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Battle Over Chrysler Stake (11/13/12)

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  1. Cancer Society4:06
  2. Barack Obama1:07
  3. vice president3:14
  4. White House officials1:18
  5. breast cancer3:46, 3:56
  6. tax credits2:11
  7. Dayton Ohio3:44
  8. electric vehicles2:04
  9. Automotive News2:58, 3:10
  10. Little League3:29

Tue, 13 Nov 2012|

Fiat, UAW trust battle over Chrysler stake's value | Mulally and 'fiscal cliff' | Tesla wins award | One dealer's journey


Automatically Generated Transcript (may not be 100% accurate)

We'll commit on this Tuesday I'm -- -- and in for Jennifer -- Coming up Ohio dealer Janelle Ross -- walk for cure but first we'll start with today's headlines. Not enough. A UAW retiree health care trust says Fiat must pay it at least 342. Million dollars. If it wants an additional 3.3 percent stake in Chrysler. In court documents filed on Monday. The trust or -- says Fiat to offer of just under 140 million dollars is substantially below fair market value. Fiat which owns 58 point 5% of Chrysler sued the UAW trust in September for failing to sell the shares. As part of its 2009 agreement with the US treasury. Fiat is able to exercise call options to purchase parts of the state held by the trust. Ford's CEO now on the -- is among two dozen business labor and civic leaders slated to meet with president Barack Obama this week. To discuss how to control the federal deficit. Obama was scheduled to meet with labor and civic leaders today. And business executives tomorrow. -- White House officials said the leaders would discuss quote the best ways to move our economy forward. And finely balanced approach to reduce the deficit. Unless the president and lawmakers agree a combination of tax increases and government spending cuts will take effect an early 2013. The so called fiscal cliff would reduce that deficit but potentially harm the US economy. Obama's reelection likely means the US government will continue promoting electric and hybrid vehicles. So says Ilan mosque CEO of electric carmaker Tesla Motors. Mosque telling reporters quote I think that we can expect at least that things will continue as they have. I wouldn't expect it to get any worse for electric vehicles. Hopefully it will get a little better. Must also said he would back any effort to boost federal tax credits for electric cars to as much as 101000 dollars. Tesla model -- costs nearly 70000 dollars at the high and that's after the current 7500 dollar federal tax credit. On Monday the model S was named motor trend magazine's 2013 car of the year. It's the first time in 64 years that in all electric car has won that title. -- to Coker president of the Original Equipment Suppliers Association. Is expected to announce today that he is retiring at the end of 2013. To Coker 69. Launched the association. In 1988. Finally a note for dealers do you want to make your -- better place to work. Find out how at an Automotive News power training webinar this coming Thursday at 11 AM eastern. Worker satisfaction expert Peter Burke will share insights he gained in steering -- last months Automotive News best dealerships to work for event. Dark cars vice president Tammy Darvish will give a front line perspective. For details and to sign up go to auto Slash power train. Auto dealers typically play an active role in their communities from equipping Little League teams to restocking food pantries. But sometimes the good works are more personal we caught up with the dealer who is putting her time and people behind a fund raiser close to her heart. Janelle Ross president -- family owned dealership group in Dayton Ohio had to charity walk for breast cancer. Our our -- Sawyer is who participated in the walk caught up with Ross to find out why this cause is so important. My mother lost her battle with breast cancer after eight years in 2010. So this year in addition to myself personally the Bob Ross out of group has joined the efforts of the American Cancer Society. And helping to raise money which obviously to help arrays are right Aaron has. Four this devastating disease. Ross and her team were among 101000 people who participated in the walk through downtown Dayton. Ross said they created a special logo for this event. We've created logo pink -- driven in honor of my mother so our buildings are outfitted with that logo. -- everything that our team is -- today is this outfit with pink ribbon driven logo. And at this right now we've already raised 33000 dollars for this year's walk. Back in 2010 Ross and her team of thirty raised 121000 dollars and with fifty people -- 23000. In 2011. This year Ross has over 200 walkers. On her team. And that ends our show thanks so much for watching we'll see you back here tomorrow.

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