May
02
The Chrysler will probably be messy. First, it has to get through the court battles as Chrysler lenders object to the move into Chapter 11 bankruptcy protection under the government brokered deal. That's likely to delay any recovery plan.
And who will be the winners out of this? As always, it will be the lawyers, bankers and accountants with Bloomberg reporting they are likely to make at least $200 million by the time the case is wrapped.
Nice to know someone's making a profit out of this mess.
With Chrysler now in bankruptcy, our attention will turn to whether Obama’s promise of a short and surgical bankruptcy, coupled with an alliance agreement with Fiat, will ultimately be realized. http://pfx.me/lK