Chrysler CEO Apologies For Loan Remarks

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.


Leave a Reply

Fill in your details below or click an icon to log in:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS Detroit

Best Fall Festivals In Metro DetroitFrom music to art to special events, there's a little something for everyone's delight.
Best 4th Of July Concerts In Metro DetroitStaying home this weekend? Celebrate the 4th of July by rocking out at one of these shows.

Watch & Listen