Chrysler gets $400 million in loan panel backing

The financially desperate Chrysler Corporation won approval for another $400 million in backing from the Loan Guarantee Board. Steve Miller, a Chrysler vice-president, said the decision was "a milestone in economic history" and predicted the company will survive without having to tap the additional $300 million Congress had authorized. But he added that Chrysler is seeking a potential merger with another carmaker, possibly French or Japanese, to ensure that America's third-largest automaker survives in some form. Chrysler must no w win concessions from banks, its suppliers and employees.

You've read 3 of 3 free articles. Subscribe to continue.
QR Code to Chrysler gets $400 million in loan panel backing
Read this article in
https://www.csmonitor.com/1981/0120/012017.html
QR Code to Subscription page
Start your subscription today
https://www.csmonitor.com/subscribe
CSM logo

Why is Christian Science in our name?

Our name is about honesty. The Monitor is owned by The Christian Science Church, and we’ve always been transparent about that.

The Church publishes the Monitor because it sees good journalism as vital to progress in the world. Since 1908, we’ve aimed “to injure no man, but to bless all mankind,” as our founder, Mary Baker Eddy, put it.

Here, you’ll find award-winning journalism not driven by commercial influences – a news organization that takes seriously its mission to uplift the world by seeking solutions and finding reasons for credible hope.

Explore values journalism About us