Here’s an ominous observation we stumbled across on the New York Times website – want to have a stab at what all those map points are for?
Tag Archives: bankruptcy
Chrysler is bankrupt. To a British ear that sounds pretty stark, but in the US it means something rather different – ‘chapter 11 bankruptcy‘. It will keep operating, but it will be able to fend off its creditors and try to renegotiate its debts.
This week it looks like we’ll see whether the American car industry will be thrown a lifeline. GM, Ford and Chrysler want $25billion in soft loans. If Congress doesn’t agree to hand over the dough immediately, GM will very possibly go insolvent in early January. And shut down. Holy cow. Think of the consequences.
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