http://www.bloomberg.com/news/2011-02-06/top-stories-business-and-finance.html
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Chrysler Group LLC Chief Executive Officer Sergio Marchionne says a remark he made yesterday in reference to interest rates being charged on loans provided by the U.S. and Canadian governments was "inappropriate." "I regret the remark," Marchionne said in a statement posted on Chrysler´s website. "As the only parties willing to underwrite the risk associated with Chrysler´s recovery plan, the two governments levied interest rates that, although appropriate at the time, are above current market conditions." Chrysler is paying "shyster rates" to government lenders of last resort because banks reduced credit during the recession in 2008 and 2009, Marchionne said. He made the remark yesterday during an interview at the J.D. Power & Associates International Automotive Roundtable in San Francisco. The automaker, operated by Fiat SpA, is preparing for an initial public offering in the second half of this year. The timing will depend on market conditions, Chrysler´s financial results and its ability to refinance the government loans, Marchionne said.
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