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Friday, May 1, 2009

BANKRUPTCY >>> Chrysler Goes Under

Headlines & Tickers

After months of struggling to stay alive on government loans, Chrysler finally succumbed to bankruptcy Thursday, pinning its future on a top-to-bottom reorganization and plans to build cleaner cars through an alliance with Italian automaker Fiat.
http://www.thestreet.com/story/10494798/1/a-chrysler-creditor-blinks.html
'The Perella Weinberg Partners' Xerion Fund has today agreed to the Chrysler settlement offer extended yesterday to the secured lender group.'
http://www.thestreet.com/story/10494514/1/chrysler-bankruptcy-filing-could-impact-gm-debt-deal.html President Obama criticized some hedge funds that did not go along with a debt deal on Chrysler, which could pressure GM bondholders to play ball.
Some lenders refuse offer to reduce debt, leading to Chapter 11 bankruptcy filing. But Chrysler will remain in business and completes deal http://money.cnn.com/galleries/2009/autos/0904/gallery.chrysler_trouble/index.html
Chrysler was king but a string of uninspired products have destroyed its reputation. More


A look at the most important cars in the company's history as the carmaker faces another major turning point.

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