Sorry for the short diary:
CNBC is reporting Bankruptcy Judge Arthur Gonzalez has approved the sale of "New Chrysler" to Fiat, The US and Canadian Government, and the UAW Health plan.
This comes a few hours before General Motors goes into bankruptcy court this morning (Eastern)
CNBC Story
There is one part of the story that scares me:
Lawyers for consumer groups, tort claimants and injured customers and workers also argued against the deal, saying that plans by "New Chrysler" to leave their liabilities with the old company were improper and that no one would stand behind the cars Chrysler has made and sold prior to its bankruptcy. (emphasis added)
There is one part of the story that scares me:
Lawyers for consumer groups, tort claimants and injured customers and workers also argued against the deal, saying that plans by "New Chrysler" to leave their liabilities with the old company were improper and that no one would stand behind the cars Chrysler has made and sold prior to its bankruptcy. (emphasis added)
If this is true, it would hurt more people than one would think. Though people knew it was ailing, Chrysler has sold cars that last year, and the last weekend for that matter. If THOSE warranties were dead, who knows what would happen.