U.S. automaker Chrysler showed signs of progress with its unionized workers in its battle to stay alive on Sunday with just days left to complete deals to slash labour and debt costs or face bankruptcy. No. 1 U.S. automaker General Motors is also restructuring in an effort to secure the government funding it needs...
Posts Tagged ‘ General Motors ’
Chrysler preparing to file Bankruptcy
April 24, 2009
By SunbirdChrysler LLC is preparing to file for Chapter 11 bankruptcy protection as soon as next week, whether or not it reaches a deal with its lenders or forges an alliance with Fiat SpA, said several people familiar with the matter. If an agreement with the car maker’s lenders can be reached, Chrysler would file...
Chrysler has 19 days to decide on debt plan
April 11, 2009
By SunbirdWith 19 days to go, talks among Chrysler LLC, the Obama administration and Chrysler’s creditors have yet to produce a firm proposal for how the company’s debt should be reduced, people familiar with the process said on Friday. President Barack Obama’s auto task force says it believes reducing the debts of Chrysler and General...
