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U.S. to Aid Auto Industry With $5 Billion for Suppliers

New York Times Original article ›

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The government created a$5 billion fund to guarantee payments to auto parts suppliers for products shipped to car companies. This stabilizes the auto parts companies which are finding it difficult to access credit and have late payments from car companies. It ensures money for payrolls and other expenses. And autoparts companies receivables can now be sold to the fund so that thye have more liquidity. It also generates more confidence for the auto parts sector that they can survive the difficult conditions facing them and be asteady source of parts for car companies.

The new Chrysler that is emerging from bankruptcy with government help under Fiat's Marchionne.

11/10/2006

Marchionne has kept many of the managers from the previous Chrysler. Jim Press is deputy CEO and adviser. He came from Toyota. Everything else will change. He is flattening the organization structure to improve communication and speed. Smaller car lineup will replace the prior lineup, and Fiat's engine technology will provide help for fuel efficient cars.

Grouped Articles

Fiat, in Deal With Union, Will Buy Rest of Chrysler

New York Times 01/01/2014

Worker Reaction to Chrysler bankruptcy

Detroit Free Press 05/04/2009

Bankruptcy reality sets in for Chrysler, workers

Detroit Free Press 05/04/2009

Chrysler reborn under alliance with Fiat

Detroit Free Press 05/04/2009

Impact:: Bankruptcy Announcement

Detroit Free Press 05/04/2009

Chrysler tried in vain to sell parts to Chinese, form partnerships

Detroit News 05/04/2009


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