Thursday, April 30, 2009

Obama: Chrysler to file Chapter 11; Fiat merger approved

President Barack Obama spoke just minutes ago at the White House to announce that the Chrysler-Fiat merger has been approved by the United States government and that Chrysler will file for Chapter 11 bankruptcy protection. The "surgical" bankruptcy will take 30 to 60 days and require up to $8 billion in government loans.

read more | digg story

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