Ford might actually have another convert. My mother in law just got a new taurus and that thing is NICE
I like the Fusion, and ,... umm, a mustang that I like? What the hell?
The Ecoboost will be huge too. Can't wait.
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Ford might actually have another convert. My mother in law just got a new taurus and that thing is NICE
I like the Fusion, and ,... umm, a mustang that I like? What the hell?
The Ecoboost will be huge too. Can't wait.
Yup. I really like the new Fusion. Sport trim with AWD and 263HP sounds like a decent ride. I won't be buying a car for a couple years still, so I'm hopeful an ecoboost or two will be in the Fusion by then.
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Quote: Originally Posted by edgeandink
The reason they can put down decent 1/4mile times is mostly in part to the solid rear axel and its ability to hook and go. But we all know that doesnt mean crap from a dig.
REPORT: Chrysler planning second Fiat-based compact sports sedan
For Chrysler, the cornerstone of its proposed alliance with Fiat is for the Italian automaker to supply its domestic partner with smaller, more fuel efficient platforms and drivetrains. It's been assumed that the Fiat 500 would be one of the vehicles Chrysler plans to market in the U.S., but according to a the Wall Street Journal, it may have more than a subcompact up its sleeve.
According to the report, Chrysler showed its (troubled) dealers the automaker's future products today in Auburn Hills, Michigan, and along with the all-new 2011 Jeep Grand Cherokee and a revised Chrysler 300, a "sporty little sedan" produced by Fiat was in attendance.
Chrysler's head of design, Ralph Gilles, told dealers that the automaker intends to have its own version of the car, with Fiat providing the chassis and Chrysler designing the exterior.
Although the WSJ's source didn't specify which Fiat was shown, informed speculation says that it was likely the Fiat Bravo (DO NOT RULE OUT THE MiTo Chrysler is certin to get a version), which would make a killer Dodge Caliber replacement and would finally provide Chrysler with a true successor to the Neon after its demise in 2006. It sounds like the COLT name could come back.
COLT - Golf / Mini / Mazda3 competitor
Chrysler MiTo version - A3 / 1 series / competitor.
Last edited by AllForSRT : 04-28-2009 at 03:28 PM.
Yup. I really like the new Fusion. Sport trim with AWD and 263HP sounds like a decent ride. I won't be buying a car for a couple years still, so I'm hopeful an ecoboost or two will be in the Fusion by then.
Went and looked at one this afternoon. MAN is it nice!!! 2010 ford fusion sport on TwitPic
With the options this one had, it was priced at $27k. The interior is better than ANY other American sedan I've ever been in.
Amazing how far Ford has come. If only Chrysler could bring out the 200C... I'd be all over that, but unless that happens in the next year or so, I might be buying a Fusion.
DETROIT – Italian automaker Fiat Group SpA will sign a partnership agreement with Chrysler LLC by Thursday as negotiations continue to keep the struggling automaker alive without filing for bankruptcy protection, according to three people briefed on the deal.
One thing is certain: Chrysler will not be sold off in pieces, according to another person briefed on the fast-moving talks.
The Fiat partnership is the last piece of a huge restructuring plan needed for Chrysler to continue operations as it approaches Thursday's government deadline to cut labor costs, slash debt and take on a partner.
But it was unclear Wednesday whether the struggling Auburn Hills, Mich., automaker will be able to stay out of bankruptcy court. That, according to the people, hinges on whether a group of hedge funds that hold 30 percent of its debt agree to forgive most of what they're owed.
If they don't agree, Chrysler would file for Chapter 11 bankruptcy and enter a short period of restructuring. If they do, the company would be able to restructure out of court. In both cases, Fiat would be a partner and the government would finance the restructuring rather than cut off Chrysler's aid, the people said.
"Chrysler will survive and avoid liquidation. Whether that happens in or out of bankruptcy remains uncertain at this point," said one of the people.
All of the people spoke on condition of anonymity because the partnership agreement had not been announced. President Barack Obama may hold an event at the White House on Thursday should a deal be ready to announce, but nothing has been finalized.
One of the people said Fiat initially would take a 20 percent stake in the company in exchange for its small-car and engine technology. Initially Fiat would not invest any cash, but its technology is worth $8 billion to $10 billion, the person said.
Fiat's stake could rise to 35 percent, and the company may be willing to invest money at a later date, the person said.
President Barack Obama, speaking at a town-hall style event near St. Louis, said earlier Wednesday that he didn't know if a deal to save Chrysler would be completed.
"We're hoping that you can get a merger where the taxpayers will put in some money to sweeten the deal but, ultimately, the goal is we get out of the business of building cars, and Chrysler goes and starts creating the cars that consumers want," he said.
Chrysler has borrowed $4 billion from the government since the beginning of the year and could soon be in danger of running out of cash without more help. The government in March rejected Chrysler's restructuring plan and gave it 30 days to make another effort.
On Sunday, the Canadian Auto Workers ratified concessions to the automaker, and the United Auto Workers in the U.S. reached a tentative cost-cutting deal that members will finish voting on by Wednesday night.
Workers at at least one Chrysler factory overwhelmingly approved the concessions. UAW members at a parts stamping plant in Sterling Heights, Mich., voted 81 percent in favor of the deal, a union official said.
On Tuesday, four major banks that hold 70 percent of Chrysler's $6.9 billion in secured debt agreed to a deal that would erase the debt for $2 billion in cash. But 46 hedge funds that hold the remainder of the debt have refused to go along, leading to further negotiations.
The people familiar with the deal said that if the hedge funds don't agree, Chrysler could go into a short "surgical" bankruptcy under Section 363 of the bankruptcy code. The smaller lenders would have little power to stop the debt from being restructured in bankruptcy court, since the lenders holding the majority of the debt are on board with the plan, the people said.
If an agreement is reached, Chrysler would restructure outside of bankruptcy with government help, they said.
Fiat spokesman Gualberto Ranieri declined to comment on the deal, and messages were left with a Chrysler spokeswoman.
Chrysler LLC Chief Executive Robert Nardelli said Wednesday in an e-mail to employees that the automaker was making progress toward meeting the government's restructuring requirements.
He pointed to the deal with debt holders and the UAW deal.
"I'm encouraged by this progress and I want you to know I deeply appreciate the sacrifices made by so many constituents to help us reach the restructuring targets established by the government," Nardelli wrote.
UAW members are expected to approve the contract concessions, which include taking a 55 percent stake in Chrysler in exchange for about $6 billion of the $10.6 billion Chrysler must pay into a union-run trust that will take over retiree health care costs.
With union issues nearly out of the way and the debt resolved either in or out of court, Fiat agreed to cement the partnership with Chrysler, the people said.
"It'll be signed by tomorrow, I know that," one of the people told The Associated Press.
Obama, speaking in Arnold, Mo., not far from a Chrysler minivan plant, said workers at the company have made enormous sacrifices to keep Chrysler alive.
"One of the key questions now is: Are the bondholders, the lenders, the money people, are they willing to make sacrifices as well? We don't know yet. So there's still a series of negotiations that are taking place," he said.
The government clearly was trying to put pressure on the hedge funds as Chrysler's deadline approached.
Michigan Gov. Jennifer Granholm, speaking at a news conference about the swine flu in Lansing, urged them to consider Chrysler's 54,000 employees.
"The future of Chrysler is in the hands of some of these hedge funds that want to hold out for a greater profit," she said. "So on behalf of Michigan, on behalf of the thousands of people who will be affected if this company is forced into bankruptcy, I am publicly asking these hedge funds to not be greedy but to do what the banks have done and what everyone else around the table has done — take the concessions," she said.
Financial parties being greedy? WHAT? No way LOL
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Quote: Originally Posted by al2683
One of the most realistic parts of this video is that it shows two guys riding together in the Subaru, they are in love, I think it is a touching and realistic portrayal of Subaru owners and I applaud them for it.
Found this posted by a Chrysler engineer on another forum... Supposedly sent out at 12:49 PM (EST?) today to all Chrysler Employees from Bob Nardelli.
Quote:
Dear Chrysler Employees:
This is a historic day for Chrysler. As a result of the comprehensive restructuring plan agreed to by many of our stakeholders, I am very pleased to report that Chrysler LLC and Fiat S.p.A. have reached an agreement in principle to establish a global strategic alliance. This agreement creates a new, competitive, global car company that will take over a majority of Chrysler’s operations. With the completion of this alliance, Chrysler will be repositioned for long-term success, validating the great efforts and sacrifices that you have made to help us get to this momentous point.
In addition to the alliance news today, I announced to Chrysler’s Board of Management and our senior leadership as well as the U.S. Treasury that I plan to leave the company and return to Cerberus Capital Management as an advisor. With the U.S. government approval of our viability plan and the completion of an agreement in principle for the alliance, this is an appropriate time to let others take the lead in transformation of Chrysler with Fiat. I will work closely with all of our stakeholders to complete the restructuring and see that this new company swiftly emerges with a successful closing of the alliance.
This alliance will enable Chrysler to move forward as part of a new company with significant strategic advantages, including access to high quality, fuel-efficient small and compact vehicles, as well as platforms, powertrain technologies and components that will be produced at Chrysler manufacturing sites. Together, Chrysler and Fiat will bring a range of exciting, new fuel-efficient vehicles to North American consumers, helping stimulate growth in this segment. The alliance also will allow Chrysler and Fiat to fully optimize our respective manufacturing footprints and global supplier base. Each company will gain access to new markets, including distribution of Chrysler vehicles to areas outside of North America, and potential distribution of Fiat vehicles through Chrysler’s dealerships in North America.
As you know, Chrysler initiated discussions with Fiat more than a year ago to develop plans for a global product alliance. Chrysler and many of its stakeholders worked tirelessly to agree upon concessions that will result in a significantly lower cost base and enable fulfillment of a broader strategic alliance. Despite substantial progress on many fronts, we were not able to obtain the necessary concessions from all of our lenders. As a result, under the direction of the U.S. Treasury, Chrysler LLC and 24 of its wholly owned U.S. subsidiaries today filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code in U.S. Bankruptcy Court for the Southern District of New York.
Even though total agreement on concessions was not possible, I am truly grateful for all that has been sacrificed, on the part of many of Chrysler’s stakeholders to reach an agreement in principle with Fiat. My number one priority has been to preserve Chrysler and the livelihoods of thousands of people who depend on its success. While I am excited about the creation of the global alliance, I am personally disappointed that today Chrysler has filed for Chapter 11. This was not my first choice.
It’s very important to make clear that, because of the amount of work we’ve already done prior to filing for Chapter 11, this will be a very different kind of process than you may have seen with other companies. With this “structured bankruptcy” filing, we will submit a motion under Section 363 of the Bankruptcy Code requesting the court to swiftly approve the agreement with Fiat and the sale of Chrysler’s principal assets to the new company we are forming with Fiat. The benefit of this type of filing is speed. It will allow a leaner new company to emerge in a matter of 30 to 60 days, well positioned for long-term viability. It’s also very important to note that Chrysler’s Canadian, Mexican and other international operations are not part of any bankruptcy filing.
The substantial majority of Chrysler’s assets, operations, plants and people will be transferred to the new company, while assets and liabilities that are not consistent with our business plan will remain with the old company for disposition. Under the supervision of the court, and with the cooperation of the U.S. Treasury, the new company will quickly emerge from bankruptcy as a restructured and financially healthy organization. The old company and its remaining assets will proceed through a Chapter 11 process during which these assets may be sold or otherwise liquidated. Chrysler is in the process of identifying and finalizing the list of assets that will be disposed of through this process. Once this is complete and we are asked to share it with the court, we also will share it with you.
Chrysler also will file “First Day” motions with the court, seeking relief to honor obligations to pay employees, suppliers and dealers as an essential component of preserving the value of our business in the time period pending the sale. We expect to receive approval for these motions within the next few days, and we will provide you with regular updates.
During the restructuring process, the government will provide sufficient debtor-in-possession (DIP) financing to allow continuation of “business as usual.” The company will seamlessly honor warranty claims, pay suppliers and keep our dealer body operating to continue to serve our valued customers.
Throughout this time, Chrysler and our dealers will continue to sell and service all vehicles and honor warranties. We will continue to supply parts to our dealers to ensure that vehicles can be serviced without delay. We are committed to serving our customers throughout this process and to producing quality vehicles over the long term under the Jeep®, Dodge, and Chrysler brands, as well as parts under the Mopar® brand. As part of the restructuring and with the backing of the U.S. Treasury, we have reached an agreement in principle with GMAC to become the preferred lender for Chrysler dealer and consumer business. This is very good news as GMAC will be able to offer the best long-term finance options for Chrysler dealers and customers with standard rate installment products.
As a part of the restructuring, most manufacturing operations will be temporarily idled effective Monday, May 4, 2009. Normal production schedules will resume when the transaction is completed, which is anticipated within the next 30 to 60 days. Hourly employees will receive unemployment benefits, as well as supplemental pay that will amount to most of their base wages.
Keep in mind that during the period when facilities are idled, all company-sponsored healthcare and other insurance coverage will continue. All qualified employee pension and 401(k) funds are protected by federal law from Chrysler’s creditors; these funds cannot be used by the company to meet any other obligations. Upon approval of the transaction, the new company is expected to continue relationships with most employees, dealers and suppliers.
There is no question that this process involves deep sacrifices from many Chrysler stakeholders, including the UAW and CAW, employees, dealers and suppliers. We also want to recognize the Administration, U.S. Treasury, The President’s Auto Task Force, as well as Members of Congress and representatives at the state and community level and Canadian Federal and Ontario Provincial governments for their energy and efforts in helping to move our company forward. With the strong support of the Cerberus and Daimler, these stakeholders came together to make concessions that today give us a clear view of a promising future. To be sure, there will be many changes as we move forward to implement our plans. But today, from many great parts, we begin to build a vibrant new company with less debt, a stronger balance sheet, richer product portfolio, supported by a well-positioned finance company.
We understand that you will have many questions throughout this transition process. Further information will be available on a continuing basis at scoop.chrysler.com, EPIQ Systems - Select a Client, or by calling our toll-free restructuring information line at 1-877-271-1568 (United States and Canada) or 1-503-597-7708 (International). These sources will be updated regularly to address your ongoing questions.
We are profoundly grateful for the support of the thousands of people across the United States and worldwide who have contributed to our effort to restructure for long-term viability. We take enormous pride in the contributions we have made to our industry, are honored by the trust our customers have placed with us for more than 80 years and look forward to continuing to serve them for many years to come.
Again, I thank you for your years of service and commitment to Chrysler LLC and look forward to working with you through the restructuring to build a stronger new company for the twenty-first century.
Bob
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One of a kind custom turbocharged 2004 Chrysler Sebring LX Sedan
.:CarDomain:.
13.5 @ 102mph
Don't let the door hit your ass on the way out Bob.
All in all, good news. Now they have no choice but to succeed, or fail rather dramatically. They've been limping on cruise control for too long.
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"This car is 100% sh*ts and giggles."A car can be a tool but it can also be so much more. It can be a heart-starter, it can be a drug, it can be a piece of art and it can stir your soul.
"Speed has never killed anyone. Suddenly becoming stationary... that's what gets you." Jeremy Clarkson
From what I understand, this is going to be a precise surgical bankruptcy to cut out the jack@$$ creditors (hedge funds) debt, but it screws over the banks who agreed to the debt reductions, they probably aren't going to be happy about this.
Either way it is disappointing, I understand the 'limp mode' but this doesn't get Chrysler out of the woods yet, a LOT is riding on the ability of the new partnership with Fiat to develop some decent 35/40 mpg cars, something that Chrysler is missing right now. I am just glad that, so far, there is going to be no selling off of the pieces... yet.
From what I understand, this is going to be a precise surgical bankruptcy to cut out the jack@$$ creditors (hedge funds) debt, but it screws over the banks who agreed to the debt reductions, they probably aren't going to be happy about this.
Either way it is disappointing, I understand the 'limp mode' but this doesn't get Chrysler out of the woods yet, a LOT is riding on the ability of the new partnership with Fiat to develop some decent 35/40 mpg cars, something that Chrysler is missing right now. I am just glad that, so far, there is going to be no selling off of the pieces... yet.
Yea, I really hope Chrysler comes out a much stronger company with a vehicle line up that is appealing.
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