Chysler Cash Will Run Short in January

Chrysler is nearing the minimum level of cash it needs to run the company and will have trouble paying bills after the first of the year, according to its chief financial officer. In an interview with The Associated Press Thursday night, Vice Chairman Tom LaSorda and Chief Financial Officer Ron Kolka also said some parts suppliers and other vendors have demanded cash on delivery but the company is fending them off. Chrysler has said its cash will drop to $2.5 billion by Dec. 31, the minimum needed to meet payroll, pay suppliers and run the company. With the U.S. sales slump expected to continue into January, one of the slowest sales months of the year, the company has little revenue coming in and must pay suppliers $7 billion every 45 days, Kolka said.