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Other News: Chrysler Bankruptcy Hearings Begin

May 1, 2009 at 6:10 PM EDT
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On other news, the Chrysler company's bankruptcy hearings got underway in New York City, and two U.S. marines and one sailor were killed in Iraq on Thursday.
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JUDY WOODRUFF: In other news today, bankruptcy hearings for Chrysler got underway in New York City. Attorneys for the automaker said they will ask to keep the company operating with a new $4.5 billion federal loan.

They’ll also file a motion to sell most of Chrysler’s assets to Italian carmaker Fiat. Court documents also showed that Chrysler plans to close five more U.S. plants by the end of 2010.

As Chrysler’s bankruptcy case began, the company reported that sales tumbled nearly 50 percent in April. Toyota had the next largest decline, more than 40 percent. General Motors and Ford reported sales fell more than 30 percent.

On Wall Street today, the Dow Jones industrial average gained 44 points to close at 8,212. The Nasdaq rose more than a point to close at 1,719. For the week, the Dow gained 1.7 percent; the Nasdaq rose 1.5 percent.

New violence across Iraq and Afghanistan has claimed more American lives. Two U.S. Marines and one sailor were killed in combat Thursday in western Iraq; that raised the death toll for April to 18 U.S. troops. It was the most since last September, when 25 Americans were killed.

And three U.S. troops died in fighting in eastern Afghanistan today. Two NATO soldiers were also killed.

The fight for control of a key district in Pakistan intensified again today. The army said that at least 55 Taliban militants were killed in the Buner district in the last 24 hours. At the same time, the government said it is not ready to extend the operation or to give up on peace talks with the militants.