The Richards wrote:
> At 02:35 AM 12/2/97 -0800, you wrote:
> >John McEwen wrote:
> >> To think that the greatest auto and
> >> motorcycle names of Britain are dead and gone - Austin and Morris,
> BSA and
> >> Norton - is a sad commentary on the history of a great nation. No
> other
> >> country stood by and witnessed such an amazing loss.
> >
> >That's where I might have to differ on this argument. Didn't
> Chrysler almost
> >disappear in the late eighties/early ninties? I remember hearing
> rumours
> about their
> >demise, but no talk of what would be done. Thankfully, they pulled
> themselves up by
> >the bootstraps and built the new Ram trucks. If I'm wrong, please
> correct
> me, this
> >is only what I had heard at the time.
>
> Mr. Lee went to Congress hat in hand and received a massive loan for
> Chrysler. To that august body's credit, Congress didn't really try to
> run
> Chrysler. And to Mr. Lee's credit, Chrysler paid the loan off early.
>
> Michael, New Bern, NC
Well, that is theLee Iaccoca version, what his little story omits is
that while the loan was paid off early, no attempt was ever made to
repay the outright grants that were also made at the same time. Go back
and check the newspapers at the time, as I recall that the aid package
for Chrysler involved more that just a loan for the government, it
involved some substatial grant monies as well.
Greg
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