Indiana pension-funds groups have approached the Supreme Court to block the deal.
This is hilarious - secure bond holders are upset that their pension funds are going down but the car industry workers can lose all their rights, pensions, health care and indeed their jobs.
When it suits them, these people have very different views of capitalism.
Workers have no security I guess.
http://www.reuters.com/article/bigMoney/idUS190629293020090607<snip>
Though the Chrysler-Fiat sale could become official as early as tomorrow, some Chrysler creditors are still pushing hard to block it. According to papers filed late yesterday, Bloomberg reports, Indiana pension funds that had lent Chrysler money in the past sought a Supreme Court review of a ruling allowing the sale. The Indiana funds, which hold $42.5 million of $6.9 billion in Chrysler-secured loans, argue the Fiat deal is a misuse of the Troubled Asset Relief Program, which they contend was meant for financial institutions, not car companies.
The Wall Street Journal reports on the tense e-mailing that occurred during the final attempts at negotiation in the hours before Chrysler filed for bankruptcy. The e-mails reveal that Fiat ignored requests for documents and attempted to change contract terms at the last minute. Chrysler responded that "comments extracted from emails exchanged in the heat of negotiations reflect the normal hyperbole that occurs in the final stages of negotiating any complex transaction." In one e-mail, an official referred to the Treasury Department as "God."
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