April 30, 2009

WSJ NEWS ALERT: Obama Says Chrysler Bankruptcy Process Will Be 'Quick,' Not Disruptive

Not sure why the President is getting so involved in the bankruptcy. If a problem arises he can help with between the unions and Chrysler I can see him stepping in quickly to facilitate negotiation but otherwise stay out of the bankruptcy.

News Alert
from The Wall Street Journal

President Obama said the Chrysler bankruptcy process will be "quick" and will not disrupt Chrysler operations. In midday remarks, he said that thanks to sacrifices by the company, employees and big debtholders -- and an alliance with Fiat -- the "necessary steps have been taken" to give Chrysler "a new lease on life." He also said that GMAC has agreed to finance Chrysler sales.


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