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Politics : Formerly About Advanced Micro Devices

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To: Alighieri who wrote (612617)	5/24/2011 3:30:50 PM
From: tejek	1 Recommendation Read Replies (2) of 1577986

Thanks President Obama. Chrysler said Tuesday that it had paid back $7.6 billion in loans from the American and Canadian governments, marking another significant step in the revival of the company, the smallest of the Detroit automakers. Chrysler said it made payments of $5.9 billion to the United States Treasury and $1.7 billion to Export Development Canada in a series of transactions completed Tuesday morning. The payments retired outstanding loans and covered interest on the debt. Chrysler’s chief executive, Sergio Marchionne, planned to formally announce the move at a ceremony Tuesday afternoon at an assembly plant in Sterling Heights, Mich…. “The loans gave us a rare second chance to demonstrate what the people of this company can deliver,” Mr. Marchionne said. “We owe a debt of gratitude to those whose intervention allowed Chrysler Group to re-establish itself as a strong and viable carmaker.” nytimes.com

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