Covidien closes sale of sleep diagnostic assets to Embla SystemsSeptember 21st, 2009 Covidien closes sale of sleep productsNEW YORK — Medical device maker Covidien said Monday it completed the sale of its sleep diagnostics assets to Embla Systems. Financial details of the previously announced deal were undisclosed.
Chrysler to resume leasing in hopes of raising sales, but deals won't be as good as pastSeptember 16th, 2009 Chrysler to resume leasing after 1-year breakDETROIT — Chrysler Group LLC says it will return to leasing vehicles after a yearlong hiatus. The automaker says it will offer lease options on all 2010 Chrysler, Dodge and Jeep vehicles.
Sonus Networks to cut more jobs as restructuring activities wind downAugust 13th, 2009 Sonus Networks to lay off 10 percent of workforceWESTFORD, Mass. — Sonus Networks Inc.
Chrysler Financial repays $1.5 billion in TARP loansJuly 14th, 2009 Chrysler Financial pays off $1.5B in TARP loansFARMINGTON HILLS, Mich. — Chrysler Financial, the former financing arm of automaker Chrysler LLC, said Tuesday that it has repaid in full its $1.5 billion in government loans.
Chrysler Financial to eliminate 9 percent of work force, closes service centerJuly 1st, 2009 Chrysler Financial to cut 9 percent of work forceDETROIT — Chrysler's former financial arm said Tuesday that it will reduce its work force by about 9 percent, or more than 300 employees, as it restructures operations after losing its preferred lender status with the automaker. GMAC Financial Services is now Chrysler's leading lender for financing Chrysler vehicle purchases and dealer inventories, a move prompted by President Barack Obama's auto task force.
GM makes huge dealer cuts, follows move by ChryslerMay 15th, 2009 WASHINGTON - General Motors Corp, the US auto giant nearing bankruptcy, Friday announced massive cuts in its dealership network as part of a drastic effort to cut costs and survive the global recession. GM, the largest US carmaker, has informed 1,100 of its nearly 6,000 dealers that their contracts would not be renewed.
Judge approves agreement to make GMAC preferred lender for Chrysler dealers and customersMay 12th, 2009 Judge OKs deal to make GMAC top Chrysler lenderNEW YORK — A bankruptcy judge says GMAC can become Chrysler's preferred lender. Pending the completion of certain documentation, U.S.
Judge to consider motion for GMAC to take over Chrysler vehicle loansMay 11th, 2009 Chrysler to ask judge to approve GMAC agreementNEW YORK — Chrysler LLC will ask a bankruptcy judge on Tuesday to allow General Motors Corp's lending arm to take over making auto loans for Chrysler's customers and dealers. Chrysler two weeks ago said its lending arm, Chrysler Financial, would no longer provide vehicle financing.
Chrysler Financial to immediately stop dealer wholesale financingMay 2nd, 2009 Chrysler Financial to suspend dealer financingFARMINGTON, Mich. — Chrysler Financial says it's temporarily suspending financing for Chrysler dealers effective immediately.
Chrysler plans to temporarily shutdown most plants until Fiat deal closesApril 30th, 2009 Chrysler to idle plants until Fiat deal doneNEW YORK — Chrysler says it will temporarily stop most of its vehicle production until its deal with Italy's Fiat is complete. The shutdown is effective Monday and could last up to two months.
UAW overwhelmingly ratifies Chrysler settlement, Fiat commits to make small car at US plantApril 30th, 2009 UAW overwhelmingly ratifies Chrysler settlementDETROIT — Members of the United Auto Workers have overwhelmingly ratified a settlement deal with Chrysler on Wednesday night. The UAW says 82 percent of production workers and 80 percent of skilled-trades workers voted for the agreement in balloting that took place at UAW Chrysler locations throughout the U.S.
British Telephones to shed 10,000 more jobs: ReportApril 12th, 2009 LONDON - British telecom giant BT is planning to shed a further 10,000 posts from its workforce, according to newspaper reports Sunday. The job cuts come on top of around 10,000 jobs already culled, mainly among contract and temporary workers.
Chrysler gives ultimatum, threatens to pull out of CanadaMarch 12th, 2009 TORONTO - Chrysler Wednesday threatened to pull out of Canada unless the Canadian government gives it billions of dollars in loans and allows tax concessions and workers take wage cuts. With three plants in Canada, Chrysler is the second largest auto seller in the country after General Motors.
Chrysler cuts 1,200 more jobs at its main Canadian plantMarch 5th, 2009 TORONTO - Auto giant Chrysler cut 1,200 more Canadian jobs Wednesday at its Windsor plant near Detroit amid plunging sales. The auto maker, which is surviving on government loans, said it plans to axe an entire shift of 1,200 workers at the plant from June as demand for its minivans, including Dodge Caravan, shrinks.
GM, Chrysler ask for $21.6 bn more, plan to cut 50,000 jobsFebruary 17th, 2009 WASHINGTON - US auto giants General Motors and Chrysler LLC have told the government they could need an additional $21.6 billion in federal loans between them because of worsening demands for cars and trucks. Presenting their updated turnaround plans by the government set Tuesday deadline, the two firms also detailed plans to cut 50,000 jobs worldwide by the end of the year.
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