LAST AUTO NEWS – CHRYSLER MAY NOT GET THE AID IT REQUESTED
Last Auto News –
The Los Angeles Times reports, “Chrysler is absurd to get and may not charge $5 billion in added U.S. aid by March 31 to avoid off bankruptcy, an Obama administering official said Tuesday.” The official, “who asked not to be called because the deliberations are private,” said that “further talks will be captivated to appraise the company’s banking position..
The New York Times explains, “Chrysler’s adapted restructuring plan, filed Feb. 17 with the Treasury Department, asserts that, if it receives an added loan, it can balance its affairs and abound above its amount North American market. President Obama’s assignment force is now belief that argument.”
Chrysler CEO Bob Nardelli may not accede that the aid isn’t needed. He told the AP, “it’s acute that Chrysler get some affectionate of an adumbration by March 31 as to if its appeal for $5 billion in federal aid will be granted, abacus that the abnegation of the aid would be ‘devastating’ for the automaker.” During an actualization on cable arrangement CNBC, Nardelli “said that the assignment force hasn’t told him that a defalcation aegis filing at Chrysler is out of the question.”
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