As projected, one just about done, the other well overdue>
Chrysler Talks Falter;
Chapter 11 Imminent
Talks between the Treasury and lenders aimed at keeping Chrysler out of bankruptcy broke down, making it all but certain that the car maker will file for Chapter 11 protection.
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Feb. 23 - Was a day of drama, and the US is looking real FUBAR.
I am not seeing an easy way out of this mess anytime soon.
I sold all of my C stock and options, and the BAC stock, kept the call leaps.
Booked enough for a new Hyundai! (Elantra)
Actually, glad to get out with a profit, these things are
starting to look terminal.
And speaking of terminal, the WSJ had a big story regarding the various ways GM could do a bk, and I think that will be the end point, a matter of when, not if.
No way Chrysler survives, they will go first.
GM put Saab into bk last Friday.
F might be the lone member of the big 3 to stay out of bk.
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Of interest, SWHC & RGR both up on the day.
Makes sense, buying protection, and maybe .22 ammo is the next 'hard' currency?
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Of double interest, we surpassed the 1000 point move
Message 25391288
and went straight for the 1997 level. |
