Some good news for Chrysler....

[CitySnake]

Chrysler gets labor deals in fight for survival


DETROIT – It looks like scrappy Chrysler LLC might yet escape the auctioneer's gavel. The smallest of the three major U.S.-based automakers cleared two major hurdles on Sunday in its quest for survival, agreeing on a concession agreement with negotiators for the United Auto Workers and winning ratification of its cost-cutting deal with the Canadian Auto Workers.
That leaves two obstacles standing between Chrysler and up to $6 billion in additional loans from the U.S. government: A partnership deal with Italy's Fiat Group SpA and an agreement to swap equity for debt with banks and hedge funds that hold $6.9 billion in secured Chrysler loans.

Link to full article:
Chrysler gets labor deals in fight for survival

 

[Lawrenzo]

They still have to sell many more cars to survive longterm though. They better have some strong designs in the works to pull traffic into their dealerships, or all the bailout $ will be for naught.

 

[GTS Bruce]

If I were a debt holder I would want my money. The pieces of the company are worth more than the operating company. If it survies and merges trucks,jeep,and minivan survive. All cars are DOA and will be rebadged fiats sold as dodge. I can't imagine that fiat which owns ferrari and maserati would be interested in carrying Viper.But you never know....... GTS Bruce

 

[GR8_ASP]

Auf wiedersehen Daimler.

 

[George Farris]

Auf wiedersehen Daimler.

If that is NOT nice ... I agree 100%!!!

 

[GR8_ASP]

If that is NOT nice ... I agree 100%!!!

Now that the separation is formal the flood gates can start with commentary. Too bad I cannot swear here. Three things I no longer trust: Bankers, German businesses and bankers!

 

[RayC]

Now that the separation is formal the flood gates can start with commentary. Too bad I cannot swear here. Three things I no longer trust: Bankers, German businesses and bankers!

Ron how did politicians not make the list?

 

[George Farris]

Well, I think he means 4 things ....

 

[triplexotica]

If Fiat buys/owns Viper get ready for the "F"ix "I"t "A"gain "T"ony "VIPER"

I've never ever never ever ever trusted banks! Germans you gotta watch out for them especially of you don't speak GERMAN.

 

[GR8_ASP]

Ron how did polititions not make the list?

A momemtary loss of judgement. Alas, since every minute of every day recently has been with the feds I cannot seem to see the forest for the trees. Lots of trees!

Not a single day off in months and minimum 12 hours/day 7 days is getting OLD! Of course the extra income is, um, well a mirage. And to top it off I had 5 trees blown over today in a storm. Whoopee !

 

[GTSnake]

Daimler was the bug that rotted Chrysler from within. If it wasn't for Daimler, Chrysler would have been much healthier and better prepared for the downturn than it was. Daimler sucked the life out of Chrysler and basically left it to fend for itself with little resources. But a lot of the blame has to go with Bob Eaton as well. He sold the company out and got out of Dodge.... literally...