Bankruptcy For Chrysler
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjiJRcWyS0igolw3ZHsqwOXE91SkIA1EIeE8nFnqAI942LKtZWxxfBqr92raMj67MkYvhRfFjKluIdTeLF1ru5gAAhrCQem7JWSin9qVx7cy3_9L5tUeXGq8DzSf_Pf1g4dHHf4cA/s200/Chrysler_logo_brillant.jpg)
With the UAW late Wednesday ratifying cost cuts in its contract and cuts in the money due its retiree health-care trust fund, President Barack Obama will announce a Chrysler-Fiat deal and the government’s “surgical” bankruptcy plan later today. The administration "was willing to give the holdout creditors a final opportunity to do the right thing," an administration official said. But "the agreement of all other key stakeholders ensured that no hedge fund could have a veto over Chrysler's future success."In 1979 Jimmy Carter famously bailed out Chrysler in a deal that included the government buying thousands of Dodge trucks for military use.
Labels: "celibacy", automakers, bankruptcy, Chrysler, economy