Chrysler Files for Bankruptcy on Thursday

Chrysler, the third biggest car maker in the United States, filed for Chapter 11 bankruptcy on Thursday. Although the company has been fighting for ways to avoid bankruptcy in recent months, their creditors continued to fight for their money and Chrysler decided it had no other option.
Already living off of federal bailout money, Chrysler will now get more bailout money — as much as $8 billion more. After filing in New York, the company says that they will attempt to restructure within the next month.
In the restructuring process, Chrysler will reportedly look to change many aspects. They will try …read more