Wednesday, March 18, 2009

Chrysler CEO encouraged by task force progress

Chrysler LLC Chief Executive Bob Nardelli said Tuesday that he's encouraged by the focus of President Barack Obama's auto industry task force on job preservation, but he added that all options for Chrysler are still being considered.

Nardelli said during an appearance on cable network CNBC that the task force hasn't told him that a bankruptcy protection filing at Chrysler is out of the question.

"No they haven't said that," Nardelli said. "What they have said is that they're very intent on preserving, you know, 40,000 or 50,000 direct jobs."

Nardelli said it's crucial that Chrysler get some kind of an indication by March 31 as to if its request for $5 billion in federal aid will be granted, adding that the denial of the aid would be "devastating" for the automaker.

Steven Rattner, a top adviser to the task force, said in an interview with The Associated Press on Monday that the task force was trying to successfully restructure the auto makers during a difficult economic downturn....More

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