chrysler corporation
Chrysler Corporation is the nation's third largest automobile manufacturer.
In 1978 Chrysler posted sales of $16,340,700,000 and employed 250,000 workers.
It ranked as the tenth-largest industrial firm in the United States and as the
fourteenth largest in the world. If the company failed the effects would be
widespread.
On July 31, 1979, John Riccardo, chairman of Chrysler Corporation, announced
that Chrysler had lost $207.1 million in the second quarter of 1979. A quarter
earlier, Chrysler had lost $53.8 million. Analysts were predicting that by the
end of the year Chrysler's losses would total $400 to $600 million, more than
double the previous year's deficit of $204.6 million. To continue operating,
Riccardo said, the company was forced to request $1 billion in cash from the
federal government.
In 1978 Chrysler posted sales of $16,340,700,000 and employed 250,000 workers.
It ranked as the tenth-largest industrial firm in the United States and as the
fourteenth largest in the world. If the company failed the effects would be
widespread.
On July 31, 1979, John Riccardo, chairman of Chrysler Corporation, announced
that Chrysler had lost $207.1 million in the second quarter of 1979. A quarter
earlier, Chrysler had lost $53.8 million. Analysts were predicting that by the
end of the year Chrysler's losses would total $400 to $600 million, more than
double the previous year's deficit of $204.6 million. To continue operating,
Riccardo said, the company was forced to request $1 billion in cash from the
federal government.