(* Question mark added for plausible deniability.
) They've been talking about it for a while, and today Chrysler is expected to announce it's filing for Chapter 11
. The company had been trying to work out a deal with its lenders, but they won't take the necessary losses of their own volition
, so bankruptcy is what's left. The Obama Administration is optimistic: 30 to 60 days, says Joe Biden
, and they'll reorganize into a powerhouse! Despite its impending bankruptcy, Chrysler has also apparently formed an alliance with European car company Fiat SpA
which may expand into a full-blown partnership. We'll know more when Obama speaks on the issue at noon.
Update: As usual The Smart Asset has more and better.