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Bob Nardelli’s new plan; recent email to employees

By Amarendra Bhushan for CEOWORLD Magazine Updated:December 13, 2008

Chrysler LLC Chief Executive Officer Bob Nardelli urged employees Thursday to contact Congress about supporting the emergency rescue package for Detroit’s automakers.

“It is still unclear at this point whether there are the necessary 60 votes in the Senate required for the bill’s passage,” Nardelli said in a memo to employees obtained by the Free Press.

Chrysler is seeking $7 billion in bridge loans from the government and has warned that without immediate help, its cash could fall below the level necessary to sustain the company through the first three months of 2009.

Dear Employees:

On Wednesday evening the U.S. House of Representatives approved the legislation that will provide a short-term working capital loan for Chrysler. While this is an important positive development in the process, it is still unclear at this point whether there are the necessary 60 votes in the Senate required for the bill’s passage.

We must continue to make our case in Washington that the passage of this legislation is necessary to get us through these difficult economic times, and that we are committed to the restructuring and transformation of our Company. The loan will enable Chrysler to build on our recent improvements in quality and productivity, and help us continue to fund our future product plan, which includes our exciting family of electric-drive and range-extended electric vehicles.

Even if you’ve already done so, I encourage every U.S. employee to visit www.grabdemocracybythehorns.com and use the information on the site to contact your congressional representative and senators. Thank your representative if they voted for the bill, and express your disappointment if they did not. With the Senate vote coming soon, it’s especially important to contact your representative there, and make sure they continue to hear your voice loud and clear on this critical issue:

* There are a million people who count on Chrysler for their livelihoods including our employees, retirees, dealers, and suppliers, as well as 30 million owners of Chrysler, Jeep and Dodge products;
* We have a clear plan to return to viability that includes many new fuel-efficient vehicles with strong consumer appeal; and
* With the support of the bridge loan, Chrysler plans to emerge from the current economic downturn and generate adequate cash to begin repayment of the loan in 2012.

Thank you for your steadfast support of Chrysler.

Bob

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