Chrysler to file for bankruptcy

Sign up today for our FREE SMF Economic Club Newsletter -- and get fresh ideas, proven tips of the trade sent directly to your inbox. Most importantly, our traders know the market. Get immediate insight and professional stock market commentary.

WASHINGTON (AP) -- Two Obama administration officials say Chrysler will file for bankruptcy protection after talks broke down with a small group of the company's creditors.

The officials spoke on condition of anonymity because the filing plan has not been formally announced.

The government had long hoped to stave off bankruptcy for Chrysler, but negotiations with hedge funds that hold its outstanding debt crumbled overnight.

Bankruptcy doesn't mean the nation's third largest automaker will shut down.

And Chrysler is expected to sign a partnership with the Italian company Fiat as early as today as part of its restructuring plan.

Watch our Trading Videos!

Posted: 4/30/2009 9:15:36 AM by StockMarketFunding | with 0 comments

Comments There are no comments on this post.

Link to this page http://www.stockmarketfunding.com, notify us and we will consider your web site to our directory

StockMarketFunding.com, LLC is not a registered broker-dealer, but rather works in coordination with fully licensed broker-dealers, SIPC-insured clearing firms, and private trading firms to provide licensed and non-licensed clients with access to career trading programs and direct access trading capabilities. Our firm and our network affiliates strongly recommend that all clients fully read and acknowledge all SEC risk disclosure statements available on our site and our affiliate broker-dealer websites prior to engaging in any live trading activity, and acquire a solid understanding of the risks inherent in all types of stock and option trading.

SMF Services

Chrysler to file for bankruptcy

Watch our Trading Videos!

My favorite websites

Recent posts

Syndication

Post archive