Chrysler management expresses hope

While Chrysler's new owner, Cerberus Capital Management has expressed confidence over the future of the business, the automaker's chief executive has claimed it is operationally bankrupt.

The Wall Street Journal reported that Chrysler chairman and chief executive Robert Nardelli, told employees at a meeting this month that while the company was not technically bankrupt, it was being kept afloat by the ten billion dollars that had been entrusted by investors.

Cerberus chief operating officer Mark Neporent has given a vote of confidence to Nardelli and says he fully endorses the strategic direction being taken to take Chrysler into the black.

Cerberus bought the US automaker from Germany's DaimlerChrysler in August for US$7.4 billion. Malaysia Sun