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Chrysler Pres. Tom LaSorda Denies Rumors Of Jeep Sell-Of

Posted in auto industry, Cars, Chrysler, Dodge, Jeep, Newsworthy by Suzanne Denbow | January 15th, 2009 | Leave a Reply |

Tom LaSorda, President of Chrysler, speaks to the media after a Chrysler rally at the Jeep plant in Toledo, Ohio/

Chrysler LLC Vice Chairman and President Tom LaSorda announced on Wednesday that rumors suggesting that Chrysler plans to sell of its 4×4/SUV subsidiary, Jeep, are completely untrue. “What was reported that we’re in discussions to sell the Jeep brand is absolutely false,” Lasorda firmly relayed to reporters during a conference call Wednesday morning. “We will not separate the brands from the company.”

Chrysler has been experiencing very public financial difficulties for the better part of a year, and although LaSorda acknowledged that Chrysler’s original business model called for the sale of any “non-earning assets” in order to avoid bankruptcy, the terms of the loan agreement as outlined in the federal auto bailout bill prevent any such action. Explained LaSorda, “If we were to sell any assets, and if you looked at the loan agreement, the loan agreement would not allow us to do that without going through the ‘car czar’.”

Source: Chrysler
Image Cred: AP Photo by Madalyn Ruggiero

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