Chrysler suspended payments on 30 April 2009, after failed negotiations between the U.S. treasury and the crors of the automotive business that do not accept a decrease in accounts receivable in order to receive assistance from the treasury. Michigan firm under Chapter 11 of the Bankruptcy Act, in the absence of funds to finance themselves. This process consumes the agreement with the Italian group Fiat, which begins a new alliance between the two groups. He expects the company to completely restructure and to return to the land of the profits. But a factor against the company is the strong global economic recession, which will mean a forced reduction in vehicle production. Perhaps the company into new agreements with other companies in the industry, but it is certain that it will be very difficult to recover the lost position. The current President and CEO of the company is the president of Fiat, Sergio Marchionne.The Fiat Group now has 20 of Chrysler Group LLC expandable up to 35 as certain conditions are met under the agreement. But Fiat may not be of most Chrysler until they have fully settled debits from public financing. At one time, the Medical Benefits Fund of the UAW Retiree, former voluntary charity dependent (VEBA), received an equity stake in Chrysler Group’s 55 percent, net of the purposes agreed. The Department of U.S. Treasury and the Government of Canada has been allocated equity of 8 percent and 2 percent respectively of net effects computed. These percentages reflect the share or shares shall be held by each partner to both Fiat exercising the right to increase participation itself upon satisfaction of the conditions specified in the agreement.The new Chrysler will be managed by a Governing Board composed of three directors appointed by Fiat, Sergio Marchionne including (currently the CEO of Fiat SpA) as Chief Executive Officer (CEO), four members appointed by the U.S. Treasury Department one by the Government of Canada and one by the Medical Benefits Fund of the UAW Retiree. Council is expected to name Robert Kidder as its Chairman. The process for selection of the other directors is now underway and will be communicated as quickly as possible.