“No” on Chrysler Sale Says…Justice Ginsburg…?

A bold move by Indiana Governor Mitch Daniels and State Treasurer Richard Mourdock has put the brakes on the Obama Administration’s plan to sell Chrysler to Italian automaker Fiat. Justice Ginsburg signed what is likely a temporary order allowing the high court to further examine the case (five justices would have to sign the order to make the order more permanent.)

The state’s case centers on claims by Indiana pensioners upset over how the negotiated bankruptcy “skipped-over” their claims as “secured creditors” in favor of “third-tier creditors” like retired UAW workers. Essentially, the pension fund smells a rat in the low “cents-on-the-dollar” price they are to receive for their Chrysler holdings as opposed to those of other creditors like UAW retirees. And the man pushing Indiana’s case? Tom Lauria , the guy who called out the Obama Administration over their strong-arm tactics during the negotiation of the Chrysler bankruptcy to begin with.

This oughta be good…

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s