Chrysler files for Chapter 11
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From: SeVa
--->edit<---
I think there might be a better way to go about it (would hate to see my retirement disappear under your hope against hope)
Last edited by bossco; May 1, 2009 at 11:55 AM.
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Joined: Feb 2005
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From: Columbia, SC
Some of my answers are coming in slowly but here is almost 5000 jobs... gone.
http://money.cnn.com/2009/05/01/news...ion=2009050112
Now as a disclaimer the article says they didnt "announce" job cuts, as they *could* transfer jobs to fiat manufacturing once they are ready to produce them. SO idk.. i dont think its likely to work that well or fast.
http://money.cnn.com/2009/05/01/news...ion=2009050112
The plants on the chopping block are the Sterling Heights, Mich., assembly plant that makes the Chrysler Sebring and Dodge Avenger; the St. Louis North assembly plant that builds the Dodge Ram pickup; the Twinsburg, Ohio stamping plant and an engine plant in Kenosha, Wisc.
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From: FL/MI
Pardon the typo. I hope the economy will NOT tank.
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From: All around
Save some American jobs, get some possibly cool little efficient "green" cars for sale in the US? Sounds like a good idea worth a little investigating.
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From: FL/MI
I'm going to make a guess that someone has asked that question already. I think the Fed might be even more encouraging of the partnership if it means getting Fiat to produce cars here in chrysler's plants without shutting them down or idling them too long. Sounds like a good idea to me, if it is at all possible.
Save some American jobs, get some possibly cool little efficient "green" cars for sale in the US? Sounds like a good idea worth a little investigating.
Save some American jobs, get some possibly cool little efficient "green" cars for sale in the US? Sounds like a good idea worth a little investigating.
FIAT has horrible resale value in Europe, at least the last time I looked it did.
They need to step the quality up a notch or two. Chrysler and FIAT.
I would assume FIAT has ditched the idea of Mexico as a point of assembly. At least, one would hope that's been handled. I can't see a UAW owned company going for a NAFTA region North American build.
They need to get gas prices a lot higher as well to hit 100k plus, unless young folks get all excited about the 500 as a cultural statement.
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From: Roseville, MI, USA
A few notes:
Fiat can increase it's 20% share to 35% by building a small car capable fo 40mpg, in the United States. They must also build an engine line in the United States as well.
Fiat will certainly create jobs in the U.S. Take that back. There won't be any job creation, it will be job preservation.
The Sterling Plant, Conner plant and others listed are CLOSING. There will be no future investment by Fiat in to these plants.
The closing of the Conner plant all but guarantees the Dodge Viper is done in 2010. It's 99% likely the Viper is gone. The last 1% is if somebody buys it, which is just 1%.
Chrysler approached EVERY major automaker since 2008 in an attempt to secure partnerships. GM, Ford, Honda, Toyota and the Chinese. All said "thanks but no thanks." Fiat was literally the only automaker that wanted anything to do with Chrysler - and they are getting paid $10 Billion to take them. Fiats not paying a cent for Chrysler.
And one other thing thats very interesting. Chryslers Canadian and Mexico operations are not bankrupt. Just Chrysler U.S.
Fiat can increase it's 20% share to 35% by building a small car capable fo 40mpg, in the United States. They must also build an engine line in the United States as well.
Fiat will certainly create jobs in the U.S. Take that back. There won't be any job creation, it will be job preservation.
The Sterling Plant, Conner plant and others listed are CLOSING. There will be no future investment by Fiat in to these plants.
The closing of the Conner plant all but guarantees the Dodge Viper is done in 2010. It's 99% likely the Viper is gone. The last 1% is if somebody buys it, which is just 1%.
Chrysler approached EVERY major automaker since 2008 in an attempt to secure partnerships. GM, Ford, Honda, Toyota and the Chinese. All said "thanks but no thanks." Fiat was literally the only automaker that wanted anything to do with Chrysler - and they are getting paid $10 Billion to take them. Fiats not paying a cent for Chrysler.
And one other thing thats very interesting. Chryslers Canadian and Mexico operations are not bankrupt. Just Chrysler U.S.
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From: Sterling Heights, MI
Maybe Charlie is right, maybe we better get the pitchforks ready.
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From: Roseville, MI, USA
If true, THIS is the kind of ideology-driven stuff that chaps me. All Fiat needs to do is build a compact car here and they're handed more of Chrysler? Why on earth should building a specific type of product have anything to do with the amount of stake in the company they can accrue?
Maybe Charlie is right, maybe we better get the pitchforks ready.
Maybe Charlie is right, maybe we better get the pitchforks ready.
Fiat Can Increase Chrysler Ownership By Creating U.S. Jobs
Fiat will start with an initial equity stake of 20% in the new Chrysler company while the VEBA will account for 55%. Fiat can increase its ownership stake by creating jobs in the United States. The press release says:
Fiat will have the right to increase its ownership stake an additional 15 percent in three increments as it meets the following criteria: 5 percent for bringing a 40 mpg vehicle platform to Chrysler to be produced in the U.S.; 5 percent for providing a fuel-efficient engine family to be produced in the U.S. for use in Chrysler vehicles; and 5 percent for providing Chrysler access to its vast global distribution network to facilitate the export of Chrysler vehicles.
Fiat will start with an initial equity stake of 20% in the new Chrysler company while the VEBA will account for 55%. Fiat can increase its ownership stake by creating jobs in the United States. The press release says:
Fiat will have the right to increase its ownership stake an additional 15 percent in three increments as it meets the following criteria: 5 percent for bringing a 40 mpg vehicle platform to Chrysler to be produced in the U.S.; 5 percent for providing a fuel-efficient engine family to be produced in the U.S. for use in Chrysler vehicles; and 5 percent for providing Chrysler access to its vast global distribution network to facilitate the export of Chrysler vehicles.
I was like fastdog is hardcore!
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So...if gas stays low, Chrysler is stuck building 40mpg Euro chitboxes no one will want. Because everyone knows it's the Yaris that pays the bills at Toyota
The problem is Chrysler because so reliant on Mercedes for engineering it no longer can efficiantly design it's own platforms. Problem is, I really do not think Fiat builds anything most American consumers want. It's a shame to see an American company given away basically.
I am almost starting to wonder if the GM/Chrysler merger discussed back in the day would have been better. I mean now so many jobs have been lost, and so much money spent..the plan discussed then would have been on par or cheaper.
The problem is Chrysler because so reliant on Mercedes for engineering it no longer can efficiantly design it's own platforms. Problem is, I really do not think Fiat builds anything most American consumers want. It's a shame to see an American company given away basically.
I am almost starting to wonder if the GM/Chrysler merger discussed back in the day would have been better. I mean now so many jobs have been lost, and so much money spent..the plan discussed then would have been on par or cheaper.
