Auto Industry
Did Chrysler Repay Its Debts? Another Lesson in Semantics
Belvidere, Illinois. On March 25, 2012 CBS 60 Minuets aired their headline report called “Resurrecting Chrysler” (PDF copy of the report) – a “status” of the Chrysler bailout. The report touted the “success” of Chrysler, how the company allegedly ‘paid back their $6 Billion bailout loan eight years ahead of schedule,’ and how Fiat (a foreign auto company based in Italy) ‘helped take Chrysler off the government’s hands in exchange for a 20% stake in the “American” auto company.’ We took a look at a few other parts in the 60 Minuets report and have challenged the data here. Read More…