Chrysler bankrupt already?

Jstas
Jstas Posts: 14,806
edited December 2008 in The Clubhouse
Chrysler Hires Bankruptcy Firm Jones-Day

The WSJ is reporting Chrysler hired bankruptcy firm Jones-Day "several weeks ago" to "prepare for imminent financial failure." More below the jump.

All we have so far is directly from the top of the WSJ web site:
"Chrysler several weeks ago hired the prominent law firm of Jones Day as bankruptcy counsel, suggesting the auto maker is preparing for imminent financial failure should its efforts to obtain federal rescue funds fall short."

Jalopnik link:
http://jalopnik.com/5102686/report-chrysler-hires-bankruptcy-firm-jones+day

Referenced Wall Street Journal article:
http://online.wsj.com/article/SB122849949643583239.html?mod=
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Comments

  • markmarc
    markmarc Posts: 2,309
    edited December 2008
    Seems like a prudent step from a business POV.
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