June 5th, 2011 
admin TOLEDO, Ohio – Fiat’s purchase of the U.S. government’s ownership stake in Chrysler Group LLC resolves one thorny political issue. Another lies ahead: Where to base the combined company.
Work is under way to merge the two into one automaker. Fiat SpA is Italy’s largest employer and a source of …
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Posted in Auto News 
Tags: automaker, chrysler group, combined company, employer, fiat spa, group llc, IPO, issue, ownership stake, post, thorny, way, work 
Comments Off June 5th, 2011 admin The right lane is closed on I-91 southbound near exit 30 after a car crashed into a cement wall on Sunday evening, police said. According to police the crash happened at 5:35 pm and no other cars were involved.
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Posted in Auto News Tags: car, Cars, cement wall, Crash, delays, exit, Hartford, Lane, post, southbound, sunday evening, View Comments Off June 4th, 2011 admin Automaker needs longer track record
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June 4th, 2011 admin Today’s rain washed away the caber toss and the classic cars. But the party in Patterson continues. Organizers of the downtown Graffiti Fest and the Highland Games at Tuolumne River Regional Park called off their events because of the inclement weather.
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Posted in Auto News Tags: caber, caber toss, classic cars, Graffiti, highland games, inclement weather, Organizers, Patterson, post, Today, tuolumne river regional park, View, weather view Comments Off June 4th, 2011 admin DETROIT, June 4 (UPI) — Executives at automaker General Motors are considering a plan to buy company shares from the U.S. government, sources told the Detroit Free Press.
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Posted in Auto News Tags: company shares, Detroit, detroit free press, Free, general motors, government sources, June, post, Press, purchase, stock purchase, UPI, View Comments Off June 3rd, 2011 admin General Motors Co. executives have discussed buying shares from the U.S. Treasury Department to reduce the government’s 33 percent stake in the automaker, three people familiar with the matter said.
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Posted in Auto News Tags: Buying, buying shares, General, general motors, matter, percent, percent stake, post, Stake, treasury department, u s treasury, u s treasury department, View Comments Off June 3rd, 2011 admin The Sheriff’s Office has just received information from Hazmat personnel that the derailed train cars transporting chemicals are not leaking
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Posted in Auto News Tags: chemicals, hazardous materials, Hazmat, information, post, shelby county, Sheriff, Stories, train, train cars, train derails, View Comments Off June 3rd, 2011 admin Washington, D.C., United States (AHN) – US Treasury officials confirmed plans to sell its remaining 6 percent share of US automaker Chrysler Group LLC to Italian automaker Fiat for $500 million, which represents about 98,461 shares of stock.
The sale will give Fiat a majority 52 percent share of the Detroit company whose automotive lines include Jeep. In addition, the sale ends the federal government’s relationship with Chrysler that began with a bailout to rescue the automaker from bankruptcy in 2009.
However, the deal is still expected to leave taxpayers with a $1.3 billion loss.
Chrysler received $12.5 billion in emergency loans from the US Treasury and still briefly entered bankruptcy in 2009, but quickly came out of bankruptcy under management help from Fiat. That resulted in a turnaround for Chrysler, which recorded a $116 million profit in the first quarter of this year.
Fiat is also paying $75 million for the right to buy shares held by the United Auto Workers retiree trust with $60 million of that going to the US Treasury and $15 million going to the Canadian government.
 
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Posted in Auto News Tags: chrysler group, emergency loans, italian automaker, linda young, treasury officials, united auto workers Comments Off June 3rd, 2011 admin Italian automaker buys out US govt
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June 2nd, 2011 admin Washington – U.S. Treasury and Fiat SpA officials are hammering out a deal for the Italian automaker to acquire the government’s final 6.6 percent stake in Chrysler Group LLC for around $500 million, two people briefed on the matter said today.
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Posted in Auto News Tags: chrysler group, Fiat, fiat spa, group, italian automaker, matter, percent, percent stake, post, SpA, Today, Treasury, u s treasury Comments Off
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