Obama - Chrysler in Chapter 11 bankruptcy.

F Body · April 30, 2009, 01:18:26 PM

Chrysler will file for Chapter 11 bankruptcy protection immediately and has formed an alliance with Fiat, President Obama has just said

http://news.bbc.co.uk/1/hi/business/8027109.stm\" target=\"_blank\" rel=\"nofollow\">http://news.bbc.co.uk/1/hi/business/8027109.stm

HardRockCamaro · April 30, 2009, 01:28:47 PM

According to this he was pretty scathing of the greedy investment houses that were blocking the restructuring:

http://www.detnews.com/article/20090430/AUTO01/904300450/1148/rss25\" target=\"_blank\" rel=\"nofollow\">http://www.detnews.com/article/20090430/AUTO01/904300450/1148/rss25

sixpack2639 · April 30, 2009, 06:56:27 PM

I thought the deal with Fiat was meant to keep them out of bankruptcy????

Andy · April 30, 2009, 07:03:26 PM

Quoting: sixpack2639

I thought the deal with Fiat was meant to keep them out of bankruptcy????

I think whoevers running the show believes its the only way the firm can carry on.

I don't quite see how, as Fiat are up to there necks in debt anyway.

Will be interesting to see how it progresses.

sixpack2639 · April 30, 2009, 07:05:10 PM

Quoting: Andy

Will be interesting to see how it progresses

Andy · April 30, 2009, 07:16:47 PM

Chrysler Punto... anyone?

FUBAR · April 30, 2009, 07:20:20 PM

This will make Philo's day... he can now hold his head high when his ~~Alpha~~ ~~Fiat~~ Chrysler 166 arrives at the meet... whether under its own power or otherwise

Andy · April 30, 2009, 07:31:47 PM

Gotta be towed in by a Dodge pickup, once the steam clears it reveals a busted engine with a chrysler badge peeling back to reveal ~~ALPHA~~ ~~FIAT~~

F Body · May 01, 2009, 07:47:53 AM

Looking at the current and recent past model line up is it any wonder that they went bust

Click on the right of each photo to advance the slide show

http://jalopnik.com/photogallery/wreckedchrysler/1008106341\" target=\"_blank\" rel=\"nofollow\">http://jalopnik.com/photogallery/wreckedchrysler/1008106341

philoldsmobile · May 01, 2009, 04:50:33 PM

Quoting: Andy

I don't quite see how, as Fiat are up to there necks in debt anyway.

au contraire, the last 1/4 of 2008 was their most profitable ever, and as well as chrysler, they are in the running to buy Vauxhall and opel, leaving them as one of the largest car companies in the world if it goes ahead.