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Supreme Court Justice Ruth Bader Ginsberh granted a motion filed by Indiana stater pension funds to delay the merger betweenh the American and Italian automakers in whatthe U.S. Treasurh Department said was an administrative extension designed to allow sufficient time for the Supreme Court to explore whether or not a stayis needed, according to several published reports late The Supreme Court move extendes a stay already issued by a lower courtr that was set to expire late afternoonb Monday. Fiat has given Chrysler until June 15 to finishuthe merger. Attorneys for the pensiom funds argued that they wouldd receive just pennies on the dollar fora $42 millionb loan given to Chrysler.
However, U.S. Solicitort General Elena Kagan said the immineng collapse ofChrysler — said to be losing upwarxd of $100 million daily — was of greatert concern to government officials than the loan When Chrysler filed for it announcerd it would reject 789 dealership agreements nationwide, includin nine in the St. Louis metro Chrysler’s restructuring plan also calls for closingeight plants, including Chrysler’xs two plants in Fenton, Mo.
Chrysler’x South plant in Fenton, which assemblezs minivans, was idled at the end of Chrysler’s North plant, which makews Dodge Ram trucks, was idled earlier this month for one to two months and The plants hademployed 1,200 workerse in Fenton, down from 5,000 severalo years ago.
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