Apparently, victory in the Chrysler battle will be announced presently:
President Barack Obama plans to announce tomorrow morning that Chrysler LLC will be placed into Chapter 11 bankruptcy leading to an alliance with Italian automaker Fiat SpA, people involved in the matter said.
Administration officials are still trying to resolve outstanding issues, and the plan is not finished yet, said one of the people, who declined to be named. If there's a bankruptcy filing, it could come as soon as tomorrow, the people said.
We will keep you up to date as we are.
Obama Said to Ready Plan For Chrysler Bankruptcy, Fiat Alliance [Bloomberg]