Hxen.com's tips：Every day persisted can learn English well!-->■Learn English Everyday■
Chrysler's first hearing "may offer the first clue as to whether a quick, 'surgical' bankruptcy is possible," says the Associated Press.
The nation's third-largest automaker filed for Chapter 11 bankruptcy protection Thursday with an ambitious plan to emerge in as little as 30 days as a leaner, more nimble company.
 |
Lawyers Martin Bienenstock (L) and Judy G.Z. Liu representing Chrysler Financial leave U.S. Bankruptcy Court after the hearing in New York, May 1, 2009. Chrysler LLC was in bankruptcy court Friday to obtain permission to continue paying employees and meeting customer and dealer obligations against a backdrop of mounting opposition from certain of its lenders. |
Corinne Ball, a partner at Jones Day, one of the firms representing Chrysler, said that maintaining pay and benefits for the company's 38,000 workers is "important to preserving our ability to keep the organization intact," according to a cnn report.
 |
A woman who fell in faint during the Chrysler hearing is carried out of U.S. Bankruptcy Court in New York, May 1, 2009. Chrysler LLC was in bankruptcy court Friday to obtain permission to continue paying employees and meeting customer and dealer obligations against a backdrop of mounting opposition from certain of its lenders. |
"The most important things are the warrantees to the owners and buyers and cars," said Spar. "They're the lifeblood of the company."
The hearings continue on Monday.