According to the WSJChrysler will file for a Chapter 11 bankruptcy. President Obama is set to speak at noon about the car industry.
The negotiations with lenders about cutting the debts have failed.
It tough to say what will happen with Chrysler under the Chapter 11 bankruptcy protection.
It will be interesting to hear what President Obama is saying about the future of Chrysler. The car industry has to change dramatically to be sustainable in the future. Update: Chrysler enters partnership with Fiat to create a new company. Via this Chrysler announcement.
Luigi Lugmayr Luigi Lugmayr (Google) is the founding chief Editor of I4U News and brings over 15 years
experience in the technology field to the ever evolving and exciting
world of gadgets. He started I4U News back in 2000 and evolved it into
vibrant technology magazine.
Luigi can be contacted directly at email@example.com.
DeMarco Murray Makes NFL History
Dallas Cowboys running back DeMarco Murray made history when he ran for 149 yards in his team's 38-17 win over the New Orleans Saints on Sept. 28. By doing so, Murray became just the fourth player in NFL history to record four consecutive 100-yard games with a touchdown to start a season.
Kenya Moore gets a more Permanent Role in RHOA
With the release of the new trailer for Season 7 of the Real Housewives of Atlanta, we will see Kenya Moore and her fellow newbie stars in more permanent roles than some much more experienced stars that have been bumped off the show.