It’s been a good week for Chrysler. The United Auto Workers ratified the new collective bargaining agreement with nearly 55 percent of the vote and the company also announced a third quarter profit of more than $200 million.
Chrysler today posted a $212 million profit in the third-quarter,
Despite mixed results in the early voting, it appears likely that the United Auto Workers will ratify a new contract with Chrysler in the next few days.
Weeks after United Auto Workers members approved a new deal with General Motors, the union’s Ford workers ratified a new collective bargaining agreement with the only major American automaker not to go through bankruptcy in 2009.
With the announcement that General Motors will add 4,000 new jobs around the country, the total number of workers for the Big Three automakers is now approaching the levels from before the industry crash and resulting bankruptcies for GM and Chrysler.
The Detroit Free Press reports:
Ford,
Assuming market conditions remain favorable and a bond sale goes well, the new Chrysler — less than two years removed from bankruptcy — says it will have the federal government paid back for loans it made to keep the company afloat by the time August rolls around.
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Chrysler was the first of the two American automakers to initiate a managed bankruptcy in 2009, but General Motors was the one that went public first. Now comes word that Chrysler’s Initial Public Offering of stock may not happen this year as expected.
Fiat and Chrysler CEO
Domestic auto sales in February were up 27 percent over the same month a year ago, led by a staggering 46 percent increase for General Motors. Ford posted gains of 10 percent while Chrysler jumped 13 percent. The annualized sales were 13.4 million vehicles, far surpassing analysts’ expectations.
WorldNetDaily breathlessly reports the latest from the birtherverse: two owners of Chrysler dealerships are going to sue to get their businesses back, on the basis that Barack Obama, having never been the legitimate president, had no right to use TARP funds to restructure car companies.
Earlier this week, Legistorm discovered that the House Clerk’s Office had posted lawmakers’ latest financial disclosure forms — scheduled for release Friday — a few days early. The Washington Post dug through the records yesterday to find that some of the top cheerleaders for the $700 billion Wall More…
Seems that critics of the White House decision to bail out General Motors and Chrysler were right to question how well federal government would manage its enormous new investment. The New York Times reported today that the administration recently bought thousands of new vehicles, but a lion’s share of More…
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