Wednesday, April 15, 2009
Retiree pensions are at risk
Fed insurer fears auto failures
David Shepardson / Detroit News Washington Bureau
Washington — General Motors Corp. and Chrysler LLC retirees and employees could lose $23 billion in pension benefits if the companies terminate their retirement plans in bankruptcy, the government’s pension insurance agency warned Tuesday.
Neither GM nor Chrysler plans [...]
Obama holds out ‘fervent hope’ for Chrysler and GM
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Automotive News | April 14, 2009 – 3:31 pm EST
NEW YORK (Reuters) — U.S. President Barack Obama offered a "fervent hope" for Chrysler LLC and General Motors’ survival today as GM bondholders said completing the automaker’s restructuring outside bankruptcy has become increasingly less likely.
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Fiat says it could abandon Chrysler due to unions
Marchionne says Fiat won’t ask for extension
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Luca Ciferri
Automotive News | April 15, 2009 – 2:59 am EST
TURIN, Italy — Fiat S.p.A. CEO Sergio Marchionne said he is ready to abandon plans to form a partnership with Chrysler LLC unless the U.S. carmaker’s unions accept substantial labor [...]
Investor group wants to buy Saturn, sell overseas brands
GM says proposal is ‘very interesting’
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Jamie LaReau
Automotive News | April 15, 2009 – 1:54 pm EST
DETROIT — An investor group called Telesto Ventures says it wants to acquire Saturn’s retail operations and provide dealers with vehicles from General Motors through 2011 and mostly overseas manufacturers thereafter.
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