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Shiny new Chrysler hits road

Posted on June 11, 2009 8:35 AM
Chrysler Group LLC drove out of bankruptcy Wednesday with a new lease on life, but the automaker still must navigate a long road full of potential potholes before the government-assisted restructuring can be deemed a success.

The new Chrysler emerged from Chapter 11 after a last-minute challenge by a group of creditors was thwarted. The restructured company is 55% owned by a union retiree healthcare trust, with Italian automaker Fiat SpA initially owning 20% and the U.S. and Canadian governments splitting much of the rest.

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