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Chrysler files Chapter 11
WASHINGTON – Chrysler LLC filed for bankruptcy protection Thursday and will form an alliance with the Italian carmaker Fiat Group SpA in an effort to revive the nation's ailing third-largest automaker. The Obama administration said it had long hoped to stave off bankruptcy, but it became clear that a holdout group of creditors wouldn't budge on proposals to reduce Chrysler's $6.9 billion in secured debt. Clearing those debts was a needed step for Chrysler to restructure by a government-imposed Thursday deadline.I never thought I would say....
Go McDonalds!!!!!! http://seattlepi.nwsource.com/business/391566_sbuxrivals11.html Starbucks won't slug it out in ad wars Coffee chain says it'll take high road By ANDREA JAMES P-I REPORTER McDonald's has erected a billboard in sight of Starbucks headquarters declaring, "four bucks is dumb." · Earlier: Coffee Smackdown: In new ad drive, Dunkin' Donuts is claiming a taste-test victory over Starbucks If Dunkin' Donuts' taste test commercials were the schoolyard equivalent of blowing spitballs at the coffee giant from afar, then the latest from McDonald's is like pulling a wedgie.
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