Podcasts & RSS Feeds
Most Active Stories
- Former Detroit broadcaster was inspiration for 'Ron Burgundy'
- Muskegon is home to America's tallest, singing Christmas tree
- Pressure builds on Michigan Football as Athletic Department's budget grows
- Why this 20 year old is getting a mastectomy, and why she's not alone
- Tribal sovereignty at issue in US Supreme Court case out of Michigan
Mon January 10, 2011
Marchionne says he expects a Chrysler IPO later this year
Michigan Radio's Steve Carmody just attended a press conference with Fiat and Chrysler CEO Sergio Marchionne.
Marchionne told reporters that his goal is to pay back the government loans by the end of this year.
Chrysler owes around $7.5 billion to the U.S. government.
He said he was heartened by the response to GM's IPO last year and the investor interest in the auto industry makes a Chrysler IPO more likely.
The Wall Street Journal reports today that Fiat has raised its ownership stake in Chrysler from 20% to 25%.
The increased ownership complies with an agreement between the Italian and U.S. auto makers and the U.S. Treasury that triggered a greater stake once commercial production of a fully-integrated robotized engine began at Chrysler's Dundee, Michigan plant, Fiat said in a statement.
Detroit Auto Show