 Chrysler Filing for Bankruptcy, Fiat Deal Still Possible |
From CNN (and probably a zillion other news sources)...
Chrysler LLC is going to file for bankruptcy, an administration official confirmed to CNN Thursday.
The filing comes after some of the company's smaller lenders refused a Treasury Department demand to reduce the amount of money the troubled automaker owed them.
Chrysler officials had no comment on the bankruptcy report. The company faces a Thursday deadline from the Treasury Department to reach deals with creditors who had loaned the company about $7 billion.
But the filing will not mean the halt of operations or liquidation for the troubled 85-year old automaker. Instead, the administration expects to use the bankruptcy process to join Chrysler with Italian automaker Fiat.
What will Chrysler and the Jeep brand look like when they emerge?
Digg This Story
Save This Page to del.icio.usReader Reactions
The comments are owned by the poster.
We aren't responsible for their content.
You must login or register to post a comment.
| Poster | Thread |
|---|---|
| happytj | Posted: 2009/4/30 20:16 Updated: 2009/4/30 20:16 |
Just popping in   Joined: 2009/4/30 From: Los Angeles Posts: 1 |
 Re: Chrysler Filing for Bankruptcy, Fiat Deal Still PossibleI don't know how this recovering from Bankruptcy idea from Chrysler is going to work out. Thinking over between owing est. 7 billion to numerous financial companies and guaranteeing non-liquidations and continuing operations without ceasing. It seems too optimistic and unrealistic to me because of lack of funds that Chrysler has to offer. In my opinion, it looks like the opposite might happen instead of the optimism. Chrysler may be liquidated, split into 3 individuals manufacture and be sold to another company.
Jeep has been profitable and the only company that helped keep Dodge and Chrysler alive. I don't think it's a curse, an underground samaritan because it also helped AMC, Kaiser, Willys and Bantam. If Jeep does go on its own Corp, it may get some technologies from Chrysler and maybe Hummer. This is a predicted line up and this time with Pickup trucks: 1. Commander, Compass, Patriot, and Liberty, farewell. 2. Wrangler line up by 3 4x4 only models, 2 and 4 door and JT pickup called "Scrambler" 3. Grand Cherokee remain only unitized body 4x4 4. Cherokee Compact SUV and Comanche Compact single and crew cab pickup, if given Dakota chassis. 5. Gladiator J10, 20, and 30 and HD, if given Ram chassis. 6. Grand Wagoneer, if given Ram chassis 7. All Chrysler engines will be replaced by Jeep's new and improved engine technology, as well as alternative fuels such as electric, hybrid and fuel cells. 8. If given Cummins Diesel as an option I hope this may work out for the new Jeep and I would be thrilled to fix, purchase and drive a new and improved Jeep.  |
|
| Poster | Thread |
|---|---|
| myhotwheels22981 | Posted: 2009/4/30 10:50 Updated: 2009/4/30 10:50 |
Home away from home  Joined: 2002/3/22 From: Posts: 247 |
Re: Chrysler Filing for Bankruptcy, Fiat Deal Still Possible I just talked with my local dealer, and he said, which makes sense, that the Bankruptcy is being filed to force the Hedge-Fund creditors to accept an amount that is fair to all parties involved and that will make the Fiat deal happen.
Either way, if Chrysler were liquidated, Jeep would probably emerge as a stand-alone corporation...Then they would be free to build Scramblers, Pick-up's, EV's and Diesels. If they were bought out, they would still be a semi-independent division of the company that bought them out. |
|
