January 2, 2014 |
Italian automaker Fiat plans to take full control of Chrysler Group by buying out the shares held by a United Auto Workers union-controlled trust fund. The union and Fiat reached a deal on New Year's Day for the automaker to acquire the 41.5% of Chrysler's shares that were held by the UAW Retiree Medical Benefits Trust. Fiat already acquired the rest of Chrysler's shares through a deal launched during the bankruptcy restructuring of the Auburn Hills, Mich., automaker in 2009.
November 29, 2013 |
AUBURN HILLS, Mich. - This was how unexpected the Lakers' season became: Nick Young took a game-saving charge. Really. Known much more for his streaky, high-volume shooting, Young drew a charge on Josh Smith with 1.9 seconds left and the Lakers snared a 106-102 victory Friday over the Detroit Pistons at the Palace. Young, as jovial of a player as can be found in the NBA, downplayed it afterward. "I'm the defensive player of the year now," he said excitedly in the locker room.
September 23, 2013 |
Chrysler Group filed plans Monday to resume trading its shares on the stock market, part of a high-stakes game its parent company, Fiat, is playing against a big union trust. The stock sale would not be a normal initial public offering, in which a company sells it shares to raise money for its operation or to cash out the founders. Rather, a portion of the automaker, based in Auburn Hills, Mich., would be sold by the UAW Retiree Medical Benefits Trust. The union wants to start to monetize the 41.5% of Chrysler that it acquired during the automaker's bankruptcy and restructuring four years ago. The trust provides medical coverage for about 115,000 retired Chrysler workers and their families.
July 11, 2013 |
Back when Metta World Peace was still named Ron Artest, the always-interesting forward helped the Lakers defeat the rival Boston Celtics with a big Game 7. World Peace scored 20 points on seven-for-18 shooting, including a huge three-pointer with 1:01 left in the 2010 NBA Finals to help cement the win that clinched the Lakers' most recent championship. His postgame news conference was an all-time classic. His play with the Lakers through four seasons wasn't always consistent but World Peace was a locker-room favorite among teammates and the media.
June 19, 2013 |
Less than a day after announcing a massive recall of 1.56 million Jeeps, Chrysler again struck a defiant tone, saying that the trailer hitches it agreed to install won't protect motorists in high speed crashes and that the recalled vehicles are not, in fact, defective. In two letters submitted late Tuesday to the National Highway Traffic Safety Administration, the nation's third-largest automaker said it would continue to deny NHTSA's request to recall vehicles prone to fires after high-speed rear-end collisions.
June 18, 2013 |
Two weeks after defiantly refusing a government request to recall 2.7 million Jeeps prone to dangerous fires in rear-end collisions, Chrysler has reversed course and agreed to repair many of the vehicles. The move helps the automaker avoid what could have been a drawn-out showdown with the National Highway Traffic Safety Administration. But by choosing to blink in a high-stakes game of chicken, Chrysler may in fact come out the big winner. That's because the proposed repair - installing low-cost trailer hitches - could prove far less expensive than other potential remedies.