Fiat-Chrysler, Obama 'hopeful'

| Thu, 04/30/2009 - 03:27

United States President Barack Obama on Wednesday said he was hopeful a deal between Fiat and Chrysler could be forged by this week's deadline for receiving bailout funds.

But he said he wasn't sure if ''the deal is going to get done''.

Obama said Chrysler management would present their plan ''in the next two days'' and stressed the planned merger could have benefits in producing cleaner cars.

The US president praised Fiat for ''doing a good job'' in turning itself round under CEO Sergio Marchionne, the possible CEO of the joint group.

He said Chrysler workers had made ''huge sacrifices'' in agreeing to wage cuts on which the plan hinges.

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