Free at Last

Chrysler's federal period ends

Applause was heard all around last August when a revived Chrysler paid back the last of its $1.2 billion in Government-backed loans seven years ahead of schedule. But one bothersome problem still remained. That was the matter of the Government's right to buy 14.4 million shares of Chrysler stock, which had been given in 1980 as a sweetener for the loan guarantees. Last week Chrysler bid $311 million to buy back the stock rights and snipped even that strand. Thus, with the exception of $215 million owed to various states, Chrysler has once again become a company financed...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!