision is a show of optimism that consumers will embrace its redesigned midsize sedans. The company made the announcement at another Detroit-area plant just before President Barack Obama spoke there about the success of the government-funded auto industry bailout. The jobs will staff a second shift at Chrysler's assembly plant in Sterling Heights, Mich., just north of Detroit. The plant makes the slow-selling Dodge Avenger and Chrysler Sebring midsize sedans. In the fall, the company plans to start...
  • Vanity: Obama speech at GM (This guy is insane)

    07/30/2010 9:40:36 AM PDT · by nhwingut · 23 replies · 2+ views
    Vanity | 07/30/10 | Self
    Zero pounding chest about "jobs saved." Basically a campaign rally at GM!
  • Shoddy Reporting Concerning Closed Chrysler Dealers: What.TARP Inspector General Report Does NOT Say

    07/29/2010 1:19:12 AM PDT · by STARWISE · 8 replies · 2+ views
    Natural Born Citizen ^ | 7-23-10 | Leo Donofrio
    The TARP Inspector General’s office, SIGTARP, recently released a report entitled, “Factors Effecting The Decision of General Motors and Chrysler To Reduce Their Dealership Networks“. This report set off a firestorm of shoddy reporting, which, if left unchecked, will confuse those familiar with the Chrysler Dealers’ pending litigation on appeal in federal district court. This blog posting has been designed to educate the public as to the truth of the SIGTARP Report. My assertion of shoddy reporting is levelled specifically at The New York Times, the AP, and unfortunately also at Michelle Malkin who has been a staunch supporter of...
  • Race Played Role in Obama Car Dealer Closures

    07/22/2010 7:25:12 AM PDT · by MtnClimber · 73 replies · 1+ views
    American Thinker ^ | July 22, 2010 | William Tate
    The Obama administration, already under fire for unprecedented allegations of racial bias, faces a new bias claim from a most unlikely source: one of the administration's own inspectors general. Decisions on which car dealerships to close as part of the auto industry bailout -- closures the Obama administration forced on General Motors and Chrysler -- were based in part on race and gender, according to a report by Troubled Asset Relief Program Special Inspector General Neal M. Barofsky.
  • The bungling of the auto bailout

    07/22/2010 2:49:51 AM PDT · by Scanian · 17 replies
    NY Post ^ | July 22, 2010 | Michelle Malkin
    Everything you need to know about the nightmare of government-controlled busi nesses can be found in a damning new inspector-general's report on how and why the Obama administration forced Chrysler and General Motors to oversee mass closures of car dealerships across the country. Under the guise of "saving" the US auto industry through a taxpayer-funded bailout now topping $80 billion, President Obama's bureaucrats pushed the car companies to eliminate thousands of jobs -- with unjustified haste using dubious economic models. Obama ordered the bailout recipients to "prove" their long-term viability by submitting restructuring plans. But White House and Treasury Department...
  • Washington Bureaucrats Can't Run the Auto Industry

    07/21/2010 3:11:44 AM PDT · by gusopol3 · 13 replies · 2+ views
    Washington Examiner | July 21, 2010
    An audit by Neil Barofsky, the special inspector general for the Troubled Asset Relief Program, found that President Obama's auto task force arbitrarily closed many profitable dealerships, destroying thousands of jobs "based on a theory and without sufficient consideration of the decision's broader economic impact." Barofsky observed that Chrysler and GM were subsequently forced to reinstate more than 700 of the approximately 3,000 disenfranchised dealers, "suggesting, at the very least, that the number and speed of the terminations was not necessarily critical to the manufacturers' viability." One more thing: China has a virtual monopoly on neodymium, a rare earth metal...
  • TRENTON: Police looking for man accused of destroying property at engine plant

    07/20/2010 9:27:59 AM PDT · by Attention Surplus Disorder · 26 replies
    The News Herald ^ | July 17, 2010 | Anne Sullivan
    By Anne Sullivan TRENTON — Police are looking for a man accused of damaging engines as they were being built at the Chrysler Trenton South Engine Plant. Robert Allen Colling, 55, of Washington Township is wanted on one count of attempted malicious destruction of personal property. It is a felony charge that carries a penalty of 2 1/2 years in prison or a $5,000 fine, police Sgt. Mark Enright said. “Chrysler (officials) found some bolts in engine blocks, and apparently there were witnesses who saw him walking in the area (and) drop bolts into a cylinder head,” he said. “They...
  • Obama's 'Mandate for Sacrifice' Costs Thousands of Jobs

    07/20/2010 6:30:44 AM PDT · by NMRed · 9 replies · 1+ views
    American Thinker ^ | 07/20/2010 | William Tate
    As many as 100,000 Americans who lost their jobs, or will soon, because of GM and Chrysler dealership closings can thank Barack Obama and his "mandate for shared sacrifice," according to a top Obama official. In a scathing report on the federal auto industry bailout, Special Inspector General Neil M. Barofsky notes that the Obama administration rejected initial automaker plans which would have required relatively minimal dealership closings, insisting instead on far more drastic cuts -- as many as two thousand dealerships between the two corporations. (snip) And Barofsky's report even questions whether the closures would lead to any real...