Chrysler has prepared documentation needed for the bankruptcy procedures in the event that negotiations for an alliance with the Fiat group fail when the deadline of April 30 imposed by the U.S. government is up.
The U.S. Government has imposed Chrysler April 30 as a deadline for reaching an agreement with Fiat.
Otherwise, the Treasury will block
the financing of the auto manufacturer, and the decision would push the company to bankruptcy.
According to sources close the discussions, Chrysler is focusing on talks with Fiat and enjoys the support of Obama administration, but also have the documents needed to apply for protection under bankruptcy the law ready, as an added measure.
The Italian Fiat group might be interested to take over the German Opel, the biggest European division of U.S. group General Motors (GM).
Concluding such a transaction would turn Fiat into a major player in the world, with an important role into the restructuring of the two U.S. auto giants that are in great difficulty.
After Neil Robertson-Steve Davis, another meeting between the best representatives of different generations thrill snooker fans.
Chinese Ding Junhui and Scot Stephen Hendry play for a place in the quarter finals of the snooker World Championship in Sheffield. After the first session of the game which is played in the format of the best out of 25 games, the two are tied - score 4-4.
Although only eight games were played so far, the match promises to be increasingly thrilling. There was only one break of over 100 points, but the distance shots and safety shots were simply impressive. While Ding is a specialist of the former, Hendry is a master of the latter. We also witnessed what is perhaps the most beautiful shot of the World Cup: a Hendry's combined shot in the 6th game.
The match between the two players continues today. In another match in the second round that was started yesterday, the favorite and last year's champion Ronnie O'Sullivan has managed only a draw, 4-4, after the first session. The opponent is a young and extremely talented player, but who lacks consistency in the game. It remains to be seen whether he will still be able to hold Ronnie back.