Chrysler and Fiat: almost a done deal


An appeals court judge reject an appeal by Indiana Treasurer Richard Mourdock to stop the sale and restructuring of Chrysler.

This means that unless the Supreme Court intervenes, the deal will go through on Monday.

So now that the deal is almost done what will the new company be called?

Perhaps UAWchryiat

or maybe UAWslerfi

or how about just taking a page from the old Audi playbook and calling it:

Chrysler Fiat Union

Mourdock had sough to stop the bankruptcy restructuring "on behalf of three pension funds — for Indiana teachers and state
police, as well as a "Major Moves" construction fund. The funds hold
about $42 million, or less than 1%, of Chrysler's $6.9 billion debt," according to CNN.

Chrysler stated that the it was glad that the appeals court "appreciates its recognition of the need for a swift conclusion to this
process so we can quickly begin building the new company."

CNN goes on to report that:

"The Chrysler Group would be comprised by several major stakeholders.
The biggest share, of 55%, would be controlled by a United Auto Workers
union trust. The Italian automaker Fiat would own 20% initially, though
this share could eventually increase. A minority stake of 8% would go
to the U.S. government, and 2% would be held by the federal and
provincial governments of Canada and Ontario

About 800 Chrysler dealerships are on the chopping block as part oft he current bankruptcy proceedings. The dealers on the closing list must sell their current stock of cars by June 9th.

If you are looking for a great deal on a new Chrysler you can see the complete list of dealerships scheduled to close HERE.

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