مضــارب أسـهم
عضو مميز
Chrysler reaches labor deals in fight for survival
Chrysler reaches deals with UAW, CAW labor unions, now needs debtholder agreement to survive
Tom Krisher, AP Auto Writer
On Monday April 27, 2009, 6:14 am EDT
Buzz up! Print Related:General Motors Corporation
DETROIT (AP) -- It looks like scrappy little Chrysler LLC might yet escape the auctioneer's gavel.
Related Quotes
Symbol Price Change
GM 1.69 0.00
{"s" : "gm","k" : "c10,l10,p20,t10","o" : "","j" : ""} The smallest U.S.-based automaker cleared two major hurdles on Sunday in its quest for survival, reaching a concession agreement with the United Auto Workers and winning ratification of its cost-cutting deal with the Canadian Auto Workers.
That leaves only 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. Chrysler has four plants and thousands of employees in Ohio.
Details of the UAW deal weren't disclosed, but the union said it was crafted together with Chrysler, Fiat Group SpA and the U.S. government. That means the cost cuts have been blessed by the Treasury Department, which has been overseeing efforts to restructure Chrysler and its Detroit counterpart, General Motors Corp.
It also means Fiat was heavily involved in negotiations, a sign that the Italian automaker is serious about taking a 20 percent stake in Chrysler in exchange for providing the Auburn Hills, Mich., company with small-car technology.
Chrysler reaches deals with UAW, CAW labor unions, now needs debtholder agreement to survive
Tom Krisher, AP Auto Writer
On Monday April 27, 2009, 6:14 am EDT
Buzz up! Print Related:General Motors Corporation
DETROIT (AP) -- It looks like scrappy little Chrysler LLC might yet escape the auctioneer's gavel.
Related Quotes
Symbol Price Change
GM 1.69 0.00
{"s" : "gm","k" : "c10,l10,p20,t10","o" : "","j" : ""} The smallest U.S.-based automaker cleared two major hurdles on Sunday in its quest for survival, reaching a concession agreement with the United Auto Workers and winning ratification of its cost-cutting deal with the Canadian Auto Workers.
That leaves only 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. Chrysler has four plants and thousands of employees in Ohio.
Details of the UAW deal weren't disclosed, but the union said it was crafted together with Chrysler, Fiat Group SpA and the U.S. government. That means the cost cuts have been blessed by the Treasury Department, which has been overseeing efforts to restructure Chrysler and its Detroit counterpart, General Motors Corp.
It also means Fiat was heavily involved in negotiations, a sign that the Italian automaker is serious about taking a 20 percent stake in Chrysler in exchange for providing the Auburn Hills, Mich., company with small-car technology.