Chrysler repays auto bailout cash

A Jeep Wrangler is displayed on the sales lot at a California Chrysler Jeep Dodge dealership.

Chrysler Group yesterday paid back $7.6 billion in U.S. and Canadian government loans from its 2009 bailout, a move that allows the U.S. automaker to distance itself from an unpopular bailout and deepen its ties with Italian automaker Fiat SpA.

Chrysler said it had made payments of $5.9 billion to the U.S. Treasury and $1.7 billion to the governments of Canada and Ontario to repay loans it received in June 2009.

The repayment puts Chrysler on firmer financial ground and draws it closer to Fiat, two goals investors and bankers have said would make Chrysler more attractive in an initial public offering that could come this year or next.

The automaker said it repaid the original loans in full, more than six years ahead of schedule. Under the original terms, Chrysler had until 2017 to repay the debt.

Obama cheers

LONDON – President Barack Obama called the Chrysler payment a “significant milestone” and a sign that the U.S. auto industry is recovering.

Obama was quick to hail the news that could be important in garnering support for his 2012 re-election campaign in the midwestern United States where the auto industry has struggled.

Obama has drawn fire from some conservatives for bailing out portions of the U.S. auto industry two years ago.


News
Entertainment
Sports
Lifestyle
Local

TIPS: How to take great photos during 'Manhattanhenge'

Grab your camera and make the perfect picture this Saturday.

National

Seinfeld emoji cound be available next week

Get your puffy shirts and your marble rye ready, America. Seinfeld emoji could become available as early as next week.

Local

MAP: New York City street closures July 11,…

A block party in Times Square, Bastille Day celebrations and a festival will cause traffic delays and street closures in New York City this weekend.

Local

Thousands come to pay respects to fallen NYC…

Thousands turned out to say farewell to fallen firefighter Gordon Ambelas at St. Clare’s Church in Staten Island this morning.

Movies

Interview: Matt Reeves on directing 'Dawn of the…

"Dawn of the Planet of the Apes" director Matt Reeves discusses his love for the franchise, working with actors as apes and the weight of 3-D cameras.

Television

Final season of 'Glee' will be only 13…

The final season of "Glee" will officially be only 13 episodes, instead of the usual 22.

Entertainment

Complex characters, juicy scripts boost Netflix's Emmy nominations

The unconventional approach to TV at Netflix netted 31 Emmy nominations, a major achievement after plunging into original programing just last year.

Entertainment

Actor Josh Duhamel dons bunny suit to encourage…

The former Transformers star and husband to singer Fergie took to the Venice Beach boardwalk in California in a bright pink, Christmas-story inspired bunny suit Wednesday to help spread the…

NFL

Which Jets player has the best odds at…

Metro New York asked Bovada.LV to rank the top three contenders for the NFL MVP on the Jets.

World Cup

Argentina prevails in penalties, advances to final

The drama never seems to subside as the World Cup finally has its final two.

MLB

A Joffrey Ballet dancer threw the most beautiful…

http://youtu.be/Hg61JOZJrYM?t=29s While asked to throw a first pitch at a baseball game can be a treacherous and/or embarrassing experience (see Cent, 50), sometimes everything can…

World Cup

World Cup semifinals preview: Holland vs. Argentina

The second semifinal pits another South American soccer power against a European one.

Wellbeing

This Week in Health: Sexual headaches can be…

Sexual headaches: an under-discussed health issue Location: U.S. Results: If getting frisky brings on a headache, you’re not alone. Headaches associated with sexual activity represent a…

Food

Head to FiDi for free Chia Pods from…

They may have been last summer's darlings, but chia seeds have definitely not gone out of style. A great source of omega-3 fatty acids, they…

Wellbeing

Stop thinking your diabetes risk begins above a…

When it comes to diabetes research, a new study says black and Asian adults may be at risk for developing diabetes at a lower weight…

Food

Christian Siriano inspires Magnum's color-blocked dessert

Christian Siriano, chef Andrew Carmellini and Magnum team up to create "America's Most Fashionable Chocolate Dessert."