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swa5000
swa5000 asked in Business & FinanceCorporations · 2 decades ago

when did the US government bail out Chrysler?

4 Answers

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  • mrjo_ct
    Lv 6
    2 decades ago
    Favorite Answer

    Congress passed the subsidy for Chrysler in December of 1979. The condition was they would receive it only if Chrysler received private financing and reduced employees' wages.

    Source(s): Old enough to remember
  • Conan the Librarian
    Lv 6
    2 decades ago

    Chrysler misjudged customer demands in the 1960s, when it introduced small cars, and in the 1970s, when it maintained production of large cars, resulting in massive losses.

    Facing the prospect of bankruptcy, Chrysler negotiated $1.5 billion in loan guarantees from the federal government and brought in Lee Iacocca, former Ford president (and the man behind the Ford Mustang), as CEO in 1978.

    Source(s): Hoovers Business Database: http://www.hoovers.com/free/
  • distill80
    2 decades ago

    Attached link indicates the bail out was 1979 - 1980.

    Source(s): http://www.wsws.org/articles/2001/feb2001/chry-f14...
  • rockEsquirrel
    Lv 5
    2 decades ago

    Around the 1970s, when Lee Iacocca was its chairman. It turned out to be a good move.

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