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Four months after exiting a U.S.-funded bankruptcy reorganization, Chrysler Group LLC is about to unveil a product roadmap that relies heavily on vehicles from Italian partner Fiat SpA while abandoning many of the U.S. car maker's own models. The plan, due to be revealed Nov. 4, involves the return of Fiat's premium, sporty Alfa Romeo brand to the U.S. starting in 2012, according to people briefed on the plans. Chrysler also will introduce to Americans the 500, Fiat's tiny car that is popular in Europe. The company meantime is preparing to phase out many of the company's current models, particularly...

As part of the Fiat - Chrysler alliance, the Italian carmaker will bring several new models in the United States but the 500 mini car will be the only one to be sold under the Fiat badge. The car is going to be produced by Chrysler in Mexico and, according to people close to the matter, the US-based former bankrupt automaker has already required suppliers to make sure that their parts are enough for around 100,000 Fiat 500. The Fiat 500 produced in Mexico will be sold in the US, Canada and South America, Bloomberg reported, with initial production goals...

Chrysler thinks its future may be in a new lineup of smaller cars based on models from Italian partner Fiat. The question is how to make them for Americans put off by stiff suspensions, firm seats and - perish the thought - not enough cupholders. The problem is further complicated because Americans generally are plumper and taller than Western Europeans, and they're used to driving fatter and longer cars. It's a dilemma faced by nearly all automakers as they try to hold down development costs by tailoring cars to sell around the globe. But at no company is the problem...

NEW YORK (CNNMoney.com) -- The situation at recently rescued Chrysler Group is even more dire than first thought, the CEO of Italy's Fiat -- which came to the aid of the U.S. automaker -- said Wednesday. "We were surprised by how little had been done in the past 24 months," Sergio Marchionne told reporters in Frankfurt, Germany. Chrysler will present a revised business plan in November, Marchionne told reporters.

NEW YORK — Chrysler Group LLC is planning to build the Fiat 500 small car at a plant in Mexico, according to a report published Monday. The automaker could also build an engine for the 500 at a plant in Trenton, Michigan, and is weighing building another compact car similar to the 500 in the U.S., according to The Wall Street Journal, which cited anonymous sources familiar with the matter. Chrysler spokesman Gualberto Ranieri declined to comment Monday.

Chrysler Group is planning to produce Fiat SpA's (FIA.MI) Fiat 500 subcompact at a Chrysler plant in Mexico, the Wall Street Journal reported, citing people familiar with the matter. Chrysler is also considering what other Fiat models to introduce to the U.S. market, under directions from its Italian partner, the paper reported on its website on Sunday. Plans also include making a small Fiat engine for the 500 at a Chrysler plant in Trenton, Michigan, and building a Fiat-derived compact car slightly larger than the 500 in the United States, a source told the paper. The Toluca, Mexico plant, which...

If you stand in the way of President Barack Obama's agenda, beware because there may be a litany of consequences that could result from your act - regardless if the obstacle is legitimate or not. On June 8, Supreme Court Justice Ruth Bader Ginsburg issued a stay to review an appeal by a trio of Indiana pension and construction funds that own a part of Chrysler's secured debt. They claimed the administration's handling of the deal that would have sold Chrysler's assets to Italian automaker Fiat (BIT:F) arbitrarily threw 150 years of bankruptcy law out without process of law. The...

Chrysler's Saviors   [Stephen Spruiell] Government negotiators completed the sale of Chrysler to Fiat this morning. The New York Times reports: A two-page order from the Supreme Court made it clear that it was not ruling on the merits of the Indiana funds’ case. But the justices wrote that the funds, which represent teachers and police officers, “have not carried the burden� of proving that the Supreme Court needed to intervene. It's impossible to determine from the Supremes' two-page order why they rejected the Indiana funds' request for a stay. Ironically, the conservative Justices' views on the matter of standing...

Hey Detroit! Get ready for your new Italian overlords. Read So much for the valiant Indiana pension fund, bravely standing up for its shareholders against the UAW-Chrysler-Fiat-White House-TARP banks juggernaut. Alas, this is the end of the road. The Supreme Court, after putting a surprise block on the deal last night, has given it a go. WSJ: The high court pulled back from the issue after granting itself additional time to consider appeals filed by several Indiana pension funds and a coalition of consumer groups. The bulk of Chrysler's assets can now be transferred to Fiat, which is set to...

The Obama administration has been racing to complete a deal with Fiat SpA purchasing Chrysler, and blowing thru bankruptcy court at breakneck speeds. On May 2nd, I posted the Chicago style strong arm tactics used on some of the secured investors, represented by Bankruptcy Attorney, Tom Lauria of White & Case. Two days later, I was pondering the possibility of political blackmail... and then, 24 hours later, the client being strong armed silenced Lauria in the press.All seemed to flow along without major headlines until, late last week, Judge Arthur Gonzalez approved the sale of most of Chrysler's assets to...

Breaking on CNBC: USSC delays Chyrsler asset sale! Mourdock: USe of Tarp Funds in automotive industry was illegal Obama admin had urged USSC NOT to keep chrysler deal on hold

A clutch of investors in Chrysler have made a last-ditch effort to block an alliance between the troubled carmaker and Fiat. An appeals court on Friday approved the sale of most of Chrysler’s assets to Fiat, the US and Canadian governments and a United Auto Workers healthcare trust. However, the court put a temporary halt on the sale until 4pm on Sunday to allow three Indiana pension funds to file an emergency appeal to the US Supreme Court. The application for a Supreme Court referral has little chance of success, partly because no other buyer has emerged for the ailing...

Opponents of Chrysler's sale to Fiat are asking the Supreme Court to block the deal. Three Indiana state pension and construction funds filed emergency papers at the high court early Sunday to put the sale on hold so they can pursue an appeal.

Only link can be posted. Isn't Ginsburg the Justice who believes SCOTUS should refer to international law? Chrysler Creditors Ask U.S. Justice to Stop Fiat Sale (Update1)

Even if they ultimately lose their last-minute court battle, the Indiana pension funds defending their rights as secured first-lien creditors of Chrysler have done a valuable deed. We have learned, among many other things, how at least one government lawyer characterized the funds' lawyer, Thomas Lauria. A $10,000 Democratic Party donor, Lauria, despite clear evidence of intimidation of his originally larger pool of clients by Barack Obama himself (in his April 30 speech announcing the company's bankruptcy filing) and his car guys, has nonetheless bravely pursued the important contract law and fiduciary duty issues involved in the shortchanging of his...

INDIANAPOLIS -- The Indiana treasurer's petition for a stay in the bankruptcy sale of Chrysler to Fiat has been granted. The U.S. Court of Appeals in New York has agreed to hear legal arguments on behalf of the Indiana State Police Pension Fund, Indiana Teacher's Retirement Fund and the Major Moves construction fund. The court will begin hearing arguments in the case on Friday, when Chrysler's sale had originally been set. "We are pleased the Court of Appeals has agreed to hear our arguments," said Treasurer Richard Mourdock, in a statement released early Wednesday morning. "Indiana retirees and Indiana taxpayers...

Paul Sheridan is former head of Chrysler's Minivan Safety Leadership Team and winner of the 2005 Civil Justice Foundation National Champion award for his work in transportation safety. He has reviewed the Obama administration's Chrysler bailout plan and notes that it strips away the rights of some people to receive compensation for safety defects in Chrysler products: The president had declared that Chrysler vehicle owners could rely on the government to back repairs covered under warranty. If your transmission fails, he will stand with you. However, if your spouse burned to death due to a fuel system defect, and you...

German politicians entrusted with the fate of General Motors' Opel business need to show their mettle and set politics aside. The European autos market must shed capacity to preserve Opel's long-term viability in manufacturing mass-market cars. Based on the limited available details on the proposed bids for GM's European subsidiary, Fiat's proposed merger best ensures this path. Though that may mean more job cuts, legislators should support it. Angela Merkel, the German premier, is in a tight spot. The US government deadline for GM to restructure or enter bankruptcy is June 1. Germany must decide before then whether to leave...

Italian carmaker Fiat SpA (FIA.MI) said in court papers on Friday that it is "already concerned" about the "deteriorating value" of Chrysler's assets and that a U.S. district court should not obstruct its sale process. Chrysler, its creditors' committee, and Fiat filed a series of court documents on Friday, asking the U.S. District Court in Manhattan to reject a request by a group of Indiana state pension funds that the district court intervene in the bankruptcy case and postpone the sale of Chrysler's assets.

It's official--Chrysler has filed for Chapter 11 bankruptcy protection. Now the long task of sorting out the good from the bad at the storied automaker, with the added task of joining hand in hand with Italy's Fiat Group to build a new Chrysler with a new range of small cars. You might have questions about shopping for a new Chrysler today, and those are easy to answer. Yes, you're safe to buy--the government says it's going to back your warranty. Yes, Chrysler will be here in its current form for a while; Chapter 11 doesn't mean it will be going...

WHIO Local News Chrysler and Fiat to "Fire" Dealers Under New Bankruptcy Plan DETROIT, Mich. - The United States' third-largest auto-maker announced Thursday that it will be telling some of its dealerships the same thing Donald Trump tells his apprentices: "You're fired." American auto manufacturer Chrysler says it will cut 800 of its 3,200 dealerships and renegotiate deals with the remaining 2,400 as part of its bankruptcy plan. The names of the "fired" dealerships are expected to be released on Thursday. Pierre Bergeron is an attorney in the Cincinnati office of Squires Sanders, a law firm that is seeking to...

Something bad and dangerous is happening in Barack Obama's America. The powers that the Obama administration claimed in order to arrest the financial crisis and mitigate the recession are being used and abused in ways that are underming the legal and financial stability of the United States. Investors: You are warned. The first warning was the attempt to snatch Chrysler's assets away from their rightful owners to pay off administration friends and supporters. The Obama plan to save Chrysler would have sold Chrysler's most valuable assets into a new company co-owned by the U. S. and Canadian governments, Fiat and...

> But even in Marchionne's world, the Germans are still the mechanics. His chief technology officer is Harald Wester, who came from Volkswagen. "Everything behind the product — engineering, manufacturing and quality — is managed by leaders who have been trained for the most part by our German competitors. They have the right level of discipline and rigor to properly run the hard factors in this industry," Marchionne told Automotive News Europe in a 2005 interview. > "Our little tin-plated sweetheart arrives in the land of the steel Cyclops to save them from their folly," marveled La Repubblica's U.S. correspondent,...

..... Now, the real question is, how will working with Fiat affect quality? Fiat reliability For those Americans who recall when Fiat cars were sold here, the brand made a less-than-stellar impression. Looking back at Consumer Reports reliability ratings from the late 1970s, Fiat models typically had more dreaded solid black blobs than most car shoppers would prefer. In particular, the Fiat 128 and 131 received a worse overall reliability rating for several years. Back then, Fiat was sometimes referred to as “Fix It Again, Tony.” A lot can happen in 30 years, but don’t get your hopes up. For...

Chrysler is currently in bankruptcy court. Why? Well to hear the administration tell it, it was because some money-grubbing hedge fund put all the other investors as risk by refusing to go along with the solution the government proposed. And now that the whole mess has been forced into bankruptcy court, the terms may have to be changed, because unequal treatment of specific parties or investors is not permitted under bankruptcy law. So who was getting unequal treatment? Who was trying to skim the cream off of the top of the deal? Why the Obama Administration's major contributor the UAW,...

Fiat is in talks to create a European car giant that would merge General Motors' European operations with its newly-acquired stake in Chrysler to form a new publicly-listed car group The car supergroup, which would have annual revenues of around €80bn (£71bn), would bring GM Europe's UK Vauxhall brand, its German Opel business and Sweden's Saab under the Fiat umbrella as well as the new marques acquired through its interests in Chrysler. In a statement last night, Fiat said the board had "expressed its full support for the initiative to be undertaken over the next few weeks by its chief...

Sergio Marchionne, Fiat chief executive, is on Monday due to outline plans to transform the global automotive landscape by spinning off Fiat’s core cars division, joining it with Chrysler and General Motors Europe, and creating a new publicly traded European car company.Mr Marchionne wants Italy’s largest industrial group to separate Fiat Auto from its other divisions, join them with Opel / Vauxhall, Saab, and GM’s other European operations, and Fiat’s stake in Chrysler to create a company with about €80bn ($106bn) of revenues and sales of 6m-7m vehicles a year – second to Toyota, more than Renault / Nissan or...

DETROIT — Chrysler LLC cleared another major obstacle to its survival Sunday when it reached a tentative deal for concessions with the United Auto Workers union. The troubled automaker is just days from a Thursday U.S. government deadline to gain concessions from its unions and debtholders and form an alliance with Italy's Fiat Group SpA or face almost certain liquidation. The UAW announced the deal in a news release Sunday night, calling the concessions painful but saying the deal takes advantage of the Obama administration giving Chrysler and its workers a second chance.

U.A.W., Chrysler and Fiat Reach Concession Deal By THE ASSOCIATED PRESS April 26, 2009 DETROIT (AP) -- The United Auto Workers union says it has reached a concession agreement with Chrysler, Fiat and the U.S. government. The union says the deal is painful but takes advantage of the second chance the company was given by the Treasury Department. The government rejected Chrysler's viability plan in February and said it could not stand on its own. The union deal means the company has cleared another major hurdle as it races toward a Thursday deadline to restructure and sign an alliance with...

Fiat CEO: Concessions or no Chrysler deal ‘Absolutely we are prepared to walk,’ Italian automaker’s chief says MILAN - With just 15 days left before the U.S. government pulls the plug on Chrysler, the only man who appears able to save the struggling automaker is casting doubt on whether a deal can be worked out. Fiat CEO Sergio Marchionne, in an interview published Wednesday, said the Italian automaker will walk away from a nonbinding agreement to take a 20 percent stake in Chrysler and share its small car technology unless the U.S. automaker’s unions agree to major cost cuts. A...

Fiat puts the unions willingness to deal in the face of disaster to the test Fiat is playing a hardball game of “Deal or No Deal” with the United Auto Workers union, which has been resisting proposed cuts in benefits and pay that would come as part of a government-suggested merger with Chrysler. The roots of the current talks began months ago, when Chrysler granted a 35 percent equity stake to Fiat SpA in exchange for help preparing its bailout plan. Then President Obama rejected the plan and called for Fiat and Chrysler to fully merge. Obama's auto task force...

MILAN – Automaker Fiat Group SpA will walk away from a deal to take a 20-percent stake in Chrysler LLC if the U.S. automaker's unions don't agree to major cost cuts, Fiat CEO Sergio Marchionne said in an interview published Wednesday. Fiat and Chrysler are up against an April 30 deadline for Fiat to take a stake in the failing U.S. automaker in exchange for small car technology, but Chrysler first needs concessions from creditors and unions to ink the Fiat deal. The Canadian Auto Workers union is scheduled to resume negotiations with Chrysler on Monday after a two-week hiatus,...

Fiat would walk away from a tie-up with US carmaker Chrysler unless unions agreed to a new, lower wage deal, Sergio Marchionne, the chief executive of the Italian motor manufacturer, said. In an interview with Canada's Globe and Mail newspaper, Mr Marchionne said he would scrap the deal unless Chrysler unions agreed to match the lower costs of Japanese and German-owned plants in Canada and the US. "Absolutely we are prepared to walk. There is no doubt in my mind," Mr Marchionne said in comments published online. "We cannot commit to this organisation unless we see light at the end...

At the New York auto show, Chrysler gathered reporters this morning for an unveiling of the redesigned Jeep Grand Cherokee, but Vice Chairman Jim Press arrived on stage in a different vehicle — a Fiat 500. Rather than get right to the highlights of the new Grand Cherokee, Press talked for several minutes about Chrysler’s proposed alliance with Fiat. Press cautioned that company was only promoting the deal with Fiat - not announcing the consummation of one (a nod to a recent communications gaffe by Chrysler: it issued a statement recently saying it had a deal with Fiat and then...

Fiat boss Sergio Marchionne headed for Detroit Tuesday hoping to seal an alliance with Chrysler and buoyed by a burst of national pride over the Italian icon's role as possible saviour for the failing US auto giant. "It's the first time in a long time that Italy, seen as being in decline like the rest of Europe ... is being talked about in the United States in a positive light," said leading daily Corriere della Sera under the headline "Italy's Chance." Marchionne will "probably" also have talks with the US government in Washington, a Fiat spokesman told AFP. The US...

Unbelievable. That just about sums up the feeling my family and I have right now. The U.S government dangles money in front of two ailing car manufacturers and then makes demands. It reminds me of that kid on the playground who says "Here, you can have this.....but first you have to eat mud". I'm sure you all have read the general story. If not, basically, Obama forcedObama Cracks Whip on GM, Force Breeds Chrysler/Fiat Rick Wagoner, former GM CEO, out of office. He is also forcing Chrysler to partner with Italian automaker, Fiat, or the 'administration will walk away'. In...

Responding to their plea for $21.6 billion more in taxpayer cash, President Obama yesterday declared "the end of that road" for GM and Chrysler. In the next breath, he seemed to put Washington and Detroit on a new road of politicized industrial policy. So pick your poison. The Administration can be commended for at least promising some tougher medicine. Chrysler got a 30-day ultimatum to sell itself to Italy's Fiat. Having written a $4 billion check to Chrysler in December, taxpayers will still be on the hook for another $6 billion if the deal comes off. On cue yesterday, the...

"We are pleased that Chrysler, Fiat and Cerberus have reached agreement on a global alliance, supported by the U.S. Treasury,"

Some Chrysler workers were critical Monday of President Barack Obama's rejection of automaker turnaround plans and looked to a proposed Chrysler partnership with Italy's Fiat SpA as their company's last chance to survive the industry downturn. "Right now it looks like our only hope," 37-year-old lineman Douglas Kozak said at the Warren Truck Assembly plant. "You've got to expect the worst and hope for the best." The White House says Auburn Hills-based Chrysler and Detroit-based General Motors have not submitted acceptable restructuring plans. GM chairman Rick Wagoner was forced out Sunday, and Obama said the companies must do more to...

In a fiat world, money is printed into existence by the central bank - in the United States the Fed. Given there is nothing backing up this money, it is inherently worthless. However, one can think of as real. It was printed (even if only electronically), therefore it exists. In addition to the previously mentioned money supply, fractional reserve lending allows credit to be extended by banks and financial institutions on top of that inherently worthless money. Indeed, banks and financial institutions have leveraged credit to base money at ratios of 30-1, 50-1 or even higher. It's pretty amazing if...

Peru is the nineteenth largest country in the world and is a diverse land, both in terms of people and geography. It is populated by over 29.2 million people (July 2008 estimate), largely descended from Spanish settlers, native Inca, and pre-Inca cultures. Peru has three national languages: Spanish, Aymara, and the native Quechua, reflecting the native Indian and Spanish roots that cultivated modern Peruvian society. Three distinct geographical terrains - coastal, sierra and tropical rain forest - give Peru a wide variety of both climatic and natural variation. Traditionally the Peruvian economy was based on natural resources such as mining,...

Oink, oink, oink. Here comes failed automaker Chrysler again, demanding more of your money to save their a**es — while they turn around and dump cash into a movie-making venture. They’ve got $4 billion in federal bailout money and are asking for another $3 billion to seal a deal with Italian car manufacturer, Fiat. Chutzpah: Chrysler’s got $4 billion in emergency aid from the U.S. government and has said it will seek another $3 billion in government loans. And yesterday it agreed to form an alliance with Italy’s Fiat as it looks for the road out of the woods. (The...

Chrysler LLC has found an international partner in Fiat SpA but the auto maker isn't out of the woods, mainly because the deal is contingent on Chrysler getting $3 billion in additional government loans, said people familiar with the pact. On Tuesday, Chrysler and Italy's Fiat confirmed they had reached an agreement on an alliance that would give Fiat a 35% stake in the American company. Fiat would not put any cash into Chrysler but would provide technology and vehicles that Chrysler could build and sell in the U.S. View Slideshow [SB123249355331300011|section=Life Style|subsection=Autos] Fiat The Panda could be one of...

Fiat and Chrysler said Tuesday they have agreed to form a strategic alliance that would give the Italian auto empire a 35-percent stake in the troubled U.S. carmaker and could eventually bring it full control. The deal means Chrysler, which is fighting off bankruptcy and struggling to sell less fuel efficient larger models, would have access to new markets and cheaper, more environmentally friendly technologies. Fiat Group SpA, which makes Fiat, Lancia and Alfa Romeo vehicles, would gain a foothold in the huge U.S. market. The company has bounced back recently with cars such as the tiny 500 two-door hatchback,...

ROME (AP) -- Fiat and Chrysler said Tuesday they have signed a nonbinding agreement for a strategic alliance that would give the Italian auto empire a 35-percent stake in the troubled U.S. carmaker. The two companies said in a joint statement they would share technologies and vehicle platforms. Under the proposed alliance, Fiat would not invest cash in Chrysler but would provide access to its successful small-car platforms, as well as to its more environmentally friendly and fuel-efficient engines. The statement said Fiat would take an "initial" 35-percent stake, suggesting the deal may be broadened. It stressed that under the...

Italian car maker Fiat is reportedly taking a 35% stake in Chrysler LLC, according to the Wall Street Journal, citing people familiar to the matter. The partnership could help both struggling auto makers survive the economic downturn and slowdown in consumer spending by saving the companies $3 billion to $4 billion, the Journal also reported. The deal could be announced as early as Tuesday. The Journal reported Fiat is likely to take a 35% stake in the recently-bailed out company by mid 2009 and have the option of taking as much as a 55% stake over time. Chrysler's owner, private...

WOW!!!!! THIS IS FOR REAL!!! A STATE SENATOR WITH GUTS IS ACTUALLY TAKING CHARGE OF MAKING A HISTORICAL DIFFERENCE!!!! READ BELOW AND DIGG IT!!!! http://digg.com/politics/... FOR IMMEDIATE RELEASE January 14, 2009 Indiana State Senator Files Gold Money Bill Senate Bill 453, The Indiana Honest Money Act Indiana Picks Up Where New Hampshire Left Off ! Indianapolis, Indiana -- State Senator Greg Walker of District 41, (R-Columbus), has officially filed a Bill that would allow Indiana to offer its citizens a choice of Gold (and Silver) coin or the Electronic equivalent in payable and receivable transactions with the state. This bold...

Ty Andros, Tedbits The greatest transfer of wealth from those that store their wealth in paper to those that don't is unfolding. ALL markets will have to price in the reality that the G7 in general and the financial and banking industries in particular (there are exceptions to this) are INSOLVENT. Rather than default through the normal process they will default through the printing press. Ted Butler, Investment Rarities This week I received an e-mail from a Swiss money manager, a friend and trusted source. He informed me that a very large and conservative Swiss bank had informed a number...

Money is a crucial command post of any economy, and therefore of any society. Society rests upon a network of voluntary exchanges, also known as the "free-market economy"; these exchanges imply a division of labor in society, in which producers of eggs, nails, horses, lumber, and immaterial services such as teaching, medical care, and concerts, exchange their goods for the goods of others. At each step of the way, every participant in exchange benefits immeasurably, for if everyone were forced to be self-sufficient, those few who managed to survive would be reduced to a pitiful standard of living. Direct exchange...

CARACAS, Venezuela (AP) -- President Hugo Chavez is aiming to set up neighborhood-based militias, move toward a socialist economy in Venezuela and increase state control over agriculture under a package of laws enacted by presidential decree. Changes in areas from the military to small business loans were pushed through by the president in 26 laws released Monday in the official gazette.