Chrysler Hires Law Firm Jones Day as Bankruptcy Counsel

RedEarth

(1000+ posts) Send PM | Profile | Ignore

Fri Dec-05-08 02:14 PM
Original message

Chrysler Hires Law Firm Jones Day as Bankruptcy Counsel

Source: WSJ

Chrysler LLC has hired the prominent law firm Jones Day as bankruptcy counsel, according to several people familiar with the matter. The firm was hired several weeks ago to help the ailing auto maker prepare for a possible Chapter 11 bankruptcy filing.

A Jones Day spokesperson declined to comment. A Chrysler spokeswoman couldn't be reached.

Chrysler's move suggests the auto maker is preparing for imminent financial failure should its efforts to persuade Congress to deliver federal rescue funds fall short. Chrysler, which is majority-owned by private-equity firm Cerberus Capital Management LP, says it needs a $7 billion capital ...

Read more: http://online.wsj.com/article/SB122849949643583239.html

Printer Friendly | Permalink | | Top

Wapsie B

(1000+ posts) Send PM | Profile | Ignore

Fri Dec-05-08 02:27 PM
Response to Original message

1. I wonder how all this is affecting sales?

Printer Friendly | Permalink | | Top

RedEarth

(1000+ posts) Send PM | Profile | Ignore

Fri Dec-05-08 02:35 PM
Response to Reply #1

3. It will cripple sales of new cars

Most people won't want to buy a car from a company in bankruptcy or considering filing for bankruptcy due to warranty and the prospect of lack of replace parts.

Printer Friendly | Permalink | | Top

sarcasmo

(1000+ posts) Send PM | Profile | Ignore

Fri Dec-05-08 02:28 PM
Response to Original message

2. So it begins, the final nail in the coffin.

Printer Friendly | Permalink | | Top

Critters2

(1000+ posts) Send PM | Profile | Ignore

Fri Dec-05-08 02:37 PM
Response to Reply #2

4. Congress needs that money to bailout the next bak that calls Paulson. nt

Printer Friendly | Permalink | | Top

DU AdBot (1000+ posts)

Wed May 08th 2024, 04:43 AM
Response to Original message

Advertisements [?]

Top

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.