Chrysler 'to file for bankruptcy'

[Devilfish]

Chrysler is to enter bankruptcy protection after failing to persuade its main lenders to write off its debts, a White House official has said.

BBC NEWS | Business | Chrysler 'to file for bankruptcy' (http://news.bbc.co.uk/1/hi/business/8027109.stm)

[xant14]

Unbelievable really, they did make some great cars too, worldwide beauties, the Jeep, Grand Voyager MPV thing, a bit thirsty but luxurious, A couple I hired were beautiful, the 300C and the Sebring convertible.
How can a company with such good products fail after nearly 100 years under it's belt. Altho I did see they did a similar thing in 1979 with a loan of $1.5 billion from Government (which they paid off by 1982).
It's crazy, their finances are like mine, someone in the accounts dept needs a good kick in the balls.