April 29, 2009

Chrysler Bankruptcy


This is not good news



News Alert
from The Wall Street Journal


Talks between the Treasury Department and lenders aimed at keeping Chrysler out of bankruptcy broke down late Wednesday, making it all but certain that the car maker will file for Chapter 11 protection on Thursday.

Administration officials, who have been braced for a Chrysler bankruptcy filing for weeks, say all the pieces are in place to get the country's third-largest employer through the court quickly, perhaps in a matter of weeks.

http://online.wsj.com/article/SB124102375931669205.html#mod=djemalertNEWS

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