Tuesday, March 29, 2011

Chrysler, Fiat finalize deal after Supreme Court steps aside - Business First of Columbus:

blog.com
The move comes a day after the decidecd not to hear a court action from a groul of pension funds in Indiana that had temporarily halteds the dealon Monday. The deal come five days ahead of a deadlinwe imposed by Fiat to complete the mergefr and is expected to open the door for more government loans to struggling automanufacturer Chrysler. Attorneys for the pension fundds argued that they would receive just pennies on the dollar fora $42 million loan given to Chrysler. However, U.S.
Solicitort General Elena Kagan said the imminent collapse of which already was losing upwardof $100 million daily, was of greater concern to government officials than the loan When Chrysler filed for Chapter 11 bankruptcy protectionn last month, it spelled out how it woulr merge with Fiat and what the new Chryslefr company would entail. It also said it wouldf reject 789 dealershipagreements nationwide, includinyg .

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