SHOOT: I drive one (and its in for repairs) but I haven't been impressed by anything innovative from them probably in the last decade if not more. They've focussed on big and flashy and stubbornly ignored an attempt to do or be something else. Ford is also headed for the rubbish dump.
DETROIT — The Treasury Department is preparing a Chapter 11 bankruptcy filing for Chrysler that could come as soon as next week, people with direct knowledge of the action said Thursday.
If no agreement is reached between the government and Chrysler’s lenders, a nasty legal fight could emerge in bankruptcy. A bankruptcy filing by Chrysler would be the first among Detroit’s troubled automakers, who have been mired in a devastating sales slump since last fall. Treasury is also working with General Motors to prepare a possible bankruptcy case, and the terms of a Chrysler filing might offer a glimpse into the shape of G.M.’s own filing.
Once Chrysler emerges from bankruptcy protection, it would largely be owned by Fiat, the U.A.W., the Treasury and its lenders, these people said. |
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