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.