http://www.google.com/hostednews/ap/article/ALeqM5jjHS8S3jIndU2oI6WHB_KqB-pvwAD97STLKO4 It's a good thing our president said this bankruptcy will last 30 to 60 days. Any longer and all those idle employees would start to get worried. Also how does a company go into bankruptcy and its pension liabilities are NOT dumped on the Pension Benefit Guarantee Corporation. If Chrysler will now be operated not to seek profits but to support the government and UAW, how will hey ever compete in a free market place. The government is going to have to heavily subsidize Chrysler if it hopes to keep it out of bankruptcy again.
Chrysler has a unique accounting system. Instead of FIFO or LIFO inventory control methods, they've elected for GIGO and and that's what's put them in this place.
This company is toast. The only thing yet to be determined is how much government money is sunk into this black hole before the US moves towards fiscal conservatism.
Chrysler is basically good assets: Jeep, pickup trucks and a minivan business, weighed down by lousy cars, debt and union.
2 months shutdown for starters. Same as GM. We'll now see how much the values/prices drop. The increasing ranks of unemployed and underemployed won't be buying new cars any year soon.
Right, in 2 months everything will be back to normal, a company that size does not enter in and out of bankruptcy in only 2 months.