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Tuesday, February 17, 2009

Chrylser Asks for More Money

by Calculated Risk on 2/17/2009 04:37:00 PM

Update: Here is the Chrylser plan update from the WSJ: Chrysler LLC Viability Plan Submitted Today to The U.S. Treasury Department

From MarketWatch: Chrysler asks government for $2 billion more in loans

Chrysler ... submitted an update on its viability plan to the U.S. Treasury, asking for an additional $2 billion in loans and cutting its industry sales target for 2009 to 10.1 million cars and trucks. ... Chrysler said it plans to cut fixed costs by $700 million in 2009, while ... slashing 3,000 jobs ... Chrysler also said it has reached an agreement for concessions from the United Auto Workers and expects to reach a deal with bondholders.