Chrysler's Response to Fiat's Comments Regarding: Unions - VIDEO ENHANCED

EDITOR'S NOTE: It looks increasingly like Chrysler is moving towards the end of their lifeline. It's especially a shame because of the announced intentions of the company, as voiced by Jim Press during his presentation at the Western Automotive Journalists meeting last September. It really sounded like Chrysler had a workable strategy for their place in the auto world. Ironically, it was just a couple weeks later that Chrysler, along with GM and Ford, revealed just how dire their financial was situation.

Jim Press's complete presentation at WAJ can be watched by CLICKING HERE.

AUBURN HILLS, MI - April 16, 2009: As outlined in Chrysler LLC's February 17th submission, the Company has been and remains committed to working with the Administration, U.S. Treasury and the Presidential Auto Task Force to secure the support of the necessary stakeholders. As a requirement of Chrysler’s loan agreement, the UAW must agree to a 50 percent reduction in its VEBA and match the transplants hourly labor costs in the U.S. The Canadian Government has taken a similar position, as it relates to the CAW. All parties have complete understanding that Chrysler must achieve the necessary concessions and restructuring targets that have been established. As it moves through this process, the Company believes it is important to keep all options open but Chrysler’s goal is to reach a conclusion by April 30 that the Government deems viable, given the guidelines that have been set.