Chrysler bankruptcy

April 30, 4:37 PMTampa Sports Car ExaminerMichael Berenis

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We all knew it was coming; once one falls the others follow suit. Chrysler bankruptcy is no exception to the rules. The economy and current financial situation of the customer base for these companies is converting to used cars as opposed to new vehicles. The used car industry and sub fields that support it like mechanics, auto parts, performance parts, and others are all blooming amidst times of peril. The Chrylser bankruptcy could have been seen coming as long ago as 2007 when Mercedes-Benz left the scene.

Chrysler bankruptcy statistics:

• Filing for chapter 11 bankruptcy status
• Bankruptcy features ajoinment with Fiat Spa
• Complete bankruptcy within 30-60 days
• Restructuring aid money = $4.5 Billion
• Assets rated @ .33 cents per dollar
• Fiat 20% ownership

This "Chrysler bankruptcy" is more of a merger than anything. Mergers of companies this big would take years to accomplish. With minimal obligations regarding the larger of the two merging parties, Chrysler can more effectively merge. A bankruptcy is not always bad, and it doesn't indicate job cuts.

What is Chapter 11 bankruptcy?-wikipedia

"Chapter 11 is a chapter of the United States Bankruptcy Code, which permits reorganization under the bankruptcy laws of the United States. Chapter 11 bankruptcy is available to every business, whether organized as a corporation or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. In contrast, Chapter 7 governs the process of a liquidation bankruptcy, while Chapter 13 provides a reorganization process for the majority of private individuals."-http://en.wikipedia.org/wiki/Chapter_11

Common questions about Chrysler bankruptcy

1. Will I lose my job?
   • Answer: Not likely, see this article. "No significant white or blue collar job cuts."
2. Will Chrysler produce Fiat vehicles in the USA?
   
   • Answer: Yes, see this article. "Punta and Panda"
3. How much government aid money is going to Chrysler?
   • Answer: $4.5 billion, see this article.

Video content: Chrysler bankruptcy chapter 11 explained

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Read more about the author's car at http://subaru-offroad.blogspot.com