Lee Iacocca, the former chairman and CEO of Chrysler Corp. whose name is synonymous with the Auburn Hills carmaker, wants Italian management to know he approves of the new Chrysler Group LLC.
Iacocca’s endorsement prompted him to become honorary chairman of the National Chrysler Retirement Association and to co-author a welcome letter to Sergio Marchionne, the Fiat SpA CEO who is now running Chrysler as well.
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Reuters news service reported that Cerberus Capital has received numerous bids for it’s Viper brand of automotible. Belonging to the Dodge Brand, the Viper was introduced in 1992 as a flagship model sportscar. Production numbers have been limited with several special edition models added to the mix.
Chrysler LLC has decided to offer up it’s Viper unit sometime in August, when a few parties became interested. This is a result to raise cash for ongoing operations as the automotive industry is entering a deep slowdown across the board.
