General Motors and Chrysler want to bankrupt for survive
According to informed sources, General Motors and Chrysler will consider accepting the pre-arranged bankruptcy as a life-saving assistance from the Government. GM Chief Executive Officer RickWag-oner said the bankruptcy meant liquidation. However, one member of the board of directors GeorgeFisher said that bankruptcy is also an alternative project.
Chrysler has hired law firm as the bankruptcy consultant
The informed source said that Chrysler LLC has hired a well-known public international law firm (Jones Day) as a legal adviser to bankruptcy matters. As there is the possibility to make bankruptcy application, Chrysler in a few weeks ago had hired the law firm to help prepare for this issue.
Three Giants (General Motors, Ford, and Chrysler) in U.S. auto industry are on the brink of bankruptcy
CEO of three auto manufacturing giants ((General Motors, Ford, and Chrysler) again met in Washington; they request the National Assembly to loan 34 billion U.S. dollars to meet their urgent needs. Two weeks ago on November 18, they came to Washington once for the same purpose – to apply for loans from the Congress.
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