I heard on CBS radio news yesterday and it is intimated in a couple of the links, this is going to be far worse than the DaimlerSh!t merger. I was for a partnership up until yesterday. FIAT is going to own Chrysler, lock, stock and barrel. Obama has ordered (per CBS news) the removal of all Chrysler executives and the placement of all FIAT management. I am really apprehensive about the future of Chrysler now. A couple of banks forced them into bankruptcy and now Chrysler no longer controls its' destiny, FIAT does. This may be a total disaster for Chrysler. because FIAT can do whatever they want because Chrysler will be a wholly owned subsidiary of FIAT. I though FIAT could inject some much needed new products, with Chryslers core products anchoring the company. Now FIAT will dictate all product development and continuity. This may get very, very bad.

 

The UAW owns 55% so Fiat has a minority say.

 

I hope that's the case, but the CBS news report stated that FIAT "will have a controlling interest in Chrysler with a 55% stake in the American auto giant". I replayed the hourly news update from CBS radio and wrote the quote verbatim. They say that FIAT will OWN Chrysler outright.

 

This is what Obama said and this quote is from a Chrysler FAQ
Q2: What is the ownership structure of the new company?
A2: When the transaction is completed, the Voluntary Employee Beneficiary
Association (VEBA) will own 55 percent of the new company and the U.S.
and Canadian governments will own proportionate shares of a 10 percent
stake. Fiat will initially own a 20 percent stake in Chrysler. Fiat will have
the right to increase its ownership stake an additional 15 percent in three
increments as it meets the following criteria: 5 percent for bringing a 40
mpg vehicle platform to Chrysler to be produced in the U.S.; 5 percent for
providing a fuel-efficient engine family to be produced in the U.S. for use
in Chrysler vehicles; and 5 percent for providing Chrysler access to its
vast global distribution network to facilitate the export of Chrysler vehicles.
Fiat cannot become a majority owner until all U.S. government loans have
been completely repaid

http://www.chryslerrestructuring.com..._Customers.pdf

 

Well, that's good news.

 

I dug this up this morning.... I have the Chrysler bumber to bumber Lifetime Warranty

First off I went to the company site, on warranty info;

http://www.dodge.com/en/service_contracts

Put in your VIN, name and milage to get specifics on your warranty, this is what I received;

If you need additional help or assistance with your Chrysler Service Contract, please contact us toll-free Monday through Friday from 8:00 a.m. to 5:00 p.m. EDT

1-800-521-9922 (in the U.S.)1-800-465-2001 (in Canada)

Contract Summary for **my name**
Contract Number **contract #**
VIN Number *****************
Description LIFETIME MAX CARE - $100 DED
Expires on 1991-04-22 or 999999 miles
Start Date 2008-01-23
Deductible Per Repair $100.00
Towing Coverage $100 Roadside Assist 800-521-2779
Rental Car Allowance $35.00 per day for a maximum of $175.00

So I called the 800 # and was given this website and downloaded the following letter from customer answers;

http://chryslerrestructuring.com

April 30, 2009
Dear Customer,
I am very pleased to announce that Chrysler LLC has signed an agreement in principle to
establish a global strategic alliance with Fiat to create a vibrant new car company.
For the past several months, we have worked tirelessly to reach agreement with key
stakeholders on concessions that would allow Chrysler to complete this alliance with Fiat and
proceed with its plans without the need for a bankruptcy proceeding. Despite substantial
progress on many fronts, the support of the U.S. and Canadian governments, and agreements
with most parties, including our unions, dealers and suppliers, it was not possible to obtain the
necessary concessions from all of our lenders. As a result, to facilitate this alliance with Fiat
and to create a new company, Chrysler filed voluntary petitions for a structured bankruptcy
under Chapter 11 of the U.S. Bankruptcy Code in U.S. Bankruptcy Court for the Southern
District of New York.
Here’s what is meant by a “structured” bankruptcy: With this filing, we will also submit a motion
under Section 363 of the Bankruptcy Code, requesting the swift approval by the Court of the
agreement with Fiat and the sale of Chrysler’s principal assets to a new company. With the
approval of the Court, a new stronger Chrysler will be out of bankruptcy in 30 to 60 days.
Rest assured that there will be not be a moment’s interruption in our work to meet the needs of
all our customers. The company will seamlessly honor all warranty claims and service
contracts. Chrysler will continue to produce and support quality vehicles over the long term,
under the Chrysler Jeep® and Dodge brands and parts under the Mopar brand.
Some may be wondering if purchasing a Chrysler vehicle now is a wise investment. Beginning
today, Chrysler can look forward to its future with great optimism. In most cases your local
Chrysler, Jeep and Dodge dealer has vehicles to sell that are well priced and with attractive
customer incentives. Your local dealer would welcome the opportunity to speak with you about
today’s products, which have the highest quality rankings of any in our history.
We are profoundly grateful for the support of the millions of owners of Chrysler vehicles. We
take enormous pride in the contributions we have made to our industry, are honored by the trust
you have placed with us for over 80 years, and look forward to continuing to serve you for many
years to come.
Again, I thank you for your support and look forward to serving you with outstanding products
and service from a strong new Chrysler.
Sincerely,
Bob Nardelli
Chairman and CEO
Chrysler LLC

With all the other info I have seen so far I'm sitting OK - FOR NOW - don't let the negative people bring anyone down - YET

 

Thankyou for the very informative and encogreing post TimmerDuder i just may be able to get a good nights sleep since i own two extended Warrenties one on my Dodge Van and the outher on my PT Crusier.
My Dodge garage did set me up with an appointment to get my slideing door fixed this Thursday because the got the new straps that were just sent out a few weeks ago.
Have great week everyone.

 

lol i love my little PT Crusier aybe it's because i have a Ford F-250 Crew Cab with a V-10 gas engine and a standard 6 speed tranny,the thing is a monster when i attach the Boss snow plow to it or a 20 foot trailer for hauling coal.
The only outher vehicle is my Dodge Grand Cravan so i love hearing the PT Cursiers Turbo open up and it does'nt cost me a fortune to drive.
I feel better ow knowing Chrysler is going to honor any and all warrenties extended or outherwise.


https://dodgeforum.com/forum/brand-n...ankrupt-5.html