One down.....

[tiffo60]

Or grounded for a short while, Chrysler filed for bankruptcy and looks to be partnering up with Fiat who could have controling interest by 2016....

http://www.msnbc.msn.com/id/30489906/?GT1=43001

[ZeusSVT]

Gotta love this part from obama....:tex


“No one should be confused about what a bankruptcy process means,” President Barack Obama said in a midday announcement. “This is not a sign of weakness but rather one more step on a clearly chartered path to Chrysler’s revival.”

:hammer:

[my2002lightning]

Looks like GM is right behind them, too.:tex


General Motors, which has borrowed $15.4 billion from the government, has until June 1 to shrink its teetering debt load and reach its own deal with the union to qualify for more assistance. GM CEO Fritz Henderson has said the company still prefers to restructure outside of court, but he acknowledged that bankruptcy has been getting increasingly more likely.