The federal government's controversial decision to rescue Chrysler from oblivion in 2009 is looking pretty good. The automaker reported a $116-million profit in the first quarter of the year, its first since 2006. After emerging from bankruptcy two years ago, Chrysler officials say, the company will repay the remaining $5.8 billion it owes the U.S. government by the end of June.
During the darkest days of the financial crisis, the Obama administration, together with Canada, loaned Chrysler $7.5 billion and pushed the ailing company into bankruptcy and to form a partnership with the Italian carmaker Fiat. The company provides 35,890 badly needed jobs in the United States. Sometimes when the government shows up to help, it actually does. hN