Chrysler bankruptcy plan in basic terms?

S

Sammy #2

New member
HI,

Please tell me the Chrysler bankruptcy plan in simple terms. I'm not familar with economics very much and I don't understand how merging with Fiat will pay their debt in the next 30-60 days. What are the details in basic terms?

The most clearly explained answer that also includes a relevant and reliable link will get best answer.

PS.I've read a lot of links already and don't get it still.

Thanks.
 
Chryslers "bankrupty" is nothin to worry about. They filed for bankrupcy protection. This means that the companies they owe money to cannot call thier loans untill the government says so. They are resructuring the company (merger with fiat, deals with creditors and unions, deals with parts suppliers) To cut costs. When they acomplish this the government will give them more money. This will allow them to pay there employes so they can keep making vehicles and stay in buisness.
 
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