Mar
11
This recession has affected all Americans no matter of what business and they are facing a very tough challenge. One among the damaged company is automobile giant Chrysler LLC. The talks the company had with the bondholders collapsed resulting in filing for chapter 11 bankruptcy. Manhattan US Bankruptcy Court is the place where the Chapter 11 filing will take place. This incident would be a very bad news for entire auto industry as many people in the US rely on this for livelihood. Others those who rely on this company like its suppliers, distributers, producers including their close competitors will have an adverse effect. The deal with the fiat company is not ruled out.