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
History of Chrysler one of the Chryslers in question. Chrysler settled out of court with complainants. Chrysler CEO Lee Iacocca sought to minimize damage to the corporation's public image by calling a news conference in which he termed the action "dumb" and "unforgivable". A joint venture with Mitsubishi called Diamond Star Motors strengthened the company's hand in the small car market. Chrysler also acquired American Motors Corporation (AMC) in 1987, for its Jeep brand and much needed production capacity, AMC's Eagle Premier would be the basis for the future Chrysler LH platform sedans. This bolstered the firm's size, but the American Motors purchase