IT'S BEEN A RIDE

Key dates in Chrysler's transition under Cerberus

2007:
Feb. 14: DaimlerChrysler AG announces a restructuring plan that includes cutting 13,000 Chrysler workers and says it won't rule out "any option," including Chrysler's sale.
April 5: Billionaire investor Kirk Kerkorian's Tracinda Corp. makes a $4.5 billion cash offer for Chrysler.
May 14: DaimlerChrysler announces the end of nine-year partnership with Chrysler and agrees to sell 80.1 percent of Chrysler to private equity firm Cerberus Capital Management LP for $7.4 billion.
July 20: The United Auto Workers union and Chrysler officially begin negotiations on a new four-year contract.
Aug. 3: Cerberus takes over a majority share of Chrysler.
Aug. 6: Chrysler officially begins its life as a private company. Bob Nardelli, former chief executive of The Home Depot Inc., becomes chairman and CEO. Tom LaSorda, Chrysler's former CEO, takes the No. 2 spot under Nardelli.
Oct. 10: The UAW reaches a tentative agreement with Chrysler after a six-hour nationwide strike. Later, 56 percent of Chrysler production workers vote in favor of the four-year deal.
Nov. 1: Chrysler says it will cut 8,500 to 10,000 hourly jobs and 2,100 salaried jobs through 2008, or about 15 percent of its work force, in addition to the 13,000 layoffs announced in February.
Early December: Nardelli tells employees that the company is "operationally" bankrupt and expects to lose $1.6 billion for the year.

2008:
Jan. 11: Chrysler and Nissan Motor Co. agree to have Nissan supply a subcompact car to Chrysler that will go on sale in South America in 2009.
Jan. 22: Cerberus founder Stephen Feinberg writes a letter to investors saying Chrysler is beating its earnings estimates but the "investment is by no means without serious risks."
Jan. 28: Chrysler begins offering buyouts of up to $100,000 to hourly workers as part of its goal of cut up to half its hourly work force.
Feb. 8: Chrysler says it plans to reduce its product lineup by as much as half and cut dealerships.
April 15: Chrysler says it will make a new full-size pickup for Nissan Motor Co. and Nissan will make a new small car for Chrysler. The small car is scheduled to go on sale in 2010, the pickup in 2011.
June 10: Nardelli says he expects Chrysler will be an independent company three years from now, and that Cerberus isn't second-guessing its investment.
June 26: Chrysler denies it plans to file for bankruptcy protection after Chrysler exercises a $2 billion line of credit from Cerberus and Daimler.
June 30: Chrysler says it will close a minivan plant in St. Louis and cut a shift from a nearby plant because of declining U.S. sales, affecting 2,400 jobs.
July 4: Chrysler announces a deal with China's Great Wall Motor Co. to study sharing technology, components and distribution.
July 23: Chrysler says it will cut 1,000 salaried jobs by Sept. 30 because of the industry slump.
July 25: Chrysler announces that its financial arm will get out of the auto leasing business because economic conditions have made it more expensive than buying vehicles.
harold zeigler