Dense Fog Advisory issued January 22 at 11:51AM EST expiring January 23 at 10:00AM EST in effect for: Bay, Genesee, Huron, Lapeer, Livingston, Macomb, Midland, Oakland, Saginaw, Saint Clair, Sanilac, Shiawassee, Tuscola, Washtenaw, Wayne
Dense Fog Advisory issued January 22 at 11:51AM EST expiring January 23 at 10:00AM EST in effect for: Lenawee, Monroe
Along with General Motors, Chrysler accepted billions of dollars in taxpayer-funded federal bankruptcy assistance.
An IPO would be a key step in Chrysler's emergence as a financially independent company capable of making good on its obligations to the UAW's VEBA.
A statement released by the automaker explained, "The common shares to be sold in this offering are proposed to be sold by the UAW Retiree Medical Benefits Trust (the "VEBA Trust"), which has exercised demand registration rights under a shareholders' agreement with Chrysler Group LLC. The VEBA Trust will receive all of the net proceeds from this offering."