Obama Expected to Declare Chrysler Bankrupt

President Obama is expected to declare Chrysler bankrupt tomorrow, Bloomberg news service reports. The  story is breaking right now and has not been picked up yet by major wires.

Last month Obama delivered an ultimatum to the automaker, telling it to adopt immediate and radical changes or face bankruptcy. Many industry analysts think a controlled bankruptcy might be the best way to reorganize America’s ailing auto giants.

Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!

Be the first to comment

Leave a Reply

Your email address will not be published.


*

This site uses Akismet to reduce spam. Learn how your comment data is processed.