With lawmakers drawing closer to a loan deal to save Chrysler and General Motors, Chrysler CEO Bob Nardelli told workers this morning that he is “very encouraged by developments over the weekend.” “While the situation in Washington remains dynamic, I am very encouraged by the developments over the weekend and the growing interest shown by [...]

A compromise pact to provide at least $15 billion in loans to General Motors Corp. and Chrysler LLC could be unveiled within the next 24 hours, Michigan Sen. Carl Levin said Sunday. “I think they’re very close to a deal, I’m very confident there will be a deal, and that will happen within 24 hours,” [...]

On Thursday and  Friday December 4th and 5th from 11am to 12 noon, Chrysler will showcase the Company’s progress in advanced electric vehicle technology on the grounds of the U.S. Capitol with three ENVI vehicle concepts, one for each of its brands — Chrysler, Dodge and Jeep(R). On Thursday, the electric vehicles will be positioned on the North Side [...]

Congress has asked the CEOs of the Detroit 3 automakers for a more detailed plan on December 2nd.  My question is simple: if you were in charge of GM, what changes would you make to show congress that a loan to GM won’t be wasted?  Post your restructuring plan as a comment.

The Bush administration dropped its opposition to using the $700 billion bank bailout fund to provide financing for U.S. automakers after the Senate yesterday failed to approve emergency loans. The administration’s willingness to give short-term help to General Motors Corp. and Chrysler LLC eased the concern of at least some investors that the companies will [...]

Mr. Chairman, members of the Committee, I appreciate this opportunity to address the current economic and financial crisis, the impact it is having on the automotive industry, and the need for immediate action. During the 15 months I’ve been part of Chrysler, and since we’ve emerged as the first privately held American auto company in [...]

We all know that the big three in detroit have been asking congress to back some loans for them.  Now we find out that the bill congress is discussing includes much more for the automakers than previously thought. “We are still hearing back from (automakers). But $25 billion was in our energy bill last year,” [...]