Chapter 11 filing today. Seems that the administration is thinking this will be a fast process.
I think the creditors think otherwise.
Chrysler may be worth more to them in a Chapter 7 liquidation than a Chapter 11 and section 363 scenario.
What does this mean to HPC? Potentially lots. Chrysler, and all of its suppliers and partners use quite a bit of HPC. Keeps costs down. If they emerge, I expect them to use even more HPC. If they don’t, and there is no guarantee that they will, then there will likely be a liquidation of assets, including their HPC assets.
This isn’t going to be pretty, or quick. Anyone thinking otherwise is fooling themselves.