THANK YOU AMERICA!!! Chrysler Gets $4 Billion Loan In U.S. Bailout
source: http://www.whiterabbitcult.com/thank-you-america-chrysler-gets-4-billion-loan-in-us-bailout/
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- webgrafix
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DETROIT — Chrysler LLC received its $4 billion low-interest federal loan Friday, helping the auto maker continue funding its operations.
“This initial loan will allow the company to continue an orderly restructuring, while pursuing our vision to build the fuel-efficient, high-quality cars and trucks people want to buy,” said Chairman and Chief Executive Robert Nardelli in a statement.
Undisclosed issues in Chrysler’s application process slowed the payout, which was slated to be made by the end of December. General Motors Corp. received a loan payment of $4 billion on Wednesday and is scheduled to receive more money during the next two months.
Chrysler has been hurt more than GM and Ford Motor Co. by the U.S. recession because it relies on North America for about 90% of its sales. Tight credit and a weak economy are keeping consumers away from showrooms.
Chrysler’s majority owner, Cerberus Capital Management LP, is interested in finding a partner for Chrysler.
“This initial loan will allow the company to continue an orderly restructuring, while pursuing our vision to build the fuel-efficient, high-quality cars and trucks people want to buy,” said Chairman and Chief Executive Robert Nardelli in a statement.
Undisclosed issues in Chrysler’s application process slowed the payout, which was slated to be made by the end of December. General Motors Corp. received a loan payment of $4 billion on Wednesday and is scheduled to receive more money during the next two months.
Chrysler has been hurt more than GM and Ford Motor Co. by the U.S. recession because it relies on North America for about 90% of its sales. Tight credit and a weak economy are keeping consumers away from showrooms.
Chrysler’s majority owner, Cerberus Capital Management LP, is interested in finding a partner for Chrysler.
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donkeyfly69
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and our dollar is worth less...
and less...
and less...
and less...
...
- 3 years ago
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donkeyfly69
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dfillingham
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I think they should have gone Chapter 11, no cost to the tax payer, and then the management would be kicked out and replaced with people that can understand the future which is electric cars, green energy, and jobs galore for all this.
The Us has given to the investment banks over $1 Trillion dollars, with no accounting for even a cent. The Bush Govt policies have really been a disaster all around.
- 3 years ago
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dfillingham
