Celebrating their 100 days in office today, the Obama administration said that Chrysler and Fiat still have some hurdles to clear in order to move forward with an alliance before the April 30th deadline tomorrow.
“I don’t know if a deal is going to be finished or when a deal might be finished,” White House spokesman Robert Gibbs told reporters.
Gibbs did not say what the obstacles were.
Yesterday, it was announced that the U.S. Treasury has reached a deal with Chrysler’s largest lenders to cancel $6.9 billion in exchange for $2 billion in cash.
“Hurdles still remain, but we remain optimistic and hopeful that something in the next many hours will get done that will provide a pathway for Chrysler’s viability without continued government assistance,” Gibbs said.
– By: Omar Rana