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Chrysler CEO: We'll pay you back

957 Views 4 Replies 3 Participants Last post by  Houdini
Chrysler CEO Sergio Marchionne said on Tuesday that the federal government will get its money back -- and may even turn a profit -- from its rescue of the Automaker.

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It's happened in the past.... seven years earlier than expected.

I never had a doubt that it was the right thing to do for the auto industry. And would be paid back.
True, there are some major differences. In '79 the government didn't even loan them money, only co-signed for the loans. Still, the treasury ended up $350 million dollars richer after the loans were repaid. It will be interesting to see how much "profit" the taxpayers get this time.

And I think the people that were running the company - Cerberus - are definitely not as smart as Iaccoca, but Marchionne has a history of turning around Fiat. Hopefully that experience translates to having the ability to turn around an American company, in the American market. Time will tell.
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