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Southern Illinoisan in Carbondale, Illinois

15 Jan 1981

Page 9

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Southern Illinoisan January 15, 1981 Page 9 old newspaper archives

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Newspaper

Southern Illinoisan

Location

Carbondale, Illinois, United States of America

Date

Jan 15, 1981

Page

9

Chrysler wins $400 million loan guarantee for restructuring

Chrysler chief Lee Iacocca hails a $400 million federal loan guarantee as crucial to a reorganization that avoids bankruptcy. The deal includes $622 million in wage concessions from the UAW and about $350 million in loan forgiveness from bankers, with the loan board set to discuss implementation details at an upcoming meeting.

MENTIONED IN THIS ARTICLE

Washington Chrysler Corp Lee A. Iacocca Iacocca United Auto Workers Chrysler UAW Douglas A. Fraser Chrysler Loan Guarantee Board
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Illinois lawmakers approve loan to Chrysler

The outgoing Illinois General Assembly voted 100 to 60 in the House and 34 to 18 in the Senate to authorize a $20 million state loan to Chrysler. The measure freed funds from lottery revenues and moves to Gov. Thompson for approval as lawmakers fear mass unemployment near Belvidere.

MENTIONED IN THIS ARTICLE

81St General Assembly
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Also Mentioned on This Page

Herrin Claas Herrin Elks Club Passer Macdale Shopping Arbondale Noa Delivery Zwick‘’S Discount Corner Sohn Carmbkbant Brown Duck Roblee and Florsheim Park and Monroe Visa Mastercard Sacos Mth Cherry Streets Illinois Union Made In America Coats & Jackets William Barry Pendleton, Woolrich Cisarani Olga Vassarette WY Price Fieldcrest Towers All Styles North Park Ave Herrin IL Thompson Belvidere Rockford
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