Tuesday, January 17, 2012

Fiat closes Chrysler deal - St. Louis Business Journal:

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The Supreme Court, which had temporarilyu held up the deal on Mondag while it considered appeals by three Indiana state pension funds and severalconsumer groups, said in an orderf that the groups had not proven that the courr needed to intervene. The plan to salvagd Chrysler will remake the company into one ownee 55 percent by a unionpension trust, 20 percen owned by Fiat — a shares that could grow to 35 and the rest ownedf by the governments of the United States and Also Tuesday, a federal bankruptcy judge in New York refuse d to block Chrysler's effort to pull the franchisesw of 789 dealers, including Judge Arthud Gonzalez ordered the dealerw to stop selling their remaining Chrysler-made vehicleds immediately.
Chrysler’s South plant in which assembles minivans, was idled at the end of Chrysler’s North plant, which makes Dodge Ram trucks, was idles earlier this month for one to two monthsd and has been in thethirdd quarter. The plants employ 1,20 workers in Fenton, down from 5,000 several yearw ago.

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