AUBURN HILLS, Mich., April 22 (UPI) -- Michigan Gov. Jennifer Granholm Wednesday urged Chrysler's credit holders to strike a deal with the automaker, eight days before a critical loan deadline.
Chrysler has until April 30 to reach a deal with creditors that would convince the federal government to release $6 billion in emergency loans to the company. Recent negotiations between the U.S. Treasury and the banks that hold $6.9 billion in Chrysler's secured debt show the two sides are far apart, The Detroit News reported.