The upcoming sale of Chrysler LLC to Fiat has been temporarily delayed by a by a U.S. Supreme Court justice.
Justice Ruth Bader Ginsburg acted right before the 4pm deadline from a U.S. appeals court in New York. Indiana pension funds and consumer groups asked the Supreme Court over the weekend to stop the sale of Chrysler so that they could challenge the sale. The end of the appeals court would have allowed Chrysler to proceed with the sale to Fiat.
Chrysler and the Obama administration are worried that if the deal is delayed too long it could kill the deal. Fiat has the option of walking away from the deal if it is not done by June 15.
Chrysler and the U.S. Treasury Department had no immediate response to the announcement.
Full Story: Reuters
Comments (8)
Sounds pretty fair to me. Why should the american worker get screwed out of his life savings?
Posted by Wayne | June 8, 2009 5:24 PM
Posted on June 8, 2009 17:24
Sounds pretty fair to me. Why should the american worker get screwed out of his life savings?
Posted by Wayne | June 8, 2009 5:25 PM
Posted on June 8, 2009 17:25
Eh, I suppose it's news, but I think most people saw this one coming. This weak economy has really slowed the amount of interesting auto news. Maybe chrysler will bring back the K car....now that would be news.
Posted by thetruth | June 8, 2009 6:20 PM
Posted on June 8, 2009 18:20
I hope this shines a light on Obama & his crooks the UAW..
Probably won't, but one could only hope...
Posted by Think | June 8, 2009 8:14 PM
Posted on June 8, 2009 20:14
FIAT needs to run away as fast as it can.
It doesn't speak well of that company to be willing to become part of Obama's new auto companies.
Posted by zippy | June 9, 2009 4:48 AM
Posted on June 9, 2009 04:48
Can Fiat please just bring Alfa here and stop trying to mess around with Chrysler and the UAW.
Not to deny these people pensions, but did they really expect Fiat to pay for past 60 years of their over inflated salaries?
Posted by Cashmoney | June 9, 2009 7:07 AM
Posted on June 9, 2009 07:07
If the UAW builds it, I ain't buying it.
Posted by ryan | June 9, 2009 8:20 AM
Posted on June 9, 2009 08:20
The block has been lifted. Go get her Fiat!
"If the UAW builds it, I ain't buying it."
Plenty of room in Tennessee for more automakers. Maybe the new Chrysler/Fiat group can get the UAW to help load the moving trucks. Or do movers have their own unions?
Posted by Trooper Bri | June 9, 2009 5:48 PM
Posted on June 9, 2009 17:48