Senator: If We Save Chrysler, They'll Just Sell It

Thursday, December 4, 2008 2:46 PM

A U.S. senator says the government shouldn't lend money to Chrysler LLC because it would just be funding the automaker so it can stay in business until its private owners can sell it.

Republican Sen. Bob Corker of Tennessee said during a hearing on the loans Thursday that Chrysler's owner, Cerberus Capital Management LP, won't put any more money into the Auburn Hills, Mich.-based automaker.

Chrysler CEO Robert Nardelli says he's not thinking about a sale and is working to make the company viable on its own. He told the Senate Banking Committee in Washington that the company's plans for alliances and consolidation include deals to make vehicles for other manufacturers and make better use of Chrysler factories. ... 58236.html