Thursday, April 30, 2009

Chrysler Declares Bankruptcy

It's bankruptcy for Chrysler.
"The bankruptcy filing could serve as a preview of what a filing by General Motors might look like. G.M., which like Chrysler received federal assistance last year, faces a June 1 deadline for its own restructuring," reports The New York Times. "Chrysler said that as part of the restructuring, it would idle most manufacturing operations beginning Monday, and resume production 'when the transaction is completed, which is anticipated within 30 to 60 days.'"

No comments:

Post a Comment

Thanks for commenting. I moderate comments, so it may take a while for your comment to appear. You might enjoy my book about Flint called "Teardown: Memoir of a Vanishing City," a Michigan Notable Book for 2014 and a finalist for the 33rd Annual Northern California Book Award for Creative NonFiction. Filmmaker Michael Moore described Teardown as "a brilliant chronicle of the Mad Maxization of a once-great American city." More information about Teardown is available at