That would be Chapter 11. After a rather confusing mix of forfeitures, cash infusions, and trades Chrysler will emerge under a board run by our government, Canada, the union trust fund, and Fiat who will end up with a controlling interest if all goes well.
President Obama said the “necessary steps” had been taken to give Chrysler “a new lease on life”.
BO knows autos…
Comments on this entry are closed.