Chrysler receives $4 billion in restructuring loans

>> Monday, January 5, 2009

Late Friday evening Chrysler received its first $4 billion in government loan money from the $17.4 billion approved as an emergency measure late in December, pushing its bottom line closer to the $2.5-3 billion minimum it needs to remain in operation. Covering debts and meeting supplier payment demands is priority one at this point, though the company hopes to return to some degree of normalcy soon. Without the loan money, Chrysler's cash hemorrhages in the second half of 2008 would have placed the company in danger of bankruptcy or liquidation.



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