History of Chrysler GMAC for Chrysler, potentially merging two of Detroit's "Big Three" automakers. These talks did not come to fruition, and were discontinued the next month. On October 24, 2008, Chrysler announced a 25% cut (5,000 jobs) in its salaried and contract workforce in November 2008. Michigan Gov. Jennifer Granholm announced that she, along with 5 other governors, sent a letter to Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke requesting emergency funding for the Detroit Big Three Automakers. On the same day, General Motors asked the Treasury Department of the United States for $10 billion to help restructure both
Diamond-Star Motors included the Mitsubishi Mirage/Eagle Summit sedans, the Mitsubishi Galant, the Dodge Avenger Coupe/Chrysler Sebring Coupe, and the Dodge Stratus Coupe. Initially Diamond-Star Motors was a 50-50 joint venture between Chrysler and Mitsubishi. However, in 1991 the Japanese company purchased its partner's interest, and thereafter the manufacture of Chrysler vehicles was on a contractual basis. Chrysler sold its equity stake to Mitsubishi in 1993, and Diamond-Star Motors was renamed Mitsubishi Motors Manufacturing America (MMMA) on July 1, 1995. Despite the departure, the two companies have maintained various co-operative manufacturing agreements since and considered all vehicle produced until 1995 as Diamond Star