Posts Tagged ‘Chrysler’
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Chrysler takes aim at two-tier wage system
Posted on November 2nd, 2011 by admin
p>By By Paul A. Eisenstein
Carlos Osorio / AP
The number of direct hours of labor in a typical Detroit product has been dropping steadily, to under 20 in some cases.
It took Detroit’s automakers decades to win a money-saving two-tier wage structure from the United Auto Workers Union. But that might be about to change at Chrysler.
The automaker’s CEO Sergio Marchionne now says he’d rather have all his workers on the same pay scale, hinting at big changes when the maker’s new contract expires in 2015.
That has plenty of folks in the auto industry scratching their heads and wondering what the executive — who also heads Chrysler’s Italian partner Fiat — has in mind.
What’s clear is that the UAW also wants to eliminate the two-tier structure, something that has divided the union and nearly led to the rejection of this year’s contracts with Chrysler, General Motors and Ford.
“This economic disparity between people on the (production) line is not something that can go on indefinitely,” Marchionne told reporters during a conference call to discuss the carmaker’s quarterly earnings.
Ironically, industry analysts say that reduced labor costs played a major factor in the $ 212 mil …MSNBC
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Chrysler, autos union agree on labor contract
Posted on October 17th, 2011 by admin
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Carlos Osorio / AP
Cars are seen on a Chrysler assembly line in Sterling Heights, Mich.
By Roland Jones
The United Auto Workers (UAW) union and Chrysler have reached a tentative four-year labor contract deal, the automaker said on Wednesday.
The deal follows agreements between the UAW and Chrysler’s Detroit rivals General Motors and Ford. The UAW deal is Chrysler’s first since its bankruptcy and government bailout in 2009. It covers its 26,000 hourly production workers.
The agreement is subject to UAW member ratification. The GM contract was ratified by its workers late last month and Ford workers are in the process of voting that ends Oct. 18.
UAW President Bob King said in a press statement that the Chrysler pact will create 2,100 U.S. jobs and will include $ 4.5 billion in investments to produce new models and upgraded vehicles and components by 2015.
“Less than three years ago, Chrysler was teetering on the edge of bankruptcy as our nation was thrown into the worst economic crisis since the Great Depression,” King s …MSNBC
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UAW extends Chrysler, GM contracts after deadline
Posted on September 15th, 2011 by admin
div class=”txt timestamp” content=”2011-09-15T05:34:25″>updated 1 hour 26 minutes ago 2011-09-15T05:34:25
DETROIT — The United Auto Workers union has extended its contracts with General Motors and Chrysler Group after failing to meet a deadline to reach new agreements.
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Chrysler recalling 300,000 minivans for airbag problem
Posted on August 8th, 2011 by admin
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Chrysler Group is recalling almost 300,000 2008 Dodge and Chrysler minivans to fix a problem that could cause airbags to deploy for no reason.
NEW YORK (CNNMoney) — Chrysler Group is recalling almost 300,000 model year 2008 minivans for a problem that could cause airbags to deploy unnecessarily.
Chrysler had previously recalled these minivans to fix a condition in which condensation from the vans’ air conditioners could leak onto the Occupant Restraint Control Module, a computer chip that controls the airbags. When this happens, an airbag warning light could go on and, in some cases, the airbag could deploy unnecessarily.
In that original recall, Chrysler dealers repaired the drainage system for the air conditioners so that water wouldn’t drip onto the airbag controllers.
Follow-up investigations on some of the vans involved in that recall indicated that the fix may not have been enough. Some airbag control modules that had already gotten wet still showed sings of damage that could lead to malfunctioning.
This time Chrysler Group dealers will inspect and, if need be, replace the actual Occupant Restraint Control Module computer chip itself.
Vehicle airbags deploy suddenly and with considerable force so an airbag going off unexpectedly could cause a driver to crash or could, itself, injure the driver or passenger.
There have been no known cases of inadvertent airbag deployment in van …CNN
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Chrysler recalling nearly 300,000 minivans
Posted on August 4th, 2011 by admin
div class=”txt timestamp” content=”2011-08-04T18:37:30″>updated 1 hour 38 minutes ago 2011-08-04T18:37:30
WASHINGTON — Chrysler is recalling nearly 300,000 minivans for a possible heating and air conditioning problem that could inadvertently trigger the air bag, the second related recall in nine months.
Chrysler, run by Italy’s Fiat SpA, said in a letter to regulators on Wednesday that certain 2008 Grand Voyager, Town and Country and Dodge Grand Caravan vehicles were affected by the recall.
The automaker and the National Highway Traffic Safety Administration said condensation from the heating and air conditioner could leak onto a sensor module. This could lead to activation of a warning light and inadvertent deployment of the air bag.
Dealers in North America will replace the component free of charge.
There was a recall last November to replace a heating and cooling drain tube in those model vehicles to eliminate potential condensation.
Copyright 2011 Thomson Reuters. …MSNBC
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U.S. loses $1.3 billion in exiting Chrysler
Posted on July 21st, 2011 by admin
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As government wraps up the Chrysler bailout, Treasury says it likely lost $ 1.3 billion on the deal.
NEW YORK (CNNMoney) — U.S. taxpayers likely lost $ 1.3 billion in the government bailout of Chrysler, the Treasury Department announced Thursday.
The government recently sold its remaining 6% stake in the company to Italian automaker Fiat. It wrapped up the 2009 bailout that was part of the Troubled Asset Relief Program six years early.
“The fact that the company has done so well — that they were able to go out and raise private capital to repay us the loan so quickly, is really the big story,” said Tim Massad, Treasury assistant secretary for financial stability.
Fiat paid the Treasury a total of $ 560 million for the remaining shares, as well as rights to shares held by the United Auto Workers retiree trust. Fiat now owns a 53.5% stake in the company.
Originally, the government committed a total of $ 12.5 billion to the struggling automaker, Old Chrysler, and the company’s newly formed Chrysler Group. Of those funds, $ 11.2 billion have been returned through principal repayments, interest and cancelled commitments, the Treasury said. The new Chrysler Group paid back $ 5.1 billion in loans in May.
As part of the loan …CNN
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US government ends Chrysler investment
Posted on July 21st, 2011 by admin
div id=”byline” class=”txt vcard author contributor” typeof=”v:Person vcard:VCard” rel=”dc:creator” itemscope=”" itemtype=”http://data-vocabulary.org/Person”>By CHRISTOPHER S. RUGABER
WASHINGTON — The Treasury Department said Thursday it has exited its investment in Chrysler LLC after Italian automaker Fiat SpA purchased the U.S. government’s remaining holdings in the auto company.
Fiat paid $ 560 million to the Treasury Department for the government’s 98,000 shares. Fiat has run the company since it emerged from bankruptcy protection in June 2009.
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Chrysler recalls 242,000 Ram pickups
Posted on July 14th, 2011 by admin
div id=”mainart” class=”hmedia art grid-6×2″ about=”http://msnbcmedia1.msn.com/j/ap/chrysler pickup recall-474900521_v2.grid-6×2.jpg”> Wilfredo Lee / AP
Chrysler is recalling nearly 250,000 Ram pickups because a bad part in the steering system can cause drivers to lose control of the truck.DETROIT — Chrysler is recalling nearly 250,000 Ram pickups because a bad part in the steering system can cause drivers to lose control of the truck.
The Ram is Chrysler’s top-selling vehicle. The recall covers 242,780 Ram 1500, 2500 and 3500 pickups from the 2008 to 2011 model years.
The National Highway Traffic Safety Administration said Wednesday on its website that a part near the left front wheel can fracture, and potential …MSNBC
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Chrysler recalls vehicles to fix steering columns
Posted on June 21st, 2011 by admin
div id=”byline” class=”txt vcard author contributor” typeof=”v:Person vcard:VCard” rel=”dc:creator” itemscope=”" itemtype=”http://data-vocabulary.org/Person”>By TOM KRISHER AP Auto Writer
DETROIT — Chrysler Group LLC is recalling 11,351 cars, minivans and other models because a manufacturing problem can cause the steering wheel to collapse improperly in a collision.
Chrysler told the National Highway Traffic Safety Administration that it doesn’t know of any crashes or injuries caused by the problem. The recall affects 11 of the 20 models Chrysler has on sale for the 2011 model year.
NHTSA said on its website Thursday that a missing or incorrectly installed rivet could cause the problem, increasing the risk of injury in a crash.
Recalled vehicles include the Chrysler 200 midsize sedan and convertible and Town and Country minivan; the Dodge Avenger midsize sedan, …MSNBC
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Chrysler CEO says IPO won’t come before next year
Posted on June 5th, 2011 by admin
div class=”txt timestamp” content=”2011-06-03T21:04:14″>updated 6/3/2011 5:04:14 PM ET 2011-06-03T21:04:14
TOLEDO, Ohio — Fiat’s purchase of the U.S. government’s ownership stake in Chrysler Group LLC resolves one thorny political issue. Another lies ahead: Where to base the combined company.
Work already is under way to merge the two into one automaker. Fiat SpA is Italy’s largest employer and a source of national pride, but it would be problematic for Chrysler to relocate to a foreign country after being saved by U.S. taxpayers.
“It’s a difficult call,” said Sergio Marchionne, CEO of both companies. “Access to financing is probably the most important criteria.”
Marchionne addressed the company’s future Friday after President Barack Obama toured a Chrysler’s assembly plant that makes the Jeep Wrangler. Obama came to the plant in the politically important state of Ohio to celebrate the resurgence of the U.S. auto industry and Chrysler’s announcement that it’s repaying its government loans ahead of schedule.
“What you’ve done vindicated my faith,” Obama told a group of auto workers. “Today all three automakers are turning a profit.”
Marchi …MSNBC