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Kokomo Mayor Goodnight Thinks Bankruptcy May Play Out Well For Chrysler

Last updated on Friday, May 1, 2009

(KOKOMO) - Kokomo Mayor Greg Goodnight watched President Barack Obama announce the bankruptcy of Chrysler bringing some positives away from the table.

Goodnight believes bankruptcy protection will eventually be a good thing as long as it is temporary and the company can emerge strong within a couple of years. Goodnight also thinks the pending merger with Fiat will help.

The Kokomo mayor says he, like the president, is disappointed in the few creditors who would not work with the automaker, but feels the union rank-and-file in town are confident union leadership did their part.

Chrysler officials have indicated the company will shutdown production for at least 2 months beginning next week.

Goodnight says Kokomo has weathered the storm of shutdowns before and will survive another.

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