NBC news has confirmed that Chrysler is preparing for a possible bankruptcy filing as soon as next week.
The news comes as President Obama hailed Detroit's transformation earlier this week.
The President is giving Chrysler until next week to resolve its $7 billion dollar debt.
The administration and Chrysler have reportedly struck a deal with Chrysler's lenders to at least partly protect worker pensions and health care if the company does have to declare bankruptcy.
Bad news from GM, too. The carmaker will shut down 13 plants for nine weeks or more over the summer as it tries to sell off cars and save money.
KKCO firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKCO 11News.powered by Disqus
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or firstname.lastname@example.org.