The Obama administration urged the U.S. Supreme Court on Monday to allow the sale of bankrupt automaker Chrysler LLC to a group led by Italian carmaker Fiat SpA, saying that blocking the deal would have grave consequences.
The Obama administration urged the U.S. Supreme Court on Monday to allow the sale of bankrupt automaker Chrysler LLC to a group led by Italian carmaker Fiat SpA, saying that blocking the deal would have grave consequences.
The Obama administration urged the U.S. Supreme Court on Monday to allow the sale of bankrupt automaker Chrysler LLC to a group led by Italian carmaker Fiat SpA, saying that blocking the deal would have grave consequences.
Italian unions have not been invited to any meeting between Fiat SpA and the government to discuss the future of the Melfi plant in southern Italy, a union leader said on Monday.
The U.S. automobile industry had quite a party during the recent credit-infused economic boom, but the hangover could last for years to come.
Indiana pension funds and consumer groups asked the U.S. Supreme Court on Sunday to stop the sale of bankrupt automaker Chrysler LLC to a group led by Italian carmaker Fiat SpA while they challenge the deal.
Two senior Europe-based partners in U.S. private equity firm Cerberus, majority owner of carmaker Chrysler, have left the company, the Wall Street Journal reported, citing a person familiar with the company.
Indiana pension funds and consumer groups asked the U.S. Supreme Court on Sunday to stop the sale of bankrupt automaker Chrysler LLC to a group led by Italian carmaker Fiat SpA while they challenge the deal.
Indiana pension funds asked the Supreme Court on Sunday to immediately delay the sale of bankrupt automaker Chrysler LLC to a group led by Italian carmaker Fiat SpA while they challenge the deal.
Indiana pension funds asked the U.S. Supreme Court on Sunday to immediately delay the sale of bankrupt automaker Chrysler LLC to a group led by Italian carmaker Fiat SpA while they challenge the deal.
The pace of U.S. job losses slowed sharply last month, the strongest sign to date that the recession is diminishing, even as the unemployment rate hit its highest in nearly 26 years.
A U.S. federal appeals court on Friday will hear arguments that Chrysler LLC's sale to a group including Italian carmaker Fiat SpA and the U.S. government violates long-standing bankruptcy law and should not be allowed to go forward.
Chrysler will have little need for the hundreds of dealers it wants to close if it completes its sale to Fiat as expected, the judge overseeing the automaker's bankruptcy said on Thursday.
A growing team of Fiat SpA executives and engineers has been working at Chrysler's Detroit-area headquarters this week, finalizing plans to cut costs and ready the Fiat 500 small car for the U.S. market, people with knowledge of the work said.
Many of the 789 dealerships that Chrysler plans to close will begin presenting their case to bankruptcy court on Thursday, arguing that the automaker was undermining its turnaround by terminating the franchises.
Top executives of General Motors Corp and Chrysler LLC were pressed by angry U.S. senators on Wednesday to rethink plans to slash more than 2,300 dealerships as a key part of their restructuring.
Top executives of bankrupt General Motors Corp and Chrysler LLC defended slashing their dealer networks, telling Congress on Wednesday that eliminating more than 2,300 dealerships was crucial to saving the companies.
The chief executives of General Motors Corp and Chrysler LLC told Congress on Wednesday that slashing dealer networks were crucial for saving their companies.
General Motors Corp and Chrysler LLC, both bankrupt, will try on Wednesday to ease congressional concern, and in some cases anger, over their plans to slash more than 2,400 dealerships.
U.S. car sales fell again in May, dropping 34% to 925,824 vehicles, but showed some signs of stabilization as Ford, General Motors and Toyota reported their highest monthly totals this year.
A U.S. Court of Appeals agreed on Tuesday to hear a challenge to Chrysler LLC's sale of most of its assets to a group led by Italian automaker Fiat , in a move that could potentially delay the deal.
U.S. auto sales fell nearly 34 percent in May from a year earlier, but aggressive discounting helped steady results for the battered industry, according to monthly results released on Tuesday.
