Talks between the Treasury Department and lenders aimed at keeping Chrysler LLC out of bankruptcy broke down late Wednesday, making it all but certain that the car maker will file for Chapter 11 protection Thursday, according to people familiar with the discussions.
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Obama administration official: Chrysler will file for bankruptcy now that negotiations with creditors have collapsed.
Should be interesting to see what happens to those union contracts now.
yea I wonder if there gonna start fresh with a bunch of new hire’s for the plants, or just negociate wages again
If by “negotiate”, you mean, “this is what we’ll pay you, take it or get the fuck out and we’ll hire someone new to do your job” then yeah, I think they’re going to negotiate with the existing union employees.
That’s the best thing for them I think. start over, they have by far the worst cars of the big three, maybe now they can afford to develop (or buy from say Fiat) some good designs.
Ford: Doing ok.
GM: Cleaning house, going to be fine, some good cars there.
Chrysler: Starting over? What about warranty?
And so begins the rebirth of the American auto industry. God knows this has been a long time coming.
Yeah it’s probly for the best anyways, but I must say I drove a SRT8 300C and it was very nice and was way faster then I expected for such a huge car!
The 300 and all the cars built on that platform benefited from the brief Daimler ownership. They basically got a nice Mercedes chassis, stripped down a little bit, to drop their bodies on.
That thing got a hemi in it?
Probably not any more. 
Yeah, but after driving one or three, I’ve been totally dissapointed.
I like the way they say “talks broke down”. Translation = So far the plan is going according to schedule.
Can Chrysler shit can all of their legacy costs, etc?
What will this mean for GM and Ford?
All of a sudden Chrysler looks more competitive.(Maybe)
So, hoe about the “lifetime warranties?”
I would think they would fall under the “backed by the full faith and credit of the US Gov’t” thing…unless that was only going forward
My question is…They had to have know this was coming, (well if they were smart and looked at the books for Chrysler) why did they not make them do this before they gave them billions? They should have made them file, restructure in BK court, and then give them money to help them out.
It really is about time all this happened. It pains me to think of all the time and money wasted up to this point.
http://www.foxnews.com/politics/first100days/2009/03/31/details-obamas-auto-warranty-plan-emerges/
According to this article it was going forward only.
^Going forward and maybe only before the bankruptcy.:gotme:
Maybe all bets are off now.
Who’s going to honor the gas deal???
I will.
That’s kind of what’s going on right now. Well, that’s exactly what’s going on right now.
It entertains me that these companies report losses of millions per day yet people still want to bail them out…
Seriously? How the fuck do you lose millions a day and just not talk about it?
They missed the industry curve… the failed… let them go bankrupt and move on. If my company failed becuase we didn’t respond to a changing market or produce a product people wanted, is the government going to bail us out? No.