Chrysler, Ford CEOs 'encouraged' about gov't help

Wed Sep 17, 2008 10:49pm BST
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WASHINGTON, Sept 17 (Reuters) - The chief executives of Ford Motor Co (F.N: Quote, Profile, Research) and Chrysler LLC were upbeat on Wednesday about industry prospects for receiving government loans after meeting on Wednesday with House of Representatives Speaker Nancy Pelosi.

Alan Mulally of Ford and Robert Nardelli of Chrysler said they were "encouraged" and "pleased" after pitching the industry's need for $25 billion in low interest financing to help them make more fuel efficient vehicles.

Rick Wagoner, the CEO of General Motors Corp GM.N, also attended the meeting but did not speak with reporters afterward.

Automakers, strapped for financing due to their poor financial performance and tightening credit markets, want quick action by Congress to approve billions in taxpayer funds needed to activate the loan program for manufacturers and suppliers. (Reporting by John Crawley; Editing by Bernard Orr)

 
 

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