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
Mitsubishi Motors Corp. v. Soler Chrysler-Plymouth, Inc. Franchise Contract Arbitration Fairness Act, which prohibited mandatory predispute arbitration clauses in motor vehicle dealership franchise agreements. President George W. Bush signed it into law, the first time a specific exception to the FAA had been legislated since the Court began expanding its scope. In 1979 Soler was incorporated in San Juan, Puerto Rico, and became a Chrysler-Plymouth dealer, doing business in the Pueblo Viejo district of the nearby suburb of Guaynabo. It and Mitsubishi Motors, a joint venture of Chrysler and Mitsubishi Heavy Industries, incorporated in Geneva, Switzerland, concluded two separate agreements to this effect: a distributor agreement with