Posted By: Tsu-Han (Ina) Chang
After Chrysler decides to take a month off, U.S. suggests a prepackaged filing may be the way to go.
It's like a game of poker where you can't figure out who is bluffing. The U.S. government on Thursday indicated it was considering managed bankruptcy as an option for the auto industry, a day after Chrysler said it would close all of its factories for a month, idling 46,000 workers.
Chrysler's move may in part be a ploy to gain public sympathy and government funding, but it makes itself look too pathetic, other solutions might present themselves.
"There's an orderly way to do bankruptcies that provides for more of a soft landing--I think that's what we would be talking about. That would be one of the options," said White House spokeswoman Dana Perino on Thursday.
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After Chrysler decides to take a month off, U.S. suggests a prepackaged filing may be the way to go.
It's like a game of poker where you can't figure out who is bluffing. The U.S. government on Thursday indicated it was considering managed bankruptcy as an option for the auto industry, a day after Chrysler said it would close all of its factories for a month, idling 46,000 workers.
Chrysler's move may in part be a ploy to gain public sympathy and government funding, but it makes itself look too pathetic, other solutions might present themselves.
"There's an orderly way to do bankruptcies that provides for more of a soft landing--I think that's what we would be talking about. That would be one of the options," said White House spokeswoman Dana Perino on Thursday.
Click here to read more
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