Unscripted remarks are traditional from Chrysler chairman.

Unscripted remarks are traditional from Chrysler executives.

Chrysler LLC has clarified some “off the cuff” comments by CEO Bob Nardelli that seemed to threaten the company’s effort to negotiate an alliance with Fiat.

In a recent television interview, Nardelli suggested that if the deal with Fiat went through, the Italian carmaker would be responsible for 35% of Chrysler’s current debt.

Fiat officials issued a contrasting statement that in essence said “no way.”

Nardelli, who apparently understands Italian, agreed and Chrysler issued a statement clarifying the chief executive officer’s remarks. 

“As a potential result of the ongoing discussions taking place related to the Fiat alliance, Fiat would become an equity holder with the same rights and responsibilities as all other equity holders in a newly restructured company. To clarify, this does not mean Fiat would assume responsibility for any of Chrysler LLC’s debt,” the statement said.

It’s not the first time that Chrysler has had to clarify Nardelli’s comments, which have included some loose talk more than a year ago about the company being technically bankrupt.

Fiat has offered to trade small-car technology for a 35% stake in Chrysler with an option that increases to 55% ownership. Chrysler is currently being propped up by U.S. taxpayer financed loans after its partial owner, the private equity firm Cerberus refused to put in any more, well, equity.

Critics maintain that the proposed Fiat takeover amounts to a U.S. taxpayer assisted movement of control of the U.S. automaker to Italy while Cerberus bails out.

Nonetheless, the Fiat-Chrysler deal appears to have the endorsement of the Obama administration since Steve Rattner, a key member of the President’s Auto Task Force, said in an interview with Bloomberg Television that the deal made sense.

Whether that’s political sense as well as financial sense remains to be see.

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