Filed under: Government/Legal, Chrysler, LLC., Ford, GM, Earnings/Financials
No matter how you slice it, a proposed $25 billion loan from the Feds is a bailout, and that’s exactly what Detroit’s Big Three automakers are after, according to a report by the Wall Street Journal.
Lobbyists for General Motors, Chrysler and Ford have met with White House officials, Rep. John Dingell and a smattering of Michigan Democrats to discuss the loan, with plans to unveil the proposal after Labor Day.
The plan includes lending $25 billion to automakers in its first year at an interest rate of 4.5 percent (about one-third of what the companies are currently paying), with the government having the option to defer any payment for up to five years.
Details are scarce, and naturally, GM, Ford and Chrysler reps aren’t saying much, but if the automakers and the Feds are serious, expect more information to leak out before the proposal is officially announced.
[Source: WSJ, Photo by Tracy O | CC2.0]
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Filed under: Chrysler, LLC.
A few months back, Chrysler threw a wrench in its employee vacation plans by mandating that all white collar workers take the last two weeks of July off. The move wasn’t very popular due to the short notice provide, and didn’t save much money, but team Pentastar has decided to do it again next year. This time, however, employees have 11 months to plan their trip to the Magic Kingdom or a fuel-saving staycation (sorry, we’ll never use that term again).
Chrysler spokesperson Shawn Morgan says synchronized time off is good for helping the struggling automaker to become more efficient. The idea is that cutting down on randomly timed vacation will help projects to stay on course while also keeping different project teams from getting ahead of one another. Employees actually like the idea of getting a two week chunk of time off right in the middle of summer, provided that ample notice is given to them to plan accordingly. It also helps workers from worrying about work that is being done in their absence, helping to make the time off more enjoyable.
[Source: Detroit News]
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Filed under: Time Warp, Trends, Chrysler, LLC.
We’re already encouraged by the fact that Ralph Gilles has ascended to the top of Chrysler’s design department, as the past vehicles penned under his supervision have all been some of Chrysler’s best. Say what you want about the reborn 300 now, but when it was first introduced, it’s styling set in motion a major tidal wave of accolades and was a fresh direction for Detroit’s number 3. The ‘Edge’ look, as Gilles calls it, though, is getting a bit stale these days and Chrysler needs a new direction — Sebring anyone? According to the new design chief, ChryCo’s new look will be ‘Organic’, which Gilles says will get “our cars to be sexy again.” Remember “cab forward”? That moniker could make a comeback along with the more stylish interiors that Chrysler so desperately needs.
[Source: Automotive News - sub. req’d]
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