Cars
Unless you have been hiding under a rock for the past few weeks, you've probably heard about the ongoing merger talks between General Motors and Chrysler LLC. Today, a consulting firm from Michigan named Anderson Economic Group of East Lansing released an analysis concerning the various impacts of such a tie up. Not surprisingly, the report says that if GM goes ahead and acquires the Chrysler group, 25,000 to 35,000 people employed by the two automakers will lose their jobs."There is no scenario where GM and Chrysler avoid significant reductions in employment -- none," CEO Patrick Anderson said. -Continued
- Chrysler To Reopen Seven More Assembly Plants By End Of June
About a week after emerging from bankruptcy protection and finalizing a deal with the Fiat Group, Chrysler Group LLC confirmed today that in addition to the reopening of the Dodge Viper's Conner Avenue factory in Detroit on Monday, the firm plans...
- Chrysler Resumes Production With The Dodge Viper At Detroit Plant
Having emerged from bankruptcy protection on June 9, the newly formed Chrysler Group LLC restarted production at one of its Detroit assembly plants on Monday, June 15. The first factory to reopen after the company shut down for a period of almost two...
- Report: Chrysler In Talks With Hyundai And Renault-nissan
As soon as it became known that General Motors suspended its acquisition efforts of its equally financially troubled cross-town rival (click here for details), Reuters broke a news story saying that the Chrysler LLC owner Ceberus Capital Management has...
- Chrysler In Preliminary Merger Talks With Gm
According to separate reports in The New York Times and The Wall Street Journal, two of the most iconic and troubled.... names in the American industry, General Motors and Chrysler LLC, have been in preliminary talks the past month or so concerning a...
- Breaking News - Chrysler
Chrysler has been SOLD for $7.4 billion dollars. The seller keeps 20% of the business, leaving the door open for economies-of-scale benefits and some giving/sharing/taking opportunities between Benz and the Chrysler Group. The buyer is Cerberus Capital...
Cars
Report: GM-Chrysler Wedding May Cost 25,000 to 35,000 Jobs
Unless you have been hiding under a rock for the past few weeks, you've probably heard about the ongoing merger talks between General Motors and Chrysler LLC. Today, a consulting firm from Michigan named Anderson Economic Group of East Lansing released an analysis concerning the various impacts of such a tie up. Not surprisingly, the report says that if GM goes ahead and acquires the Chrysler group, 25,000 to 35,000 people employed by the two automakers will lose their jobs."There is no scenario where GM and Chrysler avoid significant reductions in employment -- none," CEO Patrick Anderson said. -Continued The analysis concludes that 10 assembly plants, of which three, are likely to be in Michigan will be forced to close. Michigan will be hit hardest losing anywhere between 18,000 to 25,000 white-and-blue-collar jobs over a one- to two-year period after the merger.
And to make matters worse, the Anderson Economic Group of Lansing said that the other alternative of Chrysler LLC being sold in pieces would cause even greater job cuts. "It's a much bigger job loss and a much bigger taxpayer hit if Chrysler simply goes out of business or is dismantled," CEO Anderson said. As a whole, the Chrysler group which owns the Chrysler, Dodge and Jeep brands employs around 49,000 people in the U.S. and supports about 125,000 retirees and their spouses.
- Chrysler To Reopen Seven More Assembly Plants By End Of June
About a week after emerging from bankruptcy protection and finalizing a deal with the Fiat Group, Chrysler Group LLC confirmed today that in addition to the reopening of the Dodge Viper's Conner Avenue factory in Detroit on Monday, the firm plans...
- Chrysler Resumes Production With The Dodge Viper At Detroit Plant
Having emerged from bankruptcy protection on June 9, the newly formed Chrysler Group LLC restarted production at one of its Detroit assembly plants on Monday, June 15. The first factory to reopen after the company shut down for a period of almost two...
- Report: Chrysler In Talks With Hyundai And Renault-nissan
As soon as it became known that General Motors suspended its acquisition efforts of its equally financially troubled cross-town rival (click here for details), Reuters broke a news story saying that the Chrysler LLC owner Ceberus Capital Management has...
- Chrysler In Preliminary Merger Talks With Gm
According to separate reports in The New York Times and The Wall Street Journal, two of the most iconic and troubled.... names in the American industry, General Motors and Chrysler LLC, have been in preliminary talks the past month or so concerning a...
- Breaking News - Chrysler
Chrysler has been SOLD for $7.4 billion dollars. The seller keeps 20% of the business, leaving the door open for economies-of-scale benefits and some giving/sharing/taking opportunities between Benz and the Chrysler Group. The buyer is Cerberus Capital...