Chrysler News: Day of judgment today

Today is a big day for struggling U.S. automaker Chrysler, as it is judgment Wednesday. Today a bankruptcy court judge will rule on a sale of Chrysler’s key assets, it is hoped that this will give the automaker a fresh start when it goes into business with Fiat.

Judge Arthur Gonzalez is the one who will decide to approve the fast-track plan, and it is assumed that within days a new Chrysler could be born. The Obama administration is also spearheading a plan to provide emergency funding for the automaker.

General Motors will be keeping a close eye on things, as what happens with Chrysler could be a clear indication of what is to come for them. GM is also living of loans from the government, or the taxpayers’ pockets. A source close to these talks with Chrysler said that the rebirth of a new company fresher company is very close.