Chrysler - bankruptcy

[bigvegan]

http://www.nytimes.com/2009/04/24/business/24chrysler.html?hp=&pagewanted=print


U.S. Is Said to Push Chrysler to Prepare for Chapter 11

By MICHELINE MAYNARD (http://topics.nytimes.com/top/reference/timestopics/people/m/micheline_maynard/index.html?inline=nyt-per) and MICHAEL J. de la MERCED (http://topics.nytimes.com/top/reference/timestopics/people/d/michael_j_de_la_merced/index.html?inline=nyt-per)
DETROIT — The Treasury Department (http://topics.nytimes.com/top/reference/timestopics/organizations/t/treasury_department/index.html?inline=nyt-org) is directing Chrysler (http://topics.nytimes.com/top/news/business/companies/chrysler_llc/index.html?inline=nyt-org) to prepare a Chapter 11 bankruptcy filing that could come as soon as next week, people with direct knowledge of the action said Thursday.
The Treasury has an agreement in principle with the United Automobile Workers (http://topics.nytimes.com/top/reference/timestopics/organizations/u/united_automobile_workers/index.html?inline=nyt-org) union, whose members’ pensions and retiree health care benefits would be protected as a condition of the bankruptcy filing, said these people, who asked for anonymity because they were not authorized to discuss the case.
Moreover, Fiat (http://topics.nytimes.com/top/news/business/companies/fiat_spa/index.html?inline=nyt-org) of Italy would complete its alliance with Chrysler while the company is under bankruptcy protection...

[-The Stig-]

https://static1.pt-content.com/images/noimg.gif (http://smiliesftw.com)https://static1.pt-content.com/images/pt/2009/04/pooler-1.gif (http://smiliesftw.com)

[MrQuick]

Most likly now. I believe it was planned from the very beginning.

Get the tax payer bail out. Little bit goes to the man. Claim the chapter then you will not have to pay back the tax payer loan.

Also the only way they can bust the unions, get out f the pensions, get rid of debt and Fiat will buy it out at .15 cents on the dollar.

Thanks alot Diamler.

Nice play.

vince

[bigvegan]

There's a slim chance they could actually make this work.

Imagine a new version of the old Ghia bodied Chryslers from the 50's (http://images.google.com/images?q=chrysler%20ghia%20body&oe=utf-8&rls=org.mozilla:en-US:official&client=firefox-a&um=1&ie=UTF-8&sa=N&hl=en&tab=wi), but with Hemi/Viper engines or the new Chysler electric powerplants.

Italian style + American engineering could make for some fun cars.

[Shiro666]

Fiat would not even consider a merger unless Crysler was in chapter 11.

This is the only way that they will save their name. There are already several Fiat's and a few Alfa's that meet current US crash standards.

These are not the Italian cars of the 60's and 70's, these are well regarded cars that have proven themselvs the world over. Fiat group hired a bunch of German engineers and managers to take out all the bad Italian design stuff.

I am excited about the prospect of Fiats in the US.