Wednesday, March 18, 2009

March 31st - D-day or Not

A condition to the most recent bailout money distribution to Chrysler and GM was that each company was supposed to have supplier and labor agreements in place with a written plan of viability by March 31, 2009. Now we are less than two weeks away and according to the Detroit News, sources within the Obama administration's Auto Task Force say that the March 31 deadline is "unlikely to be enforced."

It seems like just yesterday (because it was) that Chrysler CEO Bob ("Dean Bob") Nardelli said on CNBC that Chrysler will need another $5 billion by March 31, otherwise they need to begin an orderly shut down of operations.

Meanwhile task force member Steve Rattner has suggested that bankruptcy is all but off the table. I think you can trust Rattner. He treated Stacy with respect. He wasn't a lying creep like Damone.

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