Tag Archives: chrysler fiat

Detroit Lobbyist John Bozzella Joins Offshore Auto Trade Group

Private equity firm Cerberus placed a large bet during Bozella’s Chrysler tenure by buying controlling interest in Chrysler from Daimler. Prior to that, it bought 51% ownership of GMAC, the financing arm of General Motors. These bets ultimately failed when Chrysler entered bankruptcy in 2009. Both GMAC and GM went into bankruptcy as well. Continue reading

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Chrysler IPO Filing this Week

The UAW says the stock is worth $10.3 billion; Fiat says it is worth $4.2 billion. Fiat, of course, saved Chrysler from oblivion in 2009 as part of a controversial U.S. Treasury financed bankruptcy proceeding that essentially handed over Chrysler to Fiat for Fiat’s promise to save UAW jobs and reinvest in the company, but no cash. Continue reading

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Revised Fiat Management Structure Subsumes Chrysler. Fiat Executives Dominate Newly Formed Group Executive Council

Both the management of Fiat Automobiles and Chrysler will be merged on September 1 under a plan that creates a Group Executive Council dominated by Fiat executives. Continue reading

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Chrysler Group November 2010 U.S. Sales Up 17%

Chrysler Group today reported U.S. sales of 74,152, a 17% increase compared with sales in November 2009 (63,560 units). Year-to-date the Group is at 984,509 units, of which 714,566 are trucks. November represents the eighth consecutive month of year-over-year sales … Continue reading

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