… for the family of a California longshoreman who brought a wrongful death lawsuit against Chrysler before the company went bankrupt.

The article said:

“The Chrysler wrongful death lawsuit was filed by the family of Richard Mraz, who was 38 years-old when he was killed in April 2004 when his 1992 Dodge Dakota pickup rolled over him while he was working at the Port of Los Angeles. The family alleged that the Chrysler truck had a defective transmission that allowed it to slip …

Tags: Chapter 11 Title 11 United States Code Chrysler

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According to an article in the Star-Telegram, two former Chrysler LLC dealership owners have filed an appeal of a bankruptcy judge’s order terminating their franchises and those of more than 700 other dealerships as part of Chrysler’s bankruptcy plan.

The article said:

“Tarbox Motors Inc. of North Kingstown, R.I., and Tarbox Chrysler Jeep LLC of Attleboro, Mass. filed a notice in bankruptcy court on Friday, saying that they were appealing …

Permalink: /bankruptcy/some-chrysler-dealerships-appealing-bankruptcy-decision/

According to an article in the Star-Telegram, General Motors and Chrysler worked overtime to convince skeptical lawmakers on Wednesday that shedding dealerships, despite the job losses it will cause, is a necessary evil.  The automakers, currently in bankruptcy, say that if they don’t close unprofitable dealerships and implement job losses that may not survive.

The article said:

“This is our last chance to get it right,” GM President Fritz …

Permalink: /filing_bankruptcy/more-job-losses-to-come-as-gm-and-chrysler-shed-dealerships/

According to an article in the Dallas Morning News, the bankrupt automaker Chrysler intends to eliminate a 789 of its 3,200 dealerships in the U.S., including eight in the Dallas- Fort Worth area.   Chrysler announced in a court bankruptcy filing that it has more dealerships than its business can support and seeks to cancel the contracts of some of the weaker dealerships.

Dallas-Fort Worth dealerships facing closure:

El Dorado Chrysler Jeep in McKinney; Frank …

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According to an article in the Dallas Morning News, the struggling automaker Chrysler will file for Chapter 11 bankruptcy because it was unable to settle debt with lenders.

The article said: The filing comes after some of the company’s smaller lenders refused a Treasury Department demand to reduce the amount of money the troubled automaker owed them.

The Chrysler bankruptcy won’t necessarily mean the closing of its business and liquidation; but the fate of …

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Chapter 11 bankruptcy has been talked about often throughout 2009. Companies such as GM, Chrysler and CIT Group which all seemed on the brink of complete failure filed Chapter 11 bankruptcy and came back from the abyss.  But how does Chapter 11 bankruptcy work its magic? How does it transform corporate losers into winners?

Chapter 11 bankruptcy allows the company filing bankruptcy to continue operating their business.  This is exactly what most bankrupt companies …

Tags: Chapter 11 Bankruptcy Chrysler CIT Group GM

Six Flags continuing relationship with Chrysler, while Kimberly Clark plans for job cuts.

According to the Dallas Morning News, Irving based, Kimberly Clark, Inc., announced today that it would be cutting 1,600 non-production jobs.  The jobs represent about 3% of their total workforce.  The article states:

“These actions, while difficult, are necessary to help us emerge from this demanding economic environment as a stronger …

Tags: Bankruptcy Chrysler Dallas Morning News Kimberly-Clark Six Flags

… because of Chapter 11 bankruptcy,  its codes and protections that large companies such as Chrysler and United Airlines are able to go bankrupt and continue doing business.  Bankruptcy not only saves the company, it saves the jobs and financial stability of millions of Americans.

Bankruptcy is not judgmental. It doesn’t matter if the debtor is foolish or prudent, the American bankruptcy system does not judge. In bankruptcy even the foolish are able to get …

… that received the biggest bailouts: Bank of America, AIG, Citigroup, General Motors, GMAC, Chrysler and Chrysler Financial. But if you thought that would put other banks on notice, you’re only partly right. Feinberg’s move has not only put banks on notice, it has created a stampeded of banks rushing to repay their bailout loans so they can avoid pay caps.

Bank of America repaid its $45 billion bailout this week, while Citigroup is scrambling to pay back a portion of its $45 …

… changes that would have allowed Ford Motor Co. to cut labor costs and remain competitive with Chrysler and GM, both of which recently emerged from bankruptcy.

The article said:

“Ford sought the deal to bring its labor costs in line with Chrysler Group LLC. and General Motors Co., both of which won concessions from the union as they headed into bankruptcy protection this year. Under pattern bargaining, the three automakers usually match pay, benefits and other contract …

… automakers slashed thousands of mid-career jobs.  Tom Boileau, for example, spent 35 years with Chrysler.  When he was laid off, his annual salary was around $110,000.  Now he earns $500 a week as a hockey coach.  Other misplaced workers have also taken substantial pay cuts.  They aren’t living with a false hope that they will make $100+ this year; they are just hoping that someone will talk to them about the possibility of a job.

Like the rest of the unemployed workers, they have …

… that are proving to be less than lucrative in the down market.  Companies such as GM and Chrysler have already used Chapter 11 bankruptcy to free themselves from these agreements and reorganize their debt.  As we have mentioned previously many companies which depend on discretionary spending are finding it difficult to avoid bankruptcy as consumers cutback on spending and/or switch to cheaper brands.  For those companies that do use Chapter 11 bankruptcy to increase their chances …