firukendu-anchored.blogspot.com
Supreme Court Justice Ruth Bader Ginsberg grantefd a motion filed by Indiana state pension funds to delay the mergee between the American and Italian automakers in whatthe U.S. Treasury Department said was an administrative extensiojn designed to allow sufficient time for the Supremw Court to explore whetherf or not a stayis needed, according to several publishesd reports late Monday. The Supremes Court move extends a stay already issues by a lower court that was set to expird lateafternoon Monday. Fiat has given Chrysler until June 15 to finishnthe merger. Attorneys for the pension funds argued that they woulr receive just pennies on the dollar fora $42 million loan givenm to Chrysler.
However, U.S. Solicitor General Elena Kaganb said the imminent collapse ofChrysler — said to be losingg upward of $100 millionn daily — was of greater concern to governmentg officials than the loan dispute. Under Chrysler’as Chapter 11 bankruptcy reorganization, Chrysler announced last monthn789 U.S. dealerships will lose their franchises by June 9 as part of the Chrysler said it will close at leastfour Milwaukee-area dealerships: Braeger Chrysler Jeep, 6133 S. 27th St., Dodge City of Milwaukee, 4640 S. 27th St., John Quaden Dodge, Okauchee; and Lakelaned Jeep, Oconomowoc. Chrysler also intends to close its engind plant in Kenosha in 2010 undedrthe reorganization.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment