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Chrysler Expected To File For Bankruptcy

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Chrysler Expected To File For Bankruptcy

Business

Chrysler Expected To File For Bankruptcy

Chrysler Expected To File For Bankruptcy

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Several news reports say the U.S. Treasury is preparing for Chrysler to file for Chapter 11 bankruptcy protection as early as next week. A bankrupty filing would clear the way for Italian carmaker Fiat to complete its much-talked-about alliance with Chrysler.

RENEE MONTAGNE, host:

NPR's business news starts with Chrysler veering towards bankruptcy.

(Soundbite of music)

MONTAGNE: That prospect is edging closer. Several news reports say the U.S. Treasury is preparing for Chrysler to file for Chapter 11 as early as next week. The New York Times reports that the Treasury has an agreement with the auto workers union to protect pensions and retiree health care in the event of a Chrysler bankruptcy. Despite the dire sound of it, a bankruptcy filing would clear the way for Italian car maker Fiat to complete its much-talked-about alliance with Chrysler. Fiat's chief executive is in Washington now. He's also talking about taking over the key European division of General Motors.

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