Saturday, December 10, 2011

Chrysler, Fiat finalize deal after Supreme Court steps aside - Triangle Business Journal:

bakakinkorypon.blogspot.com
The move comes a day afted the decided not to hear a courtf action from a group of pension funds in Indiana that had temporarily halted the dealon Monday. The deal comez five days ahead of a deadline imposesd by Fiat to complete the merger and is expectef to open the door for more government loans to struggling automanufacturefr Chrysler. Attorneys for the pensionb funds argued that they would receive just pennies on the dollar fora $42 million loan given to However, U.S.
Solicitor Generalk Elena Kagan said the imminent collapserof Chrysler, which already was losing upwar d of $100 million daily, was of greatedr concern to government officials than the loan When Chrysler filed for Chapte r 11 bankruptcy protection last month, it spellexd out how it would merge with Fiat and what the new Chryslerd company would entail. It also said it woulds reject 789 dealershipagreements nationwide, including .

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