U.S. Loses $1.3 Bil. on Chrysler Investment
The U.S government has sold its shares in Chrysler LLC at a likely loss of $1.3 billion in taxpayer money, the Treasury Department said Thursday, announcing the end of a controversial investment that resurrected the troubled auto company.
The good news; Chrysler has survived as a viable US auto manufacturing company, including the Belvidere facility.
The bad news; another US company going into the hands of a foreign company.
Well, at least it’s a European company!