Link to that Lousy Left Wing Rag Called the Wall Street Journal
Chrysler Chief Executive Robert Nardelli told employees the company is headed for a substantial loss this year and is scrambling to sell assets to raise cash, according to an account by two people present that Mr. Nardelli confirmed.
“Someone asked me, ‘Are we bankrupt?'” Mr. Nardelli said at the meeting. “Technically, no. Operationally, yes. The only thing that keeps us from going into bankruptcy is the $10 billion investors entrusted us with.”