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Fiat/Chrysler allowed to merge
Houston News.Net Wednesday 10th June, 2009
The sale of American auto giant Chrysler to Italian auto company Fiat, has been passed by the US courts, despite objections from Chrysler investor groups that said the sale might put investors at risk.
Chrysler had argued that if its sale to Fiat did not go through by a June 15th deadline the deal could collapse.
The number-three US automaker said it could not survive unless Fiat contributed to keep the company afloat.
It also said it would need to close about 25 percent of its dealerships to once again make the company viable. Email this story to a friend
Comments on this story
` ~galljdaj+ 06-10-09, 11:07 AM |
Fiat/Chrysler allowed to merge
The messianic readers may believe your
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waltky 06-15-09, 09:50 PM |
They gonna have to do more than just high end sports cars...
:rolleyes:
Chrysler restarts with the Viper
June 15, 2009: The factory that makes the Dodge Viper sports car is the first to reopen after bankruptcy.
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Chrysler will soon be making cars again. Chrysler Group announced Monday that it is restarting a factory, after shutting down all of its manufacturing for nearly seven weeks following the bankruptcy of Chrysler LLC. Chrysler Group is the new company that emerged last week with most of Chrysler’s assets and a new ownership structure. The first plant to reopen is the one that makes the Dodge Viper sports car.
The Viper has a 600 horsepower V-10 engine and a price tag that starts at about $90,000. The Viper was introduced in the 1999 model year, and only 25,000 have been sold since then. The Conner Avenue Assembly Plant in Detroit that makes the car employs 115 people. Chrysler LLC had announced last year that it intended to sell off the Viper brand. The high-performance, 10-cylinder sports car sells in low numbers. Ultimately, Chrysler said it had not received any bids that met its requirements. Chrysler’s other plants remain idle.
“At this time, we cannot give exact timing in regards to the start of production at our other manufacturing facilities," Chrysler Group said in a statement. The Viper brand and the plant that makes the car, the Conner Avenue assembly plant in Detroit, were taken over by the “new” Chrysler that emerged last week from bankruptcy. The Chrysler Group is owned by a combination of the Italian automaker Fiat, the United States government, the United Auto Workers union’s retiree trust and the Canadian and Ontario governments.
[url=http://money.cnn.com/2009/06/15/autos/chrysler_viper_restart/index.htm?section=money_mostpopular: Source[/url]
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