"If Chrysler goes into bankruptcy, I would expect it to go into liquidation that its assets would be sold in whole or in part, [Standard & Poor's recovery analyst Greg] Maddock said. Instead of being reorganized, there would be no carmaker after bankruptcy."
The Wall Street Journal says:
"The ratings firm warned that large parts of Chrysler likely would be broken up and sold off if it files for bankruptcy protection. In other words, expect Chapter 7 liquidation on May first."
Looks like extremely bad news for Chrylser Corp and their dealers employees.
From what I've read the Feds will let Chrysler fail and then force GM into Chapter 11 in order for them to shed their legacy costs and return lean and mean.
From what I've read the Feds will let Chrysler fail and then force GM into Chapter 11 in order for them to shed their legacy costs and return lean and mean.
would that mean, they would get rid of the cost of ex- employees? 3 billion a year.. My sister in law was here last week Her daughter and son-in law both work for Chrysler. They were not impressed with "her" new Toyota Camry.. lol
They were not impressed with "her" new Toyota Camry.. lol