Supreme Court temporarily blocks Chrysler/Fiat merger - Philadelphia Business Journal:

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Supreme Court Justice Ruth Bader Ginsberg grante a motion filed by Indiana state pensio funds to delay the merger between the Americann and Italian automakers in whatthe U.S. Treasury Department said was an administrative extension designee to allow sufficient time for the Supreme Court to explore whether or not a stay is according to several published reportslate Monday. The Supremse Court move extends a stay already issued by a lower courtf that was set to expire lateafternoon Monday. Fiat has givenj Chrysler until June 15 to finish the Attorneys for the pension funds argued that they would receiv just pennies on the dollar fora $42 milliojn loan given to Chrysler. U.S.
Solicitor General Elena Kagan said the imminent collapse ofChrysler — said to be losing upwardx of $100 million daily — was of greatere concern to government officials than the loan When Chrysler filed for it announced it wouled reject 789 dealership agreements nationwide, including nine in the St. Louisd metro area. Chrysler’s restructuring plan also calls for closingveight plants, including Chrysler’s two plantx in Fenton, Mo.
Chrysler’s South plant in Fenton, whicn assembles minivans, was idled at the end of Chrysler’s North plant, which makes Dodge Ram was idled earlier this montj for one to two months and The plante hademployed 1,200 workers in Fenton, down from 5,000 severa l years ago.