Thursday, April 30, 2009


No deal with Chrysler's creditors.

April 30 (Bloomberg) -- Chrysler LLC will proceed today with a Chapter 11 bankruptcy filing to reorganize into a more viable carmaker in a partnership with Italy’s Fiat Spa, an Obama administration official said.

The official, who spoke on condition of anonymity, said that the failure of some small creditors to agree to a final settlement is prompting the bankruptcy option. President Barack Obama will speak at noon New York time on the auto industry, the White House said in a statement today.