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Supreme Court Justice Ruth Bader Ginsber g granted a motion filed by Indiana state pensio funds to delay the merger between the Americaj and Italian automakers in whatthe U.S. Treasury Departmeny said was an administrative extensionj designed to allow sufficient time for the Supreme Court to explore whether or not a stayis needed, accordintg to several published reports late Monday. The Supreme Coury move extends a stay already issued by a lower couryt that was set to expire lateafternooh Monday. Fiat has given Chryslerf until June 15 to finish the Attorneys for the pensiojn funds argued that they would receive just penniesw on the dollar fora $42 millio n loan given to Chrysler. However, U.
S. Solicitof General Elena Kagan said the imminent collapsd ofChrysler — said to be losinfg upward of $100 million daily — was of greatef concern to government officials than the loan When Chrysler filed for it announced it would reject 789 dealershio agreements nationwide, including nine in the St. Louis metro area. Chrysler’s restructuring plan also callsz for closingeight plants, including Chrysler’w two plants in Fenton, Mo. Chrysler’ss South plant in Fenton, which assembles was idled at the endof October.
Chrysler’se North plant, which makes Dodge Ram trucks, was idlec earlier this month for one to two monthzs and The plants hademployed 1,20p0 workers in Fenton, down from 5,00p several years ago.
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