chrysler financial


REPORT: Chrysler Financial to wind down by 2011, executive pay, well, not so much

Cerberus submitted its plans for Chrysler Financial to the U.S. Treasury, and then in an announcement that came as a surprise to Cerberus itself, the Treasury said that Chrysler Financial would be shutting down by December 31, 2011. The lending arm paid back its $1.5 billion loan from the government's TARP program, but much of its dealer financing and loan operations were replaced by GMAC. Even though Chrysler Financial is a far weaker business than it once was -- its loan portfolio has been more than halved -- Cerberus said that ... Read more →

REPORT: Chrysler Financial repays $1.5B in government loans Damon Lavrinc

According to a variety of reports, Chrysler Financial has reimbursed the $1.5 billion it was loaned on January 16 through the Treasury Department's Troubled Asset Relief Program (TARP) – making ...

Autoblog Podcast #124 Dan Roth

Chris, Sam and Dan kick it again for Episode #124 of the Autoblog Podcast. This time, we touch on Toyota's competitive Prius price posturing, the Shanghai Motor Show, where Chinese automakers ...

REPORT: Unsigned waivers to blame for Chrysler Financial rejection of gov't cash Frank Filipponio

Over the past two days, we've told you what we've heard about the latest short-term federal aid coming to Chrysler and GM. According to the latest reports, it will be $5B to the latter and $500M to ...

REPORT: Chrysler Financial turns down government loan over executive pay limit stipulations Jonathon Ramsey

Earlier this month Chrysler Financial (CF) turned down a $750 million loan from the government meant to allow it to continue providing loans to dealers. This is where it turns into he-said-she-said: a ...

Cerberus may cut 10% of its workforce 9 months ago on Autoblog

That Chrysler continues to struggle isn't exactly news. As a whole, the auto industry is tanking and cars just aren't moving off dealer lots. Chrysler initially responded by offering buyouts to its entire workforce, and 25% off all its salaried workers took the company up on the offer. Earlier this ...

Fed grants GMAC bank holding status 10 months ago on Autoblog

GMAC – and ergo General Motors – just got another Christmas present: the Federal Reserve has granted GMAC bank holding status. GMAC has billions of dollars of bonds coming due over the next 12 months, but doesn't have the liquidity to cover the obligations. As of last week, the financing ...

GM/Cerberus talks over full ownership of GMAC 1 year ago on Autoblog

It's been a crazy few days as news broke that Chrysler and General Motors have been in talks to combine operations. It turns out that there's a pretty significant back-story to these proceedings, and it involves Cerberus Capital Management's possible desire to shed its car-building operations and ...

Chrysler Financial scores $24B line of credit 1 year ago on Autoblog

It's up and down, but nowhere near out for Chrysler, LLC. The Big Three's smallest sibling says that it's ahead of internal estimates and has posted earnings in excess of one billion for the first half of '08. True, the company also posted a $510 million loss in Q1 according to minority shareholder ...

Chrysler offering even more incentives to close out July 1 year ago on Autoblog

The automotive sales sector is in a major state of flux as consumers continue to run from SUVs and pickup trucks into smaller, more fuel efficient cars. One manufacturer hit especially hard by this transition is Chrysler, a company that recently posted the worst fleet average fuel economy numbers ...

Nardelli says Chrysler in a financial jam 1 year ago on Autoblog

Chrysler Chief Executive Robert Nardelli tells a grim tale for the automaker's 2007 financial report. He has informed employees that the company is barreling towards a substantial loss this year. Bankruptcy would be imminent without $10 billion recently received from investors during the Cerberus ...

Chrysler blocks the doors to prevent white collar exodus 2 years ago on Autoblog

Chrysler is apparently a little worried that there might be a mass exodus of executives during the transition from DaimlerChrysler "partnership of equals" to Cerberus stewardship. Because of that, they have taken the bold step of advising current employees against applying for jobs at Daimler AG or ...






Autoblog Podcast #152: Paukert Enhanced!

Eddie Alterman wades in with Sam, Chris, Dan, and Jonny to talk about SEMA and other recent events.

 
 

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