Nardelli: Chrysler needs $3 billion more and is not looking for a merger

Posted: Jan 13, 2009
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Last we heard anything on Chrysler and GM merger talks, it was reported that Chrysler LLC’s owner Cerberus Capital Management had restarted talks for the two Detroit automakers to join forces. Speaking at the 2009 Detroit Auto Show, Chrysler CEO Bob Nardelli said that the company is not looking for any buyers or mergers and is looking to get another $3 billion in loans from the government.

The additional $3 billion will be a part of the $7 billion that Chrysler initially asked for from Congress to keep itself in business through 2012.

Nardelli said that merger talks with General Motors are now officially off. He said that Chrysler is looking for alliances similar to the ones it has with Nissan and Volkswagen.

Chrysler is currently operation on $4 billion in loans recently handed over by the U.S. Treasury. Nardelli said that Chrysler can begin repaying the loan by 2012.

Source: Detroit Free Press


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  • Pat

    i don't know why but just looking at Nardelli gets me angered. He's really going to take Chrysler all the way down… he has no knowledge of the auto industry… hell bobmarley or zermatt would make better CEOs of Chrysler

  • Ivan Gutierrez

    What about me?!

  • neil

    I would take the job but not for the $1 salary!!!!!

  • zermatt

    Me as CEO of Chrysler?

    Pat, there is no way that I can do that. I couldn't live in the greater Detroit area and I don't think they would let me work from home.

    We should give IvanGutierrez a chance.

  • Ivan Gutierrez

    Thank You. At least someone here sees my potential for Chief Executive Positions.

  • Bobmarley

    Nardelli's looks make me angry too, he looks like he needs some of my smooth Kingston ganja ;) and a retirement home.

  • Bobmarley

    Nardelli's looks make me angry too, he looks like he needs some of my smooth Kingston ganja ;) and a retirement home.