Looks like chapter 11 restructuring is imminant. Reports are Chrysler will file later today.
http://money.cnn.com/2009/04/30/auto...line/index.htm

 

yeah i get text messages from CNN and it says they are going to file.

 

Chapter 11 is ok, they will now be able to reorganize in prep for Fiat taking over.

 

all i wanna know is one thing .. will production stop during the bankruptsy procedures ?? given CHAPTER 11, does that mean we are screwed on parts for '09's ? And are warranties still good during and after restructuring ??

thanks

 

I think it just means that Chrysler will now be owned by taxpayers instead of privately.

 

No, that's not exactly what it means. Chrysler will be restructured. People who own Chrysler debt will receive partial payment or most likely they'll receive an equity stake in the company. So, Chrysler will be owned by their debtors and one of those debtors will be the government, but they will not be a majority.

 

Here's an updated article:

http://money.cnn.com/2009/04/30/news...ney_topstories

Chrysler factories will continue operating, dealers will continue selling cars/trucks and our warranties are still valid.

 

https://dodgeforum.com/forum/brand-n...discussion-29/