AFSCME 3357-HOF'S BLOG

First Info on GM & Chrysler's Ingenious Plans



The Wall Street Journal (subscription required) has some initial information concerning what to expect from the "viability" plans that Chrysler and General Motors are due to tender to the Government on Tuesday. General Motors' is expected to offer two alternatives. The first alternative would be based upon the assumption of GM continuing outside of bankruptcy, and the second alternative will be based upon GM going through a Chapter 11 bankruptcy with the government providing debtor-in-possession financing.

Chrysler is also expected to present two alternatives. The first alternative includes a Fiat link-up. The second alternative doesn't. There was no word in the WSJ regarding bankruptcy in Chrysler's plan.