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MiscellaneousCourt Approves Sale of Profitable Chrysler LLC Assets to Chrysler Group LLC
Posted by mike on 2009/6/3 9:15:14 (900) reads

A major hurdle has been cleared on Chrysler's road to recovery - a U.S. Bankruptcy court as approved the sale of most of Chrysler LLC's assets to Chrysler Group LLC, the "new" company. It is Chrysler Group LLC that has the alliance with Fiat - this ruling effectively approves the alliance (merger). From the official press release:

"With this approval, the new Chrysler Group is created and can prepare to launch as a vibrant new company formed with Fiat," said Robert L. Nardelli, Chairman and Chief Executive Officer of Chrysler LLC. "Through the hard work and foresight of many Chrysler stakeholders, Chrysler Group will soon begin operations with significant strategic advantages, such as a wage and benefit structure for active and retired employees that is competitive with those of transplant manufacturers; a reduction of debt and interest expense; the disposition of idle assets; a rationalized and more efficient dealer network; and sound agreements with our suppliers. While this has been an extremely difficult chapter in Chrysler's history for all involved, the new Company and its customers, employees and suppliers can now begin on a fresh page."

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Poster Thread
tmedlock
Posted: 2009/6/4 15:52  Updated: 2009/6/4 15:52
Just can't stay away
Joined: 2007/1/11
From: New Hampshire
Posts: 83
 Re: Court Approves Sale of Profitable Chrysler LLC Assets...
Does the US military require that military vehicles be produced by US comanies? If so, with China owning HUMMER and FIAT owning JEEP what is the miltary going to be driving?

Poster Thread
trevorj
Posted: 2009/6/4 22:57  Updated: 2009/6/4 22:57
Just can't stay away
Joined: 2006/6/30
From: Kelowna, BC
Posts: 124
 Re: Court Approves Sale of Profitable Chrysler LLC Assets...
Good question, but simple answer. The HMMVW was NEVER made by GM or the GM brand they call "Hummer." The Hummer brand was simply a nameplate that GM bought the rights to, so that they could capitalize on its military appearance to sell SUVs to men with micro-penis lol

The Military Hummer (HMMVW) was built by AMGeneral which is a wholly American owned Company and is NOT up for sale, nor was it ever owned by GM (thankfully).

From AMG's website:

"In 2007, AM General and General Dynamics Land Systems formed a joint venture named General Tactical Vehicles to compete for the U.S. Army and Marine Corps Joint Light Tactical Vehicle (JLTV) program."
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