chry to declare BK TODAY!
 

from yesterday

Bloomberg is reporting that President Barack Obama is expected to announce tomorrow that Chrysler will enter Chapter 11 bankruptcy before signing an alliance with Italian automaker Fiat. Under the deal, Chrysler's most valuable assets would be sold to a new "entity." Fiat is expected to take a 20 percent ownership stake in Chrysler, a union retiree health-care trust fund would own 55 percent, and the rest of the company would be owned by the U.S. government.

http://www.bloomberg.com/apps/news?p...d=a97rZxZqE4S8

fuck that

If it wasn't such an impact on the MI economy I'd say fuck them and let them go out of business, but we already have the highest unemployment rate in the nation at 12%. Thank god somebody is looking out for us.

I would rather the gov give out welfare to people by giving them a chance to get/keep their job, than just handing them money.

If the union and the government run Chrysler like they have handled their own affairs for the last 20 years...it will just be another hole in the water they are trying to drown us all in.

we're fucked. plain and simple. my vote goes toward liquidating the company's assets to various enities that can actually RUN a business, and give the unions the boot.

And what auto company wants to buy more capacity right now?

they did file:

http://www.reuters.com/article/domes...53T6N120090430

You gotta admit, Obama is keeping his promise to the union. They put 100 mil into his campaign, and now he is giving them both Chrysler and GM...

I wonder how much the Fiat 500 is gonna cost.