Communist
24th April 2009, 15:22
sent by socialist - economics
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Report: Chrysler Bankruptcy Could Happen Next Week (http://feedproxy.google.com/%7Er/CalculatedRisk/%7E3/_XZuJfEWyk8/report-chrysler-bankruptcy-could-happen.html)
via Calculated Risk (http://www.calculatedriskblog.com/) by CalculatedRisk on 4/23/09
From the NY Times: U.S. Is Said to Prepare Filing for Chrysler Bankruptcy (http://www.nytimes.com/2009/04/24/business/24chrysler.html)
The Treasury Department is preparing a Chapter 11 bankruptcy filing for Chrysler that could come as soon as next week ...This appears to be a prepackaged bankruptcy with the U.S. government providing DIP (Debtor-In-Possession) financing.
It sounds like Fiat would buy Chrysler's assets out of bankruptcy and the U.S. would be responsible for pensions and retiree health care benefits. According to the article, the only unresolved issue is what happens to Chrysler’s lenders.
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Report: Chrysler Bankruptcy Could Happen Next Week (http://feedproxy.google.com/%7Er/CalculatedRisk/%7E3/_XZuJfEWyk8/report-chrysler-bankruptcy-could-happen.html)
via Calculated Risk (http://www.calculatedriskblog.com/) by CalculatedRisk on 4/23/09
From the NY Times: U.S. Is Said to Prepare Filing for Chrysler Bankruptcy (http://www.nytimes.com/2009/04/24/business/24chrysler.html)
The Treasury Department is preparing a Chapter 11 bankruptcy filing for Chrysler that could come as soon as next week ...This appears to be a prepackaged bankruptcy with the U.S. government providing DIP (Debtor-In-Possession) financing.
It sounds like Fiat would buy Chrysler's assets out of bankruptcy and the U.S. would be responsible for pensions and retiree health care benefits. According to the article, the only unresolved issue is what happens to Chrysler’s lenders.