April 30th, 2009
09:01 AM ET
14 years ago

BREAKING: Chrysler to file for bankruptcy, official says

WASHINGTON (CNN) - Chrysler plans to file for bankruptcy, an Obama administration official said Thursday.

Full story


Filed under: Auto Bailout • Obama administration
soundoff (87 Responses)
  1. Baze

    About time. Chrysler's a disaster. Crisis-ler.

    April 30, 2009 09:41 am at 9:41 am |
  2. Tommy

    Good! They make lousy cars anyways and the cost is Outrageous Now I would like to see if they sell some of the inventory at a lower price. SUV's have been obsolete!

    April 30, 2009 09:41 am at 9:41 am |
  3. indiana voter

    I'm so glad that we threw a bunch of taxpayer money at it first. That was a great success. (sarcasm) Nothing like throwing money away.

    April 30, 2009 09:42 am at 9:42 am |
  4. Larry

    Good,this will save Chrysler and the country !! Bad news for the Dems and the Unions.

    April 30, 2009 09:43 am at 9:43 am |
  5. Proud Toyota Owner

    As it should be. Maybe now they can get rid of the union and starting making a decent product.

    April 30, 2009 09:44 am at 9:44 am |
  6. rob

    they are still good cars in their line up. might be a good time to buy one if they offer deep discounts in the process. i wish them luck in restructuring and to the families which may be affected.

    April 30, 2009 09:44 am at 9:44 am |
  7. Simple Truth

    They should have let the financial sector go into bankruptcy as well. Smaller more effective banks would have quickly picked up the slack.

    April 30, 2009 09:45 am at 9:45 am |
  8. Biff

    can someone tell me how much money we have given them through tax dollars? they could have filed before we tried to bail them out and we would have had the same outcome.

    GM is the next to file for bankruptcy. Then the United States of America will file for bankruptcy.

    April 30, 2009 09:46 am at 9:46 am |
  9. paul moyer

    both GM and Chrysler should have filed chapter 11 from the get go. then the courts would have forced them to take corrective action to succeed or fail

    April 30, 2009 09:48 am at 9:48 am |
  10. dp

    last year we gave them what they wanted with no idea on INSPECTING WHAT WE EXPECT. when you are the one giving out money or investing in something you control it–end of story. last year was an example of nobody being in charge, just give it out with no strings, and now those same people are talking about how the government is starting to own businesses. the government acts one our behalf so to have someone making everyone responsible is what should of happened last year.

    April 30, 2009 09:49 am at 9:49 am |
  11. Bill

    So we throw millions of dollars away because the Obama administration insisted that it was our responsibility to save the automakers and then after the Unions and others that Obamo owed favors to, were paid off, it's OK to let the automakers file bankruptcy???

    Filing bankruptcy now is no different than it would have been before the American people were robbed of millions of dollars.

    Why are the American people not totally outraged at this administrations incompitency.

    April 30, 2009 09:55 am at 9:55 am |
  12. DEM in HI

    So there goes $4 billion dollars down the drain. What a deal!!! Wonder how the taxpayer will ever see that money again. Congress and the people in Washington don't get it. Main St is tired of the Wall St fraud, waste, and bonuses while we get stuck with the bill with no help to the taxpayer. $13 a week rebate is a joke.

    April 30, 2009 09:57 am at 9:57 am |
  13. Harry

    It started with the Regan administration in the 80's "Breaking the unions (PATCO) form example. He was directly involved in forcing the union employees back to work Remember?. Now the "No" republicans are crying about Obama getting to envolved with American business. In other words its ok for a president to break the backs of the unions, but now its not ok to for Obama to get iinvolved with the auto business. .

    Today with the chysler shareholders not wanting to give in to consession for the good of America and the working class people is a real good example of the greed and power of the Republican party and greedy American business's. I am watching my fellow co-workers getting dumped and treated unfairly with no respect, or protection because we are not allowed to even talk about a union where we work. I believe there needs to be a radical change in the way corporate America is allowed to treat its assits ("the American worker")

    April 30, 2009 09:57 am at 9:57 am |
  14. Nelson Colorado Springs Co.

    Chrysler needs to put freeze on shareholder profits ask the employee to take a 10% paycut this will be hard but it mite save jobs. for the next year CEO no bonuses. offer retirement, stop smoke break. There are other thing Chrysler can do.

    April 30, 2009 09:58 am at 9:58 am |
  15. pam Eugene OR

    I am sure they will come out stronger if they do the right things while they reorganize. It had to happen.

    April 30, 2009 09:58 am at 9:58 am |
  16. Kevin S.

    Not a surprise. This happened before, and we bailed them out multiple times, and it still didn't work. But this isn't a bad thing. Daimler lost billions when they sold Chrysler. Then the taxpayers took a hit. Finally, Chrysler is doing what they should have done in 1980 – and any other company would have done – gone bankrupt.
    This isn't a bad thing. This just is how the companies move forward.
    In a market, you have failures. In a saturated market, this was just bound to happen sooner or later – only the stronger companies will survive.

    April 30, 2009 10:03 am at 10:03 am |
  17. Obama Victim

    another industry lost to union greed

    April 30, 2009 10:07 am at 10:07 am |
  18. Kyle

    Do away with the Unions and it will all be ok. Wage inflation is what is killing the American Auto Industry. How come Toyota can pay a lot less in wages yet they build so much better vehicles?

    April 30, 2009 10:09 am at 10:09 am |
  19. John in Ohio

    This isn't a bad thing.

    Yay Ford.

    April 30, 2009 10:10 am at 10:10 am |
  20. Fix It Again Tony

    Blaming this on the UAW is ridiculous. They signed onto concessions as did most of the lenders EXCEPT the hedge funds. Time to outlaw them anyway.

    For those decrying government intervention, I'll cite one example to follow. Plants were in shambles, bombed to rubble, no product, no market, but an idea and the will to make it work. Got a government entity to invest and put union representatives on the board. Who the heck is it?

    Volkswagen AG! The government entity is the German State of Lower Saxony (Wolfsburg) and the union, IG Metall. By the way, VW is the most profitable vehicle manufacturer in the world at present. Hey Barack, call Angela!

    April 30, 2009 10:14 am at 10:14 am |
  21. Make America Great Again

    Gas guzzlers ... who cares. Don't they have the lowest over all fuel economy of any brand? They should have done something towards fuel efficiency ten years ago instead of building planet wrecking Hummers.

    Hopefully this will be the end of the Hummer. The company that rises from the ashes should focus on building vehicles that are safer for the planet.

    April 30, 2009 10:15 am at 10:15 am |
  22. Callie Day

    I am appalled at what the federal government has done to Chrysler. Obama and team have ruined Chrysler and GM and are trying to do the same to Ford. They will also ruin some financial institutions in the US. They don't know what they are doing, and so many Americans swallow everything they do like mindless sheep.

    April 30, 2009 10:16 am at 10:16 am |
  23. John in Northern NY

    I buy NON union Toyota for a reason!

    April 30, 2009 10:21 am at 10:21 am |
  24. SLM

    Good, now maybe they can get out from under the UAW and become a productive company again.

    April 30, 2009 10:24 am at 10:24 am |
  25. Proud DHS radical

    So, Obama and the Feds ignoring public opinion, poured billions of taxpayer dollars trying to bailout Chrysler and they're filing bankruptcy anyways... Amateurs

    April 30, 2009 10:30 am at 10:30 am |
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