InfoAnda - Chrysler, Fiat merge into new world auto giant

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Obama told Afghan progress 'slow but steady' | 7 May 2010
Anthrax Outbreak Infects 500 In Bangladesh | 16 September 2010
Special Report: Augmented hype? Mobile's next big thing | | 21 January 2011

Affidavit: Conn. shooter stole empty kegs, cases | 13 August 2010

">Forum Views () ">Forum Replies ()

Read more with google mobile : Chrysler, Fiat merge into new world auto giant

Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: Chrysler, Fiat merge into new world auto giant AFP - Thursday, June 11 MILAN (AFP) - - Chrysler and Fiat sealed their deal to create a new global auto giant on Wednesday in a milestone for the world industry after the Italian champion stepped in to salvage the bankrupt US firm. ADVERTISEMENT "This is a very significant day, not only for Chrysler... but for the global automotive industry as a whole," Fiat boss Sergio Marchionne, who stepped to the helm of the new Chrysler after engineering the merger, said in a statement. The two companies said in a separate communique that they had "finalised their previously announced global strategic alliance.... The new Chrysler will begin operations immediately." The announcement came after the US Supreme Court on Tuesday lifted the last legal obstacles to the deal despite opposition from disgruntled investors. In a letter to Chrysler employees Marchionne said that the two companies combined ranked as the world's sixth largest automaker. "Chrysler will be back -- strong and competitive and a rewarding place to work," he wrote. It "is now a more focused and nimble company" with "a healthy balance sheet," he added. The move completes a quick restructuring of the number three US automaker in a plan orchestrated and backed financially by the US and Canadian governments after the world economic crisis sped up a decline in the US auto industry. Rebecca Lindland, an analyst with IHS Global Insight, said it remained to be seen however whether the alliance would be a success. "On paper it looks great, but when you put them in front of the consumer it's going to be the real test," she said. "We won't know the success of this merger until we see the level of consumer acceptance." Canada's Industry Minister Tony Clement said in a statement that Chrysler "can now focus on producing top quality vehicles that consumers want." Fiat will at first hold 20 percent of Chrysler Group, with its equity stake rising to 35 percent and eventually to a majority stake as long as targets mandated by the deal are achieved and taxpayer funds are repaid. "We intend to build on Chrysler's culture of innovation and Fiat's complementary technology and expertise to expand Chrysler's product portfolio both in North America and overseas," Marchionne said. "Those Chrysler operations assumed by the new company that were idled during this process will soon be back up and running, and work is already underway on developing new environmentally friendly, fuel-efficient, high-quality vehicles." Fiat, which has not provided any cash for the alliance, will bring new technology to help Chrysler develop more fuel-efficient vehicles needed in the US and other markets, and will use Chrysler's sales network in exchange. Robert Kidder, a veteran of US industry, is expected to be named chairman of the new Chrysler. In his letter to the employees, Marchionne said the firm would continue to produce its Chrysler, Jeep and Dodge brands as well as developing a new electric car project with Italian technology. "This award-winning technology will... give the company a strategic advantage in many markets around the world," he said. The Supreme Court on Tuesday refused to extend a stay on the plan, imposed following complaints from Chrysler investors who argued they would be short-changed by the Fiat deal. The case was watched closely as a possible precedent for bankruptcy proceedings against General Motors, which the US government has also bailed out and ushered toward bankruptcy to allow a quick restructuring. The new Chrysler will initially be majority-owned by the United Auto Workers (UAW) union, with small stakes held by the US and Canadian governments, which would contribute some 10.5 billion dollars to the venture. Chrysler's dealership network will be cut by a quarter to 2,400 under the plan approved Tuesday allowing for the immediate elimination of 789 dealers. "The past few years have offered several painful lessons on what it will take to survive in the modern-day automotive industry," said Marchionne, who was credited with rescuing Fiat from bankruptcy when he took over in 2004. "The alliance is a bold first step to implement those lessons we've learned, but it is only a first step," he wrote. "Now we must prove we can make it work." Email Story IM Story Printable View Blog This Sign in to recommend this article » 0 users recommend Enlarge Photo A Balzekas Chrysler dealership in Chicago, Illinois. Chrysler and Fiat finalised a deal to create a new global auto giant on Wednesday after the US Supreme Court cleared the way for their alliance in a milestone for the world auto industry. Most Popular – Top Stories Viewed Ramsay eats humble pie after mum scolds him Dumped mattress lands cash in trash in Israel German retail giant goes bust, 43,000 jobs at risk Carradine may have died from sex act: Thai police Earth-Venus smash-up possible in 3.5 billion years: study View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

Other News on Thursday, 11 June 2009
Iraq: 5 US contractors to be released in Baghdad
US-TECH Summary
U.S. asking about book deal, Google says
Nechemia Meyers, veteran journalist, dies at 79
US trade deficit widens
WHO may be poised to declare flu pandemic | International |
Dumped mattress lands cash in trash in Israel
French court curbs disputed Internet piracy rules
Key events in Iran since revolution
Symantec, McAfee in settlement over subscriptions
Citigroup sets exchange, giving US govt big stake
Iran's election system
US Supreme Court clears way for Chrysler-Fiat deal
Iranian candidates' views on key issues
Irish abuse victims march, church repentant | International |
Iran cleric warns Khamenei over Ahmadinejad slur
Russia ready for nuclear-free world, Putin says | International |
Report says climate change is adding to migration
Sri Lanka bars entry to Canadian lawmaker
SKorea pinpoints 20 illegal NKorean bank accounts
Japan sets 2020 climate target
Aid workers among 11 dead in Pakistani hotel blast
Digital downloads spell end for video game stores? | Technology |
Teens in Holocaust museum heard shots, evacuated
Japan unveils new emissions cut target
Gay couples forced to flee US over immigration law
U.S. asking about book deal, Google says | Technology |
North Korea faces new sanctions
'Slumdog' child star gets new home
News Corp. forms diversity council after cartoon
Myanmar's Suu Kyi tells lawyers to push appeal
Two shot at U.S. Holocaust Museum
Ore. lawmaker wants charges for killing unborn
Symantec, McAfee in settlement over subscriptions | Technology |
Crews recovering bodies from NC Slim Jim plant
Administration jawbones corporate boards on pay
Boy unlikely to return quickly from Brazil to US
Abortion foes interested in buying Kansas clinic
China bans imports of some Renault models
Philippines scales down economic forecast for 2009
Pakistani stocks end lower after suicide attack
Jonny Lee Miller joins Sienna Miller on Broadway
Brad Pitt buys painting at top modern art fair
Chef Ramsay apologizes in Australia TV row | Entertainment |
Luxury groups use movies, dinners to boost image
Back to the future for new 'Futurama' episodes
Luxury groups use movies, dinners to boost image | Entertainment |
Little Big Town forges ahead despite adversity
Denzel Washington takes humble turn in Pelham | Entertainment |
Father's gerbil obsession gives writer a voice | Entertainment |
Tornatore's 'Baaria' to open Venice Film Fest
Cuban art market shows signs of vitality | Entertainment |
Britney Spears' `Circus' tour to return to US
Acts flock to Edinburgh Fringe despite recession
Tornatore to open Venice film festival
Ahmadinejad's economic record may sway Iran vote | International |
Obama envoy says Palestine state only option
Facebook to let users add names to profile addresses
Full climate deal 'unlikely' in Copenhagen
U.N. moves to punish Pyongyang as rival Koreas meet | International |
Craigslist revenue to hit 100 mln dollars: media group
Iran's Islamic guardians warn reformist wave
U.S. checks civilian death reports in Afghan strike | International |
French Court Rules Internet Piracy Law Is Unconstitutional
Microsoft will soon unveil free anti-virus software
Car bomb in Iraq kills about 30 people
G8 off track on increased aid to Africa: report | International |
Live Nation And Ticketmaster Planned Merger Referred To U.K. Competition Commission
Top French legal body blocks Internet piracy law
Suu Kyi says junta's charges are political: lawyer | International |
Iran Guards warn of "velvet revolution"
Russell Crowe And Director Scott Ridley's On-Set Fighting Causes "Robin Hood" Delays
China Internet filter challenged in rights uproar | International |
Brandy's Mother's Lawsuit Against The Kardashians Dismissed
Iraq gives $2.5 million for Fulbrights
Miss California USA Carrie Prejean Loses Crown
Jon Voight Calls President Barack Obama A "False Prophet"
Israeli woman mistakenly junks $1 million mattress
Respected Singer And Songwriter Kenny Rankin Dies At Age 69
Danny Gans' Cause Of Death: Toxic Reaction To Pain Medication
WITNESS: Third time lucky in crime-ridden Johannesburg | International |
British Pop Star Rachel Stevens Followed And Robbed At Home
SAG Agrees To New Contract With Producers
Philippine troops clash with Italian's kidnappers
China's first Gay Pride event
US nominee seeks re-engagement with Asia
Thai Buddhist killed in new southern violence
Myanmar's Suu Kyi hits out over guarded home
Digital downloads spell end for videogame stores? | Technology |
U.N. moves to punish Pyongyang as rival Koreas meet
China Internet filter challenged in rights uproar | Technology |
Hard fighting in southern Philippine kidnap island
Questions over future of Guantanamo Uighurs
U.S. Feds say they lifting curbs on "shoe-bomber"
Palm names Rubinstein CEO days after Pre launch | Technology |
Ill. gov's wife disappointed in husband's friends
Two Koreas resume talks amid low expectations
US cuts aid to Nicaragua
Japan's first lunar probe ends mission
1 dies in propane explosion at Minn. farm supplier
Problems of old Chrysler linger at 'new' Chrysler
New Orleans mayor out of quarantine in China
Gunman shoots, kills guard at Holocaust Museum
Police: Car hits Philly crowd, killing 3 children
AP NewsAlert
Shooting suspect's history of seething anger
Actor Johnny Palermo dies in car accident
New Zealand central bank keeps rate steady, kiwi jumps
Taiwan invited to light up Chinese cities
South Korea warns of inflation, bond futures dive
Pakistani c.bank sells 6.5 bln rupees of T-bills
SKorean-led consortium to buy AIG headquarters
China's May exports plunge by record 26.4 percent
China imports, exports sharply down in May: govt
China's investment rose 32.9 pct in January-May
Indian stars in Macau for 'Bollywood Oscars'
Chinese exports plunge 26.4 percent in May
Celebrity birthdays for the week of June 14-20
China's May exports plunge 26.4 percent
US-ENTERTAINMENT Summary
Michael Jackson concerts face legal challenge | Entertainment |
Knightley, Farrell take "London Boulevard"
Van Morrison's career almost over before it began | Entertainment |
FCC expects few problems during digital switchover
Film, TV music composers urge copyright law change | Entertainment |
Actor Johnny Palermo dies in car accident
American Idol singer Iraheta wins record deal | Entertainment |
"American Idol" singer Iraheta wins record deal
Actor Johnny Palermo dies in car accident | Entertainment |
MTV's 'Real World' going to Washington
Knightley, Farrell take London Boulevard | Entertainment |
List of top 15 cable shows in Nielsen ratings
FCC expects few problems during digital switchover | Entertainment |
Review: Coppola's `Tetro' sumptuous, self-serious
WHO declares first 21st century flu pandemic | International |
Air France 'not convinced' speed probes caused crash
Egypt's Mubarak says Obama has new approach to Islam
Luanda is world's most expensive expat city: survey
Reformists hope Iran vote will unseat Ahmadinejad | International |
Six arrested in suspected plot to attack G8: report
HP to sell Symantec backup service on consumer PCs
Obama proposes law to curb corporate bonuses
Iraq says frees 3 of 5 arrested U.S. contractors
Air France chief questions sensor role in crash | International |
Blasts rock flashpoint Georgian town
Digital downloads spell end for videogame stores?
Al Qaeda says short of food and arms in Afghanistan
Earth-Venus smash-up possible in 3.5 billion years: study
U.S. skeptical Netanyahu will back down: diplomats | International |
Libya's Kadhafi to address Rome parliament
China internet filter challenged in rights uproar
Analysis: Netanyahu cornered by hawks and Obama
Thousands march in Dublin for child abuse victims
Pakistan kills scores of Taliban in new combat zones | International |
France steps up hunt for plane's black boxes
Watchdogs urge Iraq to end media harassment
Chrysler, Fiat merge into new world auto giant
Gaddafi complains not rewarded for renouncing WMD | International |
Solana sees chance for reviving Mideast peace talks
Afghans urge Europeans to share burden with U.S. | International |
Iran gears up for tight presidential race
NATO backs Kosovo force cut, studies more | International |
EU envoy urges commitment to Palestinian state
Global fighter aircraft market heats up | International |
Taiwan 96-year-old grad student: All-nighters work
Car lands on tracks, struck by Chicago train
HP to sell Symantec backup service on consumer PCs | Technology |
Pakistan kills scores of Taliban in new combat zones
Analysis: UN could hit North Korean arms exports
Report: Timorese women dying from secret abortions
Microsoft to unveil free anti-virus software | Technology |
Florida woman rescues good ol' boys from gators
China says Japan's emissions cut target inadequate
Aboriginal kids get free laptops to fight illiteracy | Technology |
President pitches health care reform in Green Bay
Obama seeks closer ties with Kyrgyzstan
Calif. towns challenge feds on military recruiting
China demands U.S. send Guantanamo Uighurs back
1 year after Iowa floods, many still wait for help
Mayor of Chinese boomtown Shenzhen fired
Guard killed in Washington Holocaust museum attack
North Korea demands pay rise for factory park workers
Obama sends message to Kyrgyzstan leader
Native Hawaiian bill gets new airing
China's May trade plunges but investment up
Taiwan dollar slips on fund outflows and c.bank
China exports dive in May amid robust investment
Cathay's cargo, passenger traffic drops in May
China shares slip on worse-than-expected trade
Pakistan's May remittances rise 23.25 pct
Maya Rudolph puts the `big ol' belly' back on
Asia stocks mixed as Nikkei retreats from 10,000
Bangladesh to unveil ambitious budget
Egypt to publish Israeli novels for first time
Fans yawn at A-Rod tell-all
Carrie Prejean fired as Miss California | Entertainment |
Tokyo shares close notch under 10,000
Malawi court to rule on Madonna adoption bid Friday | Entertainment |
Pete Doherty in drink-driving and drugs arrest | Entertainment |
Retail Sales In May Rise Again By 0.5% Led By Gas Station Purchases
Developing: United States, WHO Declare Swine Flu Pandemic
Federal Government To Unveil $1 Billion Package For Pulp Manufacturers
Limbaugh, Gingrich, Cheney Speak For Republicans In New Poll
Iraqi Judge Releases Three Of Five U.S. Contractors Accused Of Murder In Baghdad
Poll Finds Florida Republicans Want Governor To Secure Senate Seat
New Orleans Mayor Ends Flu Quarantine In China
U.S. Transferring 17 Gitmo Detainees To Palau
"Web 2.0" Named 1 Millionth New Word
Update: Holocaust Museum Guard Dies After Shooting
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01