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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: sandintoes who wrote (35046)	4/23/2009 11:09:08 PM
From: DuckTapeSunroof	Read Replies (1) \| Respond to of 71588

Re: "Let them go bankrupt rather than government owned." I expect that they will... unless Fiat pony's up for them.

To: sandintoes who wrote (35046)	4/24/2009 1:50:06 PM
From: DuckTapeSunroof	Read Replies (1) \| Respond to of 71588

Why Chrysler Needs to Declare Bankruptcy 7 comments by: Felix Salmon April 24, 2009 \| about stocks: F / GM seekingalpha.com If Chrysler does come to some kind of agreement with its banks — which is by no means a foregone conclusion — then why would it still want to declare bankrutpcy next week? The WSJ gets half of the story when it says that bankruptcy “would let Fiat pick and choose which operations it wants”, but then goes and confuses matters by saying that Fiat is interested in Chrysler “in its totality.” The answer is that it’s all about the dealers — which are the reason why I said GM should declare bankruptcy as long ago as last July. Detroit is hobbled greatly by its legacy contracts with its dealers, and bankruptcy is the only way of getting out of those contracts. In many ways, I suspect that the dealers have the most to lose from bankruptcy proceedings. Lucky they don’t have a particularly strong and unified lobby, I guess.