Chrysler town and country

ASSOCIATED PRESS FILE PHOTO Dodge Caravan and Chrysler Town & Country minivans roll off the assembly line at the Chrysler Assembly Plant in Windsor in this 2007 file photo.

Report: Chrysler fears Canada closures POSTED BY DAVE HERRERA FREE PRESS WEB PRODUCER

The struggling automaker is talking up a rebound. But even if it partners with Fiat, a high debt load and brutal cuts could leave it flat By David Welch Story Tools post a comment e-mail this story <a href=’/print/lifestyle/content/mar2009/bw20090310_215733.htm’ target="_blank"

Why Detroit’s automakers might get a rescue package Interactive On The Job Explore America’s labor economy, track recent major layoffs and meet key economic players. (CBS/AP) Unionized workers at Ford Motor Co. have approved contract changes that include freezing wages and cutting benefits in a move to aimed at helping the automaker remain competitive. The United Auto Workers said Monday a majority of hourly workers voted in favor of modifications to the 2007 contract with Ford, eliminating cost-of-living increases and cash bonuses. The UAW said 59 percent of production workers and 58 percent of skilled-trades workers voted for the concessions. "By working together with our UAW partners, we identified solutions that will help Ford reach competitive parity with foreign-owned auto manufacturers and that are important to our efforts to operate through the current economic environment without accessing a bridge loan from the U.S.
government," said UAW President Ron Gettelfinger in a written statement. The ratified deal also ends the controversial jobs bank program that let workers collect most of their pay from the company. The concessions also let Ford make payments in stock to a union-run trust for retiree health care. Ford, which has not sought government funding as rivals General Motors Corp. and Chrysler LLC have, is the first U.S. automaker to come to an agreement with the union. The details of the Ford agreement are expected to be a guideline for GM and Chrysler. The UAW must now negotiate concessions on the health care trust with those two companies as a deal with the union is a requirement of the $17.4 billion they have received in federal aid so far. Members of President Obama’s auto task force toured Chrysler and GM facilities in Michigan on Monday. The two companies have received more than $17 billion in government loans and the task force will decide if they should get more. But, reports CBS News business correspondent Anthony Mason, some top Republicans - including Sen. John McCain - say "enough," let GM file for Chapter 11. It’s a drastic step, but as Mason reports, some experts believe it’s the best choice for the ailing automaker. Shares of Ford rose 4 cents to a $1.74 in late afternoon trading. "By working together with our UAW partners, we identified solutions that will help Ford reach competitive parity with foreign-owned auto manufacturers and that are important to our efforts to operate through the current economic environment without accessing a bridge loan from the U.S.

government," said Joe Hinrichs, Ford’s group vice president of global manufacturing and labor affairs, in a written statement. Chrysler and GM are required to bring their labor costs in line with those of foreign auto companies’ plants in the U.S. Under terms of their loan agreements, progress must be made by March 31. The companies are seeking an additional $21.6 billion in government aid. Chrysler, however, may not be able to match Ford’s guarantee of issuing additional shares for the trust if Ford’s share price drops, according to a person briefed on Chrysler’s negotiations. The person asked not to be identified because the talks are private. В©

Car dealership owner Denny Hecker owes Chrysler Financial Services more than half a billion dollars, according to one of several lawsuits against him.Hecker, whose headquarters are in St. Louis Park, fired the first volley last November by suing the lending company for removing his line of credit. Hecker s suit argued that the move endangered the operations of several of his dealerships. Shortly after filing the lawsuit, Hecker closed numerous dealerships and sold others.However, Chrysler Financial Services lawsuit, filed last month in Hennepin County District Court, states Hecker and numerous entities owned by him defaulted on their loans and failed to make payments.
As a result, Chrysler Financial demanded Hecker immediately pay back the entire amount of the loan debt.Hecker personally owes Chrysler Financial more than 50 million, with the remainder of nearly 550 million of debt coming from a variety of his companies, according to the lawsuit.Michigan-based Chrysler Financial is in the process of seizing, foreclosing and selling property Hecker had put up as collateral, according to the lawsuit.The suit seeks a court order that could award the company the nearly 550 million, which includes accrued interest, plus further interest and attorneys fees and any other penalties a judge deems appropriate.Hecker companies named in the lawsuit are parts of dealerships and subsidiaries, including Monticello Motors, Inver Grove Heights dealerships, Rosedale Dodge, Stillwater Ford, Eden Prairie Auto Properties and many more.Hecker filed his own earlier lawsuit in federal court.

His filing states that Hecker is without a floor plan to offer leasing at his dealerships and several rental-car investments, leaving him unable to satisfy customer demand, and in turn, (he) cannot operate the day-to-day business.
Hecker and Chrysler Financial Services have been doing business together for more than two decades, according to reports. Many large dealerships borrow from automakers through their financing divisions to keep thier inventory updated.Chrysler is one of many automotive giants nationwide that has posted huge losses. Hecker s complaint explains that Chrysler s decision to pull his line of credit leaves him unable to replenish his supply of automobiles with up-to-date models. The complaint contends also that Chrysler was expected to support the purchases of rental-car businesses such as Advantage Rent A Car.The rental car service, which operates on a national level, filed for bankruptcy protection last December.Hecker s suit contends that Chrysler Financial of doing enormous damage to Hecker s reputation, as other manufacturers and suppliers were notified by Chrysler about its decision to rescind Hecker s funding.

Chrysler Financial encouraged Hecker to slide further and further into the red, the complaint contends.His lawsuit asserts that his troubles with Chrysler Financial began after Cerberus Capital Management bought Chrysler in 2007.Dealerships Hecker has closed include locations in Blaine, Forest Lake, Monticello, Roseville, Shakopee and Stillwater.
He also sold dealerships in Inver Grove Heights and California. He has been working on a potential deal with The Pohlad Group to sell existing Inver Grove Heights dealerships he still owns, according to published reports last week.The Ford Motor Co. last month also filed a much smaller lawsuit against Hecker, for 3.1 million. Ford s lawsuit alleges a closed Hecker business in Stillwater owes the company money for vehicles and parts. Community National Bank sued Hecker for 1.1 million in December over another alleged loan default. Additionally, General Motors has filed a lawsuit that aims to prevent Hecker from selling Hyundai vehicles at Southview Chevrolet in Inver Grove Heights.Monticello Times Managing Editor Mike Schoemer contributed to this report.

Video Comments Reader Comments Comments are limited to 200 words or less. YUP wrote on Feb 12, 2009 4:25 PM: What a tangled web we weave ,once we practice to deceive.Our govt. isn’t far from the same calamity,HOLD ON TO YOUR WALLETS FOLKS!! Name: Email: (optional) Comments: Image Verification: (Case sensitive) &nbsp

Members of President ObamaРІР‚в„ўs auto task force visited General Motors and Chrysler on Monday to see firsthand the companies whose fates rest in their hands. Top advisers on the task force, like Steven Rattner and Ron Bloom, toured G.M. and Chrysler plants in Warren, Mich., including a Chrysler factory that builds Dodge Ram pickups. They also drove prototypes of G.M.РІР‚в„ўs new extended-range electric car, the Chevrolet Volt. The auto executives and workers can only hope they made a favorable impression, as the task force enters a critical phase for deciding how, and whether, to rescue the two automakers, The New York Times s Bill Vlasic and Nick Bunkley reported.
The task force members told G.M. and Chrysler executives and leaders of the United Automobile Workers union that Mr. Obama was aware of the urgency of DetroitРІР‚в„ўs problems and was committed to supporting the industry, said an administration official who spoke on condition of anonymity because the discussions were private.

However, the official also said that the president saw the need for a fundamental reorganization of G.M. and Chrysler, without specifying how that would be accomplished. At issue is whether the government extends up to $21.6 billion in additional loans to G.M. and Chrysler, or arranges federally financed bankruptcies for the companies. The government has set a March 31 deadline to decide whether to provide more aid to the automakers. By then, G.M. will have exhausted the $13.4 billion in federal loans it has already received. Chrysler is also on the brink of using all of its $4 billion federal loan. “They don’t have the luxury of time because these companies are deteriorating before our eyes,” John A. Casesa, whose consulting business, the Casesa Shapiro Group, advises the auto industry, told The Times. The task force’s visit drew intense interest in the Detroit area. Helicopters from local televisions stations hovered over the G.M. Technical Center to catch a glimpse of Mr. Rattner and Mr. Bloom, two former investment bankers, as they drove the Chevy Volt around the grounds of the sprawling complex. A front-page headline in The Detroit Free Press conveyed the desperation of the city. “Hear Us Out,” it said. “We’re in Crisis.” The companies provided few details of the meetings. A Chrysler spokeswoman, Lori McTavish, told The Times that the task force had met with the company’s chairman, Robert L. Nardelli, and reviewed several products it is planning. “We were pleased to host the task force so they could experience firsthand the new products and technologies that are integral parts of G.M.’s near- and long-term competitiveness,” G.M.
said in a statement. The group — which included two officials from the National Economic Council, Diana Farrell and Brian Deese — also met with Ron Gettelfinger, president of the U.A.W. Mr. Obama formed the task force last month to assess broad reorganization plans submitted by G.M. and Chrysler as a condition of their federal loans. The panel, led by Timothy F. Geithner, the Treasury secretary, and Lawrence H. Summers, director of the National Economic Council, is weighing whether to provide more loans, or require the companies to reorganize in bankruptcy. The task force has held a number of meetings not only with G.M. and Chrysler executives, but also with dealers, suppliers, bondholders and a variety of industry specialists. One auto analyst who met with the group last week said its members were studying long-term industry trends as well as specific problems facing G.M. and Chrysler. “You can’t learn everything in six weeks, but they’re sure giving it a shot,” the analyst, Sean McAlinden, chief economist with the Center for Automotive Research, told The Times.

“This will be an informed decision.” The leader of the National Auto Dealers Association, John McEleney, met with the task force for 90 minutes last Friday. “We didn’t spend much time on the bankruptcy discussion at all,” Mr. McEleney, who owns two dealerships in Iowa, that sell multiple brands, including G.M., told The Times. “And hopefully that won’t be something we’ll have to talk about.” The government has ordered G.M. and Chrysler to reduce their unsecured debt by two-thirds, and to convince the union to take stock to finance at least 50 percent of a new health care trust for retired workers. Those talks are continuing, The Times said, citing people with knowledge of the discussions. The third Detroit automaker, the Ford Motor Company, has not asked for government loans. However, Ford reached an agreement with U.A.W. on financing for its health care trust, and last week made offers to bondholders to substantially reduce its debt. On Monday, the U.A.W. announced that its members at Ford had approved the agreement that allows the company to finance the trust with a combination of cash and stock. Go to Article from The New York Times » Previous post They Tried to Outsmart Wall Street Next post Clearwire Names New Chief

Published: March 10, 2009 3:00 a.m. GM, Chrysler show off latest Tom Krisher Associated Press Advertisement WARREN, Mich. Four members of President Obama’s auto task force spent much of their Monday driving General Motors Corp. electric vehicles and touring a Chrysler LLC pickup truck factory. The members, led by Wall Street financier Steven Rattner and Steelworkers union official Ron Bloom, traveled first to GM’s tech center in the Detroit suburb of Warren, Mich., and then drove to Chrysler’s Warren Truck plant.
GM and Chrysler are living on a total of $17.4 billion in government loans, and the task force is trying to determine whether they will get more money. The companies have requested a total of $39 billion as they try to survive the worst U.S. auto sales downturn in 27 years. Task force members first visited the sprawling GM tech center, where they were greeted by CEO Rick Wagoner and test-drove white and silver Chevrolet Volt electric cars, according to shots taken from TV news helicopters.

Then it was off to the Chrysler plant in a 2009 silver Jeep Grand Cherokee Laredo driven by Bloom, where they met with top Chrysler executives including CEO Bob Nardelli, Vice Chairmen Jim Press and Tom LaSorda and Chief Financial Officer Ron Kolka.
They entered the plant near an auditorium in which the company had placed several of its future products including electric vehicles. Both companies are working on rechargeable electric vehicles like the Volt that can go around 40 miles on a single charge from a household outlet. After 40 miles, small internal combustion engines kick in to generate electricity and power the car farther. The automakers were eager to show off new products in an effort to prove they can become viable despite billions of dollars in losses. Chrysler lost $8 billion last year, while GM lost $30.9 billion. Without government help, both companies would have run out of money early this year.

id="spc_503501"> id="spc_431771"> RSS feeds for this site id="spc_431772"> New Product Information class="horizontalcomponent" id="spc_389567">Snap-on focuses new line on Chrysler vehicles Publish date: Mar 10, 2009 Source: Motor Age Email|Print|ShareDel.icio.usDiggRedditFacebook |Save|License class="horizontalcomponent" id="spc_10026">RELATED Snap-on puts tech troubleshooting on ‘fast track’Snap-on giving away nine $5,000 shopping sprees Snap-on has developed 11 tools that are specifically designed to work on Chrysler vehicles.
Motorists are keeping their current vehicles longer due to today s economic conditions, leading to more maintenance and repair work, says Scott Amundson, product manager for Snap-on. We designed 11 Chrysler-specific tools to help service technicians be more efficient and save precious time when working on the Chrysler cars, SUVs, trucks and minivans that come to their bays. The Snap-on Chrysler Job Challenge tools include: 36mm -inch Drive Pinion Nut Impact Socket (No. IMDM360) - Removes pinion nut on 11.5-inch AAM axles on 2004 Dodge trucks. Brake Bleeder Wrench 10mm and 11mm 6pt (No. S6111) - Bleed brake systems on most late model Chryslers. 22mm Inner Tie Rod Bushing Socket Low Profile (No. ITRS22) - Remove and install hex head bolts that attach inner tie rod bushing to the rack and pinion. Dodge Wheel Hub Removal Socket (No. DHP1) - Designed to remove front hubs on 3/4 ton and one ton Dodge pick-up trucks. 17mm to 18.5 mm Tie Rod Adjusting Tool (No. YA2218) - Adjust tie rods with hex gripping sections. 5/8-inch Low Profile Spark Plug Socket (No. S9724RHS) - Remove/install spark plug on small block Mopar engines with racing exhaust headers. Harmonic Damper Pulley Puller (No. YA6490) - Application can be time consuming if you need to remove the radiator. Diesel Fuel Filter Socket (No. A129) -Use for removing and installing fuel filter housing on 2002 and later Dodge Ram trucks. 1/2-inch Drive 12mm Impact Socket (No. LDT4) - 1/2-inch drive 12mm impact socket. 1/4-inch Drive E5 Deep Torx (No. STLE50) - Socket is used for bolts found on steering columns with air bags. 1/4-inch Drive E4 Deep Torx (No. STLE40) - Socket is used for bolts found on steering columns with air bags. For more information, visit www.snapon.com/chryslerchallenge or call 877-SNAPON-2. class="horizontalcomponent" id="spc_486746"> class="horizontalcomponent" id="spc_10030">

src="/mngi/tracking/track?s=525&c=11873341&t=VIEWED&n=1" style="display:none;"/> Panel surveys electric cars Task force visits Chrysler, General Motors By Tom Krisher / Associated Press Posted: 03/10/2009 12:00:00 AM MDT WARREN, Mich.
– Four members of President Barack Obama’s autos task force spent much of their Monday driving General Motors Corp. electric vehicles and touring a Chrysler LLC pickup factory. The members, led by Wall Street financier Steven Ratt-ner and Steelworkers union official Ron Bloom, traveled first to GM’s tech center in the Detroit suburb of Warren, Mich., and then drove to Chrysler’s Warren Truck plant.GM and Chrysler are living on a total of $17.4 billion in government loans, and the task force is trying to determine if they will get more money.

The companies have requested a total of $39 billion as they try to survive the worst U.S. auto sales downturn in 27 years.Task force members first visited the sprawling GM tech center, where they were greeted by Chief Executive Rick Wagoner and test-drove white and silver Chevrolet Volt electric cars.Then it was off to the Chrysler plant in a 2009 silver Jeep Grand Cherokee Laredo driven by Bloom, where they met with top Chrysler executives, including CEO Bob Nardelli, Vice Chairmen Jim Press and Tom LaSorda and Chief Financial Officer Ron Kolka.They entered the plant near an auditorium in which the company had placed some future products, including electric and hybrid vehicles.
The plant employs about 2,600 workers.Both companies are working on rechargeable electric vehicles like the Volt that can go about 40 miles on a single charge from a household outlet. After 40 miles, small internal combustion engines Advertisement kick in to generate electricity and power the car farther. Chrysler and GM have pledged to bring the electric vehicles to market sometime next year.The automakers were eager to show off new products in an effort to prove they can become viable despite billions of dollars in losses.

Chrysler lost $8 billion last year, while GM lost $30.9 billion.Without government help, both companies would have run out of money.Bloom, Rattner and the others arrived at the Chrysler plant just as the second shift was heading for work making the Dodge Ram pickup.They also were to meet with United Auto Workers President Ron Gettelfinger and other union officials.GM and Chrysler both issued short statements saying they were happy with the opportunity to show the task force members their new products."We believe today’s visit provided a constructive glimpse of GM people, their passion for their work, and the future products and technologies that are an integral part of our viability plan," GM’s statement said.Melvin Thompson, a worker and former union official at the Dodge truck plant, said Monday the visit to Warren shows that Rattner and Bloom are interested in learning about the industry."It adds a human touch to the decisions that they make," he said as he left the plant after working the first shift.
"They’re determined not to be insulated from their decisions."The task force is trying to figure out how best to save the struggling GM and Chrysler as well as their parts suppliers. Ford Motor Co. has yet to take government aid, but lost $14.6 billion last year.The government can recall its loans to GM and Chrysler if they fail to sign deals for debt restructuring and other concessions from stakeholders including the UAW by March 31.

GM and Chrysler are seeking $21.6 billion in additional financing to execute turnaround plans submitted last month.

CAW wants Chrysler to commit to Ontario plantsNicolas Van Praet, Financial PostР’В  Published:Р’В Monday, March 02, 2009 Related TopicsChrysler LLC General Motors Corporation Automobile Manufacturing Rick Laporte United Auto Workers Story Tools- + Change font size Print this story E-Mail this story Share This StoryFacebook Digg Stumble Upon More Story tools presented by The Canadian Auto Workers says it wants commitments from Chrysler LLC stating the company will build new vehicles at its two Ontario assembly plants before the union agrees to changing its labour contract.
"We, along with the government, are looking for specific, long term plans as to Chrysler’s footprint in Canada," Rick Laporte, the CAW’s bargaining chairperson for Chrysler, said in a Web posting to union members Monday.

"There must be some accountability as to future investment in return for loans and labour agreements." Chrysler has not made any formal pledge to build specific cars or trucks in either the United States or Canada, Mr.
Laporte said. The company has plants in Windsor, Ont. and in Brampton near Toronto. The posting came as top union leaders representing workers at General Motors Corp., Ford Motor Co. and Chrysler plants in Canada met in Toronto Monday to discuss bargaining strategy ahead of formal negotiations expected to start within two weeks. GM and Chrysler are asking the union to consider changes to their work contracts in an effort to bring their labour costs more in line with those at the U.S. plants run by Toyota Motor Corp. and other overseas-based manufacturers. The automakers need to cut new labour deals to win an estimated US$8.25-billion worth of repayable loans they’re seeking from the Ontario and Canadian governments. Ford Motor Co. is not asking for aid. Ford last week announced it struck a deal with the United Auto Workers, the CAW’s sister union in the United States, that will see the automaker use stock instead of cash to pay up to half of the US$13.6-billion it owes to a union-run health fund for retirees.

The agreement could be the template for similar deals the UAW is negotiating with GM and Chrysler. "The UAW has made painful decisions with a clear goal of preserving jobs for the future," Mr. Laporte said in the posting, noting the deal also preserves wages and benefits but eliminates hundreds of dollars in bonuses and cost-of-living adjustments. He suggested CAW members will need to consider equally significant changes to their contracts. "I want to stress with all our members in the strongest possible terms, this industry is in serious trouble and has not hit the bottom yet," the posting said. "I am personally not convinced these companies will survive if things continue to slump… We are in for some real tough times and I am not sure our members understand the situation we are facing." GM Canada has said it needs a deal in place with the CAW and the federal governments by a March 31 deadline.
Tony Clement, federal industry minister, said last Friday he would be willing to extend that timeframe. In its last contract negotiations with the automakers, the CAW’s stated goal was to leave based wages unchanged at $34 an hour. Under the current contract, wage premiums like overtime and paid time off are worth another $14 an hour. The union represents 31,000 workers at the Detroit-basd automakers in Canada. Close Presented by