Chrysler CEO Apologies For Loan Remarks
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AUBURN HILLS (WWJ) – Chrysler’s CEO apologized Saturday for the way he described the interest rates the U.S. and Canadian governments are charging on the bailouts his company received in 2008 and 2009.
Speaking during an automotive conference in San Francisco, Sergio Marchionne called the interest rates a “thorn” in his side and said that refinancing the two loans would mean no longer having to explain the “shyster rates.”
In a statement posted at the center of Chrysler’s home page, Marchionne said he regrets the term he used and considers it “inappropriate”.
Marchionne said Chrysler remains grateful for the bailouts and noted that no other parties were willing to assist in Chrysler’s recovery.