Editorials laud Chrysler comeback
Chrysler Group is making a comeback, again, according to a column by Paul Ingrassia, deputy editor-in-chief of Reu-ters.
âPeople have been underes-timating (Sergio) Marchionne for years, and it has always been a bad bet,â Ingrassia wrote. The editorial also said that Marchionne, CEO of Chrysler Group and Fiat, has done âeverything rightâ with the two companies so far.
A Detroit News editorial also gave âkudosâ to Chrysler Group for its payback to the U.S. and Canadian governments six years ahead of schedule. The story said the loan repayment eliminates the stigma of being âbeholden to the feds.â
A Courier-Journal editorial said Chryslerâs edgy âImported from Detroitâ tagline be the slo-gan that applies to an automo-tive industry making a come-back from the Great Recession and that Chrysler could be the âposter childâ for that come-back.
âAmericans should take pride that their tax dollars paid off in such a big way, and worked to benefit so many of their fellow citizens and one of the nation's signature industries,â the Couri-er-Journal said.
âIn rescuing Chrysler and GM, the Obama administration spread pain among workers, dealers, managers, sharehold-ers, bondholders and the tax-payers,â Ingrassia said. âIt was shared sacrifice, not entirely voluntary, but it worked.â
Friday, June 3, 2011
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