Will Chrysler go bankrupt? The US Treasury seems to be preparing for this.
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DETROIT (Reuters) – The Treasury is preparing a Chapter 11 bankruptcy filing for Chrysler LLC that could come as soon as next week, The New York Times reported on Thursday, citing people with direct knowledge of the matter.
The Treasury has an agreement in principle with the United Auto Workers union to protect pensions and retiree health care benefits as a condition of the bankruptcy filing, the paper said.
http://news.yahoo.com/s/nm/20090423/bs_nm/us_chrysler_treasury;_ylt=Aif8...
This site needs "emoticons", so that I could use a big laughing face to respond to this news item.
The "Big Three" (actually, only 3 of the new, worldwide Big Six) are bankrupt. GM is obviously bankrupt. Now Chrysler is creeping towards the courts. And Ford? Ford had to mortgage off all its factories about a year ago, so you know damned well what's going to happen next to Ford.
But oh, they are going to load up the taxpayers with all those impossible pensions they so stupidly agreed to.
Well, I'm doing my part. Since my taxes are paying for a Ford, GM or Chrysler car ALREADY via the PBGC, I don't have cash to spare for an actual car from them. So I'm going to HAVE TO choose the Nano or something like that. {gives finger to Ford, GM and Chrysler}
"Well, I'm doing my part. Since my taxes are paying for a Ford, GM or Chrysler car ALREADY via the PBGC, I don't have cash to spare for an actual car from them. So I'm going to HAVE TO choose the Nano or something like that. {gives finger to Ford, GM and Chrysler}"
Amen brother. Amen.
MikeyA
Don't forget, your taxes are paying for a bunch of bankers and a big old insurance company too. Are you boycotting them also?
"We're all riding on the Hindenburg, no sense fighting over the window seats"-Richard Jenni