Chrysler to file for bankruptcy

http://ca.news.yahoo.com/s/reuters/090430/business/cbusiness_us_autos

DETROIT/WASHINGTON (Reuters) - Chrysler LLC is expected to file for bankruptcy on Thursday after talks to restructure its debt with lenders broke down, a U.S. government official said.

Despite intense negotiations over the past few weeks, Chrysler failed to gain the full support from its lenders that it needed to move forward with a restructuring and avoid the first-ever bankruptcy filing by a major U.S. automaker.

The Chapter 11 filing, which sources said would be done in U.S. Bankruptcy Court in Manhattan, will send shock waves through the entire auto industry -- including Chrysler's rivals, suppliers, dealers and the many hundreds of thousands who rely on the industry for their livelihoods.

That sucks. Personally I drive a Chrysler and love it! Very smooth ride. And I have a Dodge full-size van. So don't blame me for their downfall. (But I guess you could blame for for GM's)......

I love my Jeep. I hope that brand survives.

I'm sending positive thoughts in Chryslers direction.

My first car: '73 Dodge Dart 340 Sport (not a Duster), boy those were the days.