Chrysler, Fiat May Face ‘Impossible Goal’ on Alliance

Chrysler LLC may face an “impossible goal” in completing an alliance with Fiat SpA and meeting an Obama administration deadline to erase debt and win more union concessions by April 30.

Chrysler got its blueprint for the next month yesterday from President Barack Obama’s task force, which said that $6 billion in new aid hinges on “extinguishing the vast majority” of outstanding secured debt and new givebacks from the United Auto Workers.

Read Full Article from Bloomberg

- Posted: 2009-03-31 07:52:10

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