The High Cost of 'Fighting Those Damned Unions'

Talks Tip Chrysler Toward Bankruptcy As Negotiations With Creditors Falter, Officials Finalize Details of Restructuring By David Cho, Peter Whoriskey and Kendra Marr Washington Post Staff Writers Thursday, April 30, 2009 The Obama administration last night planned to send Chrysler into bankruptcy, replace chief executive Robert L. Nardelli and pump billions of dollars more into the effort, all in hopes the company can emerge from court proceedings as a reenergized competitor in the global economy. Government officials clung to 11th-hour hopes last night that bankruptcy could be averted, but talks broke down with Chrysler's creditors. A bankruptcy filing could happen as soon as today. . . .

Under the administration's detailed court strategy, ownership of Chrysler would be dramatically reorganized, the leadership of Italian automaker Fiat would take over company management and the U.S. and Canadian governments would contribute more than $10 billion in additional funding. . . Its ownershi…