Chrysler files for bankruptcy, signs Fiat deal

**MIG-31** · Apr 30, 2009, 07:28 PM

DETROIT/WASHINGTON (Reuters) - Chrysler LLC -- battered for the past two years by disappearing global auto sales and the credit crisis -- filed for bankruptcy on Thursday and announced an industry-changing deal with Fiat after talks to restructure its debt broke down.

Despite weeks of intense negotiations, Chrysler failed to gain the full support from its lenders to avoid the first-ever bankruptcy filing by a major U.S. automaker.
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Source: Reuters

Falstaff · May 1, 2009, 06:33 AM

Long overdue
35 years of protectionism and bad business and loans will spell the end for GM and Chrysler, Ford will not be far behind. Obamanism will not solve this problem, let the free market decide what people want. Its high time America started building automobiles equal in quality and reliability to other manufacturers, or at least sell more.
You cant bailout something that was already on the life support to begin with.

Apr 30, 2009, 07:28 PM	#1
MIG-31 HardwareHeaven News Mod Join Date: Dec 2002 Location: Nottingham,UK Posts: 44,497 Rep Power: 244 System Specs	Chrysler files for bankruptcy, signs Fiat deal DETROIT/WASHINGTON (Reuters) - Chrysler LLC -- battered for the past two years by disappearing global auto sales and the credit crisis -- filed for bankruptcy on Thursday and announced an industry-changing deal with Fiat after talks to restructure its debt broke down. Despite weeks of intense negotiations, Chrysler failed to gain the full support from its lenders to avoid the first-ever bankruptcy filing by a major U.S. automaker. ____________ Source: Reuters __________________ Please Post Your News Submissions Here How you can help HardwareHeaven by using Digg! HH Hardware Diggs / GH Gaming Diggs

May 1, 2009, 06:33 AM	#2
Falstaff Old Codger Join Date: Sep 2002 Location: USAFA Posts: 18,565 Rep Power: 157	Re: Chrysler files for bankruptcy, signs Fiat deal Long overdue 35 years of protectionism and bad business and loans will spell the end for GM and Chrysler, Ford will not be far behind. Obamanism will not solve this problem, let the free market decide what people want. Its high time America started building automobiles equal in quality and reliability to other manufacturers, or at least sell more. You cant bailout something that was already on the life support to begin with. __________________ Transform Technology dont allow it to transform you