Chrysler filed for Chapter 11 bankruptcy yesterday. It was the first major automaker since Studebaker in 1933 to attempt to restructure under bankruptcy. Three years later, Studebaker emerged from bankruptcy and managed to stay alive for a few more decades until 1966. Joining The Takeaway is Rebecca Lindland from Global Insight
, a financial forecasting company; and Robert Farago, a blogger for The Truth About Cars
"When you go under the knife and under anesthesia, there's always complications. The longer the surgery lasts, the less likely the patients going to survive.And the same thing can be said about this bankruptcy idea."
—Rebecca Lindland, director of Automotive Research for the Americas, on Chrysler's bankruptcy