Chrysler, Big Three | featured news

Things were already tough in Kokomo, Indiana.

The Italian carmaker that just took over Chrysler is in talks to buy GM's European operations.

The fate of Chrysler shifted from Washington to a Manhattan courtroom on Friday, as lawyers for the automaker sought a settlement with creditors.

With a bankruptcy filing by Chrysler appearing all but certain, President Obama will address the fate of the automaker at noon.

Chrysler’s unsecured creditors have reached a preliminary deal with the Treasury Department, two people briefed on the matter said on Tuesday.

Union concessions moves the deal between the U.S. and Italian automakers closer to reality.

U.S. automaker Chrysler LLC showed signs of progress with its unionized workers in its battle to stay alive on Sunday with just days left to complete deals to slash labor and debt costs or face bankruptcy.

Despite plummeting sales, its per-share loss is about half of what analysts had predicted. Also today, GM borrows more federal funds, and reports point to Chrysler bankruptcy.

The Obama administration remains focused on bringing Chrysler and Fiat into a working partnership, a U.S. official said on Thursday, dismissing a news report that the U.S. car-maker faced imminent bankruptcy.

Under the terms of the new plan, Chrysler’s lenders would receive about 22 cents on the dollar, plus a 5 percent equity stake in the reorganized company, a person with knowledge of the matter said.