Word on the wire is that US President Barack Obama will announce that Chrysler LLC will be placed into Chapter 11 bankruptcy, a move which will enable Chrysler to continue operations while temporarily relieving it of its substantial debt obligations.

Chapter 11 bankruptcy protection has been a likely option for some time now, and, perhaps strangely, [...]

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After lengthy negotiations Daimler has finally separated itself from Chrysler, with the announcement this week that the German company will return its remaining 19.9 percent stake in the struggling automaker.

Chrysler, Cerberus Capital Management (the current majority stakeholders in Chrysler) and the US Pension Benefit Guaranty Corporation came to an agreement with Daimler on Monday. The [...]

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The credit crisis continues to adversely affect the North American market, with reports that new car buyers are continuing to find it difficult to obtain credit to finance their new car purchases. As a result, Chrysler LLC has announced that it will make significant adjustments to the production schedules of its manufacturing operations.

The ‘significant adjustments’ [...]

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