Chrysler goes belly up

Discussion in 'Current Affairs, News and Analysis' started by jagman, Apr 30, 2009.

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  1. I wanted a Dodge Ram, too :( .
     
  2. I'm sure there will be lots of them going cheap right now. Chrysler had no problem building cars, just nobody buying them....
     
  3. With Rams coming in a range of engine sizes, from 3.7L to 8.3L, I don't think it'd be economic to run one at the minute :twisted: .
     
  4. <---doesn't know anything about economics.
    I did 4 months of business studies at 16 and nothing since :) .
     
  5. Difference noted.
    The Times simply says bankrupt but I get the distinction
     
  6. Filing Chapter 11 will protect the business from bankruptcy proceedings by its creditors, while it works out how to restructure its business in such a way as it can emerge as a viable business again on emergence the business is responsible to a team who will ensure it is following its business plan to a) pay off all its outstanding debts, b) to fulfill the terms of any loans/budgets that the business used to restructure. Full bankruptcy is extremely rare in the USA and is known as filing Chapter 7.

    It is a better method of restructuring a business than that employed here, as it gives the creditors a fighting chance to regain payment. If Chapter7 is filed creditors would gets cents on the $ if anything at all.
     
  7. Haven't Volkswagen Group expressed an interest in buying Chrysler?