Thursday, February 10, 2011

Marchionne apologizes for 'shyster' comments

San FranciscoChrysler CEO Sergio Marchionne apologized today for describing the $12 billion U.S. government bailout that saved the company as "shyster loans."
Marchionne has repeatedly lamented the fact that the company paid more than $1.2 billion last year in interest on its loans — and noted that the company would have reported a profit without those costs. Chrysler owes the U.S. government $5.8 billion and $1.6 billion to the Canadian government.

From The Detroit News:
Marchionne apologizes for 'shyster' comments | detnews.com | The Detroit News

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