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Reference to “Shyster” Loans “Inappropriate,” Concedes Marchionne

CEO suggests full Chrysler/Fiat merger possible, with U.S. HQ.

by on Feb.07, 2011

Marchionne regrets his "shyster" comment - but lets stand another suggesting the joint Chrysler/Fiat could base itself in the U.S.

Chrysler CEO Sergio Marchionne has expressed his “regret” at a remark he termed “inappropriate” referring to the loans the automaker got from the U.S. and Canadian governments following its 2009 bankruptcy.

Following a weekend meeting with Chrysler retailers at the annual conference of the National Automobile Dealers Association, Marchionne said, “I want to pay back the shyster loans” as soon as possible, a term normally associated with usurious lenders.

In the Know!

It would be one of the steps that needs be taken before any merger between Chrysler and Fiat, something the Canadian-educated executive hinted he is considering.  Marchionne also left open the possibility that a consolidated Chrysler/Fiat might headquarter out of the U.S.  Such a move, he hinted, might follow their operational consolidation.