Chrysler Bankruptcy Protection Revealed
 Thursday, April 30th, 2009 by Connie T.
Well, experts said this day would come. Automaker Chrysler (remember our beef
with them two years ago, for outsourcing?...guess that didn't go so well) announced today
that they are filing for bankruptcy protection, and simultaneously entering into agreements with
Italian auto company Fiat. Chrysler's status on Wiki has been updated to: "Fate: Chapter 11 Bankruptcy."
It was filed
in US Bankruptcy Court in New York, and the first hearing is tomorrow morning.
President Barack
Obama said today that he has "every confidence that Chrysler will emerge from this process
stronger and more competitive." He also thanked the UAW for making sacrifices on behalf of the
auto giant. We hoped he mentioned to Chrysler, in their talks, that they are
not eligible for tax cuts due to their outsourcing of American jobs, as
mentioned during his campaign...
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