Thursday, April 30, 2009
Chrysler Is In Chapter 11 Bankruptcy
The news stories seem to be saying that Chrysler "will" file, but that's just because they're a bit slow with their updates. It's a done deal.
Let's hope this gets them past the hurdles set by creditors (whose expectations were, in my opinion, quite unreasonable given that Chrysler is bankrupt), and facilitates a quick deal with Fiat. Good luck to the employees and retirees, who may get hit pretty hard.