Examples of Old Chrysler in a sentence
GM and Chrysler sales in 2008 were made by Old GM and Old Chrysler; 2009 sales include sales made by both entities before they filed for bankruptcy as well as sales made by new GM and new Chrysler after bankruptcy.
The Detroit 3 automakers (Old GM, Ford, and Old Chrysler) negotiated contracts with the UAW over the years that expanded benefits for union workers to a level the companies could not sustain when imported vehicles began to take large shares of the U.S. market.
Unlike Old GM and Old Chrysler, neither financing company went through bankruptcy.
The original $4 billion loan made to Chrysler Holding in January 2009 went into default when Old Chrysler filed for bankruptcy.
Old GM and Old Chrysler, in addition to being affected by the downdraft of the recession, were in especially precarious financial positions.
In May 2009, Treasury provided $1.9 billion to Chrysler (Old Chrysler) under a debtor‐in‐possession financing agreement for assistance during its bankruptcy proceeding.
With 91% of U.S. passenger vehicle sales depending upon financial intermediaries to provide loans or leases,2 the auto financing companies’ inability to lend damaged the prospects of Old GM and Old Chrysler pulling out of the slump, particularly because other sources of credit, such as banks and credit unions, were also reluctant to lend due to ongoing financial market disruptions.
The Auto Task Force14 at the Treasury Department, which oversaw restructuring of Old GM (and Old Chrysler), repeatedly said that changing GM’s senior executive corps and the internal corporate culture would be one of the most important steps in Old GM’s transformation to a more competitive company.
In June 2009, a newly formed entity, Chrysler Group LLC (New Chrysler), purchased most of the assets of Old Chrysler under a 363 Sale.
S.D. N.Y. 2009).Unlike Old Chrysler, Old GM did not reject dealer agreements under Section 363 of the Bankruptcy Code.