Chrysler to Announce Bankruptcy

Maybe, but what if the FED outlaws modified automobiles? Don't laugh too loud...It HAS happened in other countries. And once again, I say...we should have paid more attention to George Orwell!

 

I believe chapter 11 is immediate liquidation of company ***ets. With that said, I wonder if the prices on Chrysler cars/parts are gunna be cheap as hell ????

 

Interestingly, I ordered some parts from Speedway today and happened to get a salesperson I know quite well and was asking him if they had anything new. He commented that Smith had just bought a large number of the new style Hemis and related parts to make them run. Do I hear Chrysler CLOSE OUT?

 

I like your way of thinkin.

 

Hey, with Banrey running Chrysler, it won't last the year. There goes a few trillion $$$$

 

I never thought id see Toyotas winning at nascar ether.

 

True but it was in the contract already LONG before this all happened.

 

The "plan" that I've heard is that Fiat will get 20%, the UAW will get 55% and Diamler will still own the 19.9% they have had all along. Let's see that leaves about 4.1% for the government or 'someone'???

 

Chapter 11 is reorganization, with the debtor in posession, and court oversight. That's why the government has some control over what happens to Chrysler, in addition to the control they have through the money they gave to Chrysler, which makes the government a creditor.

Chapter 7 is liquidation.

Chrysler has a lot of contracts and liabilities which prevent them from being able to reorganize without bankruptcy, that's why they have to file to be able to put this plan into effect.

Let's all keep in mind that Chapter 11 bankruptcy for a company does not mean that Chrysler is going to cease all operations, and it also does not necessarily mean that Chrysler is going to go away forever. That remains to be seen.

 

Amen Brother!