Chrysler deal heralds new direction for Detroit: Cerberus takes gamble on union concessions; GM, Ford may benefit
Article Abstract:
Investment company Cerberus Capital Management LP has acquired 80.1% of Chrysler Group, the American unit of German automobile manufacturer DaimlerChrysler AG. Cerberus will work with the United Automobile Workers union to restructure approximately $18 bil in health care and retirement benefits.
Publisher: Dow Jones Publishing Co. (Europe)
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2007
Acquisitions & mergers, Investment Offices, Investment Companies, Open-End Investment Funds, Investment Funds & Trusts, TRANSPORTATION EQUIPMENT, Germany, Mergers, acquisitions and divestments, Company acquisition/merger, Transportation equipment industry, United Automobile Workers, Daimler AG, Chrysler L.L.C., Cerberus Capital Management L.P.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2007
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GM, amid industry overhaul, cuts health benefits for retirees
Article Abstract:
General Motors Corp. of the United States is considering slashing health insurance for retirees and selling a stake in its financing company amidst restructuring. The automobile interest posted a third quarter loss of $1.63 billion.
Publisher: Dow Jones Publishing Co. (Europe)
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2005
United States, Sales, profits & dividends, General Motors Corp., GM, Company sales and earnings, Company earnings/profit, Company Profile
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2005
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Comment about this article or add new information about this topic:
Subjects list: United States, Compensation and benefits, Labor relations, Automobile industry
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