New Chrysler NSFWd Without Old Tools
Chrysler Group LLC, the company built out of the alleged morsels of the old Chrysler has a problem: In order to make new cars it needs to have the old tools. A lot of those tools are at parts makers who are sitting on unpaid bills, old bankrupt Chrysler stuck them with. Payback for unpaid bills being a bitch, the parts makers don’t want to give up the tools.
New Chrysler may need mediation and extra money “to resolve disputes over access to tools, Frank Oswald, a Chrysler lawyer from Togut, Segal & Segal LLP, told U.S. Bankruptcy Judge Arthur Gonzalez in Manhattan,” reports Bloomberg.
“We don’t want to have a situation where, after rushing to get the sale closed in 42 days, Newco is unable to start up production because we don’t have necessary parts,” Oswald said.
There are about 70 unresolved cases. Even one missing part can hold up production for a long time. Oswald said lawsuits may need to be filed “to the extent that there are recalcitrant suppliers.” Good luck with that, that can take a while.
Bertel Schmitt comes back to journalism after taking a 35 year break in advertising and marketing. He ran and owned advertising agencies in Duesseldorf, Germany, and New York City. Volkswagen A.G. was Bertel's most important corporate account. Schmitt's advertising and marketing career touched many corners of the industry with a special focus on automotive products and services. Since 2004, he lives in Japan and China with his wife <a href="http://www.tomokoandbertel.com"> Tomoko </a>. Bertel Schmitt is a founding board member of the <a href="http://www.offshoresuperseries.com"> Offshore Super Series </a>, an American offshore powerboat racing organization. He is co-owner of the racing team Typhoon.
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