The Chrysler Filing

You can read the actual text of Chrysler's bankruptcy filing on the WSJ web site, here. There's also a long (117p) affidavit here. It's fascinating, in a macabre look-a-dead-body sort of way.

One interesting part is how much Chrysler owes the top unsecured (no collateral) creditors:

#1 Ohio Module Manufacturing Co.: $70.3 million (chassis assembly)
#2 BBDO: $58 million (marketing)
#3 Johnson Controls: $50.3 million (parts)
#4 Continental Automotive: $47 million (parts)
also #29 Continental-Teves: $7.4 million,
Continental Automotive Guadalajara: $5.5 million
#5 Cummins: $44 million (engines)
#6 Germersheim Spare Parts: $36 million (Daimler spare parts?)
#7 Comau: $32 million (robots and automation)
#8 Visteon: $25.6 million (parts)
#9 New Process Gear: $20 million (transfer cases)
#10 Denso: $18.7 million (parts)
#11 Yazaki: $18.3 million (parts)
#13 U.S. Steel: $16 million (steel)
#18 Tata America: $11.3 million (IT outsourcing)
#24 Magna Powertrain: $8 million (parts)
#26 Shell Oil: $7.8 million (petrochemicals)
#41 Wackenhut: $7 million (security)
#40 Borg Warner: $5.5 million (parts)
#47 Robert Bosch: $5.1 million (parts)
#50 TRW Chassis: $5 million (parts)

There are a few companies on here which are a little surprising. You expect parts suppliers and steel companies, but a German spare parts distributor? Wackenhut? Tata?

Top secured creditors:

U.S. Treasure: $4.5 billion
JP Morgan: $1.6 billion
Chase: $1 billion
Morgan Stanley: $980 million
Citibank: $919 million

Chryslers assets: $39.3 billion

Current assets: $11.1 billion (only $1.9 billion in cash)
Property and equipment: $21 billion
Other: $7.2 billion (including $3.5 billion in "intangible")

Liabilities: $55 billion ($30.6 billion current liabilities, $24.5 long term)

Operating loss, previous 12 months: $17 billion (!).

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