Business: Big Loss, Bigger Bailout

The White House proposes a $1.5 billion tide-me-over for Chrysler

The mood in the 54th-floor boardroom of Chrysler Corp.'s offices atop the Pan Am building in Manhattan was understandably subdued. Sales were still slumping, costs continued to soar, and back in Detroit the company had earlier in the week announced a third-quarter deficit of $461 million, by far the largest quarterly loss in its troubled financial history.

But Chairman Lee lacocca had some good news for his 16 fellow Chrysler directors. Before they gathered for their regular monthly meeting, he had received a call...

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