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post #1 of 2 (permalink) Old 11-21-2008, 08:04 AM Thread Starter
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"Itís a loan to help us succeed"

Online ad: Itís not a bailout to keep us from failing. Itís a loan to help us succeed.

Posted Thursday, Nov 20, 2008 at 3:03 pm in Company News

The domestic automobile industry is an integral part of the U.S. economy, representing 4% of our nationís GDP. One in ten jobs depend on the American auto industry, employing 2.9 million people. The industry generates $22.2 billion in annual wages, $102 billion in health care coverage, purchases $156 billion in supplier goods and services and invests $12 billion in research and development.

This week in Congress, the domestic auto industry is asking for a $25 billion loan to help keep the engine humming during these rough economic times. Hereís Chryslerís plan for a successful future:

1. We will invest in the creation of new technologies for reduced emissions and emission-free electric vehicles that support our countryís energy security and environmental improvement goals.

2. We will stand behind our products like no one else. In 2007, we introduced the Chrysler Lifetime Powertrain Warranty providing the best warranty coverage in the industry. This is the first of its
kind to be offered by any automaker . . . ever.

3. We will make our vehicles cleaner and more environmentally responsible than mandated by government standards. Right now, Chrysler offers six vehicles that are considered very good environmental performers relative to competitors. These have received the SmartWayģ certification and are recognized by the U.S. Environmental Protection Agency for having tailpipe emissions significantly lower than environmental thresholds. In other words, theyíre cleaner than they have to be.

4. We will devote ourselves to building desirable vehicles while reinvesting and preserving our environment. In order to reduce CO2 emissions at all Chrysler LLC plants, we are striving to use energy as efficiently as possible, as well as employing low-carbon energy sources wherever possible. This approach allowed our manufacturing facilities to reduce absolute CO2 emissions by more than 17% from 2002 to 2006.

5. We will continue to improve our manufacturing productivity, in fact we now equal Toyota as Americaís most productive automaker in terms of hours of assembly per vehicle, according to Oliver Wymanís The Harbor Report North America 2008.

6. We will empower American ingenuity to build smarter vehicles using smarter materials. Chrysler LLC is committed to reducing the different types of plastics used in their vehicles, eliminating harmful substances and increasing the recycled material content in our vehicles.

This is our commitment to you, the American people. We ask that you log onto Chrysler Portal Page and urge your Congressperson to support the American auto industry.

Rick

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post #2 of 2 (permalink) Old 11-23-2008, 12:24 AM Thread Starter
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Automakers to make a clearer case for bailout

November 22, 2008 - 10:28 PM

WASHINGTON

In just nine days, Detroit's Big Three automakers hope to replead their case for a $25 billion emergency loan. But this time they will be expected to produce clearer business plans.

On Friday, House Speaker Nancy Pelosi, D-Calif., and Senate Majority Leader Harry Reid, D-Nev., sent the automakers a letter calling on them to submit "a credible restructuring plan" by Dec. 2. The letter comes after Congress refused to vote Thursday on carving the loan out of the $700 billion financial rescue plan.


Automakers have said they intend to split the $25 billion loan roughly along the lines of their share of the U.S. market. GM would get $10 billion to $12 billion. Ford and Chrysler would take $7 billion to $8 billion each.

Asked how they intended to pay back the loan, Chrysler chief executive Robert Nardelli said the automakers hoped the money would buy them time to transform their businesses.

"We wouldn't be here today asking for this if we didn't have a high confidence level that we could weather this economic trough, continue to resize, make these gut-wrenching decisions to come out the other side leaner, more agile, and for us, a higher-quality, higher-reliable product," he said.


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Automakers to make a clearer case for bailout

Rick

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