POLITICO-Chrysler declaring 'short' bankruptcy

Newswire

By Mike Allen WASHINGTON, April 30 (POLITICO) - The White House says Chrysler is declaring a "short" bankruptcy today, which administration officials says will be automaker's salvation -- not demise. "Ultimately, this is much better for Chrysler and for the people of Detroit," a senior administration official said. "This will hopefully get them on a better footing than they've been on in a long time." The bankruptcy - which the administration hopes will be on a "short" timetable of as ...

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