The U.S. government says the Chrysler needs only 30 to 60 days to re-emerge. Keep in though mind that United Airlines spent more than 3 years in bankruptcy protection, and Delphi has been in Chapter 11 since 2005.
When the new Chrysler emerges from its cocoon, its metamorphosis will see Italian car maker Fiat managing the new company with most of the assets from Chrysler-of-old.
We know a cat has nine lives. Moths go through the same transformation as butterflies, but aren't as pretty. I believe though, they have a purpose in the greater scheme of things. Perhaps that's why Chrysler's still around.
The reason for the rebirth, reincarnation and resurrection analogy? Well, it's just because we've been down this road before with Chrysler — in 1979, the U.S. government bailed out the Detroit automaker to the tune of $1.5 billion.
In fact, Chrysler's history is begins with restructuring. Walter Chrysler founded the company in 1925 after re-organizing the Maxwell Motor Company. Forty years later, Chrysler expanded its footprint into Europe and picked up majority stakes in Britain's Rootes Group, Simca of France and Barreiros of Spain to form Chrysler Europe.
And that's when things started to get messy.
The European assets proved too troublesome for Chrysler and they were sold to PSA Peugeot Citroen, which were in turn passed on to Renault. By the 70s, Chrysler Europe had essentially collapsed and to become a footnote in the company's history.
It weren't always this dire at Chrysler. It had its moments of glory. In 1987, it acquired Lamborghini. And eleven years later, Daimler-Benz purchased Chrysler, giving it upper-echelon status by association with Mercedes.
But Chrysler sold Lamborghini in 1994 and the Daimler marriage proved barren. In 2006, Daimler in turn, sold 80 percent of its stake in Chrysler to private equity firm Cerberus.
Is Fiat Chrysler's True Soulmate?