Reuters – Chrysler Group LLC, the automaker managed by Fiat SpA , plans to file reports with the U.S. regulators divulging updates of its business and financial condition, the company said on Friday.
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Read More »President Barack Obama believes a quick, negotiated bankruptcy is the most likely way for General Motors Corp. to restructure and become a competitive automaker, people familiar with the matter said.
Obama also is prepared to let Chrysler LLC go bankrupt and be sold off piecemeal if the third-largest U.S. automaker can’t form an alliance with Fiat SpA, said members of Congress who were briefed on the GM and Chrysler situation before the president said two days ago that the automakers’ viability plans were insufficient.
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