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Jeep hiring 1,000 part-time workers in Toledo on Wrangler, Cherokee demand

The new Jeep Cherokee has been quite a success for Chrysler, but its factory workers are getting tired. The automaker has agreed to hire up to 1,000 part-time, temporary employees at its Toledo Assembly Complex where the CUV and Wrangler are built. It will allow the company to keep Jeep production moving, while giving laborers a break.
According to plant manager Chuck Padden in the Toledo Blade, full-time workers are regularly taking on 60 hours a week, and it's beginning to wear on them. "To get them more time off is important to us, to make sure they're refreshed, and can work safely," said Padden.
Chrysler has already hired 380 temporary, part-time workers for the plant, and 50 have been converted to full-time employees. The company is in the process of interviewing the rest of the new hires now and plans to have all 1,000 in place by the summer. They will work between 10 and 30 hours a week mostly on weekends for $15.78 per hour with limited benefits. The temporary positions will last "as long as demand continues for the Jeep Wrangler and the Jeep Cherokee," said Jodi Tinson, Chrysler spokesperson for manufacturing and labor communications, to Autoblog in an email.

Fiat talking with banks about buying rest of Chrysler

All that stands in the way of Fiat's total ownership of Chrysler is a 41.5-percent stake currently held by the United Auto Workers healthcare trust, but according to SFGate.com, Sergio Marchionne is currently trying to raise the capital to complete the acquisition. The article says that a deal could be completed in as soon as 12 months, and the estimate for the remaining stake could cost Fiat SpA around $2.98 billion.
With a goal of completing the deal by the end of 2014, Marchionne is said to be in talks with various banks to help finance some of the deal. According to the report, the banks have indicated a need for a stronger balance sheet, controlled debt and reserve cash.
Two things that don't seem to be on the table to get the deal completed include issuing new shares to raise the capital or selling a stake in Ferrari. Fiat started with a 20 percent share of Chrysler in June 2009, and it raised its stake up to 58.5 percent in January 2012.

Chrysler reports $166M net income for Q1, down $307M vs. 2012

Preliminary first-quarter results from 2013 have been announced by Chrysler, and the company is reporting a net income of $166 million on revenue of $15.4 billion. Compared to this period last year, net income is down $307 million and revenue has dropped $1 billion.
Chrysler says that its quarter was negatively affected by the costs associated with launching its 2013 Ram Heavy Duty, 2014 Jeep Grand Cherokee and preparation for the return of the all-new 2014 Jeep Cherokee pictured above. The launches should provide a strong second half of 2013, says the automaker. "We remain on track to achieve our business targets, even as the first-quarter results were affected by an aggressive product launch schedule," said Chrysler Group LLC Chairman and CEO Sergio Marchionne.
On a positive note, the automaker says worldwide vehicle sales are up 8 percent from one year ago, a number pushed by a 12 percent bump in U.S. retail sales. In addition, domestic market share has risen slightly, up to 11.4 percent from 11.2 percent last year. Read more in the official statement below.