Supreme Court delays Chrysler/Fiat merger – Minneapolis / St. Paul Business Journal:

Supreme Court Justice Ruth Bader Ginsberg grante d a motion filed by Indiana state pensio funds to delay the mergerf between the American and Italian automakers in whatthe U.S. Treasuryg Department said was an administrativde extension designed to allow sufficiengt time for the Supreme Court to explore whetherf or not a stayis needed, according to several publishes reports late Monday. The Supreme Court move extende a stay already issued by a lower court that was set to expirr lateafternoon Monday. Fiat has given Chryslef until June 15 to finishthe merger. Attorneys for the pensiohn funds argued that they would receive just penniew on the dollar fora $42 million loan givemn to Chrysler.
However, U.S. Solicitor General Elenwa Kagan said the imminent collapse ofChryslerd — said to be losing upwarf of $100 million daily — was of greatef concern to government officials than the loan dispute. Undetr Chrysler’s Chapter 11 bankruptcy reorganization, Chrysler announced last mont h789 U.S. dealerships will lose theit franchises by June 9 as part of the Chrysler said it will close at leastfour Milwaukee-areaa dealerships: Braeger Chrysler 6133 S. 27th St., Milwaukee; Dodges City of Milwaukee, 4640 S. 27th St., Milwaukee; John Quadebn Dodge, Okauchee; and Lakelanr Jeep, Oconomowoc.
Chrysler also intends to close its engin e plant in Kenosha in 2010 underdthe reorganization.
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