DETROIT (WWJ) – On the day that Chrysler announces it’s going to restructure its government loans, the company’s CEO takes U. S. Treasury Secretary Tim Geithner on a factory tour.
WWJ’ Jeff Gilbert reports from the Chrysler’s Jefferson North plant.
Chrysler CEO Sergio Marchionne says he thanked the Treasury Secretary for the funding and support, which has now become unnecessary, since Chrysler can now get funding from banks.
Two years ago those banks considered Chrysler too risky.
Marchionne says this will help Chrysler’s standing in the public: “There is not a single doubt in my mind that once we manage to repay the U.S. and Canadian governments that the perception of our brands and the perception of this house is going to improve,” says Marchionne.
No discussion about the timing for an initial offering for Chrysler public stock.