February 8, 2012 11:23 AM
On May 24, 2011, Chrysler Group LLC (the new company created from
an alliance with Fiat on June 10, 2009) did repay in full the loans
it was given, six years early. In fact, the $6.6 billion payment
provided an annual rate of return on the funds lent to Chrysler
Group of almost 20% which is a pretty attractive return, by any
standard.
“When Chrysler, the new company says, we paid back every
penny we borrowed, that is 100 percent correct,” said Ron
Bloom, formerly a special assistant to President Obama, in an
interview with WJR, Detroit radio personality Paul W. Smith.
The $1.3 billion "loss" most comments are referring to belongs to
Old Carco (i.e. the Chrysler before June 10, 2009.)
It's Old Carco that is responsible to pay, and not the "new"
Chrysler Group LLC.
This is the truth in plain sight. All the rest is fiction with a
flavor of intellectual dishonesty.
