26 Articles
Ex-manager arrested for stealing $67 million from DaimlerChrysler

A 41-year-old man who formerly worked as a manager for DaimlerChrysler in Europe has been arrested and charged with breach of trust and falsifying documents for allegedly bilking the automaker out of $67.35 million. You'd think they charge him with theft too, but whatev. The man worked as a manager in the finance department at DCX and was supposedly invoicing the company for computer services that never happened during a five-year period from 2000 to 2005. Three other people have also been arres

Level Field Institute releases report on domestic content

The Level Field Institute - a group consisting of Big 3 retirees - has released a report detailing the impact of domestic and transplant automotive OEMs on the American auto parts industry, and it contains some interesting nuggets of information.

DCX to redo SMART car before U.S. debut

The SMART car lineup has been trimmed from three models to just one after the cancellation of the forfour and roadster models. So the future profitability of the brand rests on the tiny fenders of the fortwo, which will be coming to the U.S. in 2008. WhatCar? is reporting that the tiny two-seater will be rehashed before it makes its American debut. As you can see from this rendering, the overall look

Chrysler execs bear brunt of health care cost increase

As Chrysler spends nearly $2.3bil on health care costs per year, about $8K per worker, it was evident at the top level that changes to the system would have to be made. Those changes were announced yesterday and involve a sliding scale of out-of-pocket premium increases that’s based on each salaried employees pay level.

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