Chrysler asking for $7B to stay afloat

Dec 03, 2008 | 12:25 PM | Tom Jennemann

Chrysler LLC said that it needs a $7-billion government loan in order to cover its expenses in the first quarter, according to a plan filed with the U.S. Senate Committee on Banking, Housing and Urban Affairs.

The Auburn Hills, Mich.-based automaker said it will have only $2.5 billion cash on hand at the end of the year and is projecting total expenditures of $11.6 billion in the first quarter. The vast majority of those expenditures, approximately $8 billion, is slated to go to part suppliers.....

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