BREAKING NEWS: US Supreme Court halts sale of Chrysler to FIAT

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Digger

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BREAKING NEWS: The Supreme Court has delayed the imminent sale of most of Chrysler's assets to a group led by Italian automaker Fiat. -- CNN.com

If the sale doesn't happen, it's safe to say thousands of jobs will be lost. Nice job, unions. :rolleyes:
 
It was the pension fund of the police and teachers that didn't want to accept 29¢ on the dollar, like others did.

I don't know, is that pension fund led by 2 different unions?

Now they'll get a nickel in 5-10 years,,,maybe.

As a side note, chit happens. Investment = risk. Every investment I've made entails risk, sometimes it pays off big :D, other times it just pays off :confused:and then there's the times you say to yourself "how could I have been so stupid" :eek: BTDT and I got the T-shirt, hat and fanny pack.

Chryslers been circling the drain for a quite a while, this shouldn't come as a surprise to a fund manager. They should have started to divest well over a year ago.
 
I'm shocked the the Supreme Court did this. It's very unlike them to halt something like this. Especially when the vast majority of the share holders agreed to it.

Honestly, the sale to Fiat is the best thing that can happen to Chrysler right now. The sale would make the new company the 3rd largest auto maker in the world.

I think I read somewhere that these pension holders only hold less than 2% of the company's debt. With that small of a share, who are they to try and halt the sale?
 
foehammer111 said:
I think I read somewhere that these pension holders only hold less than 2% of the company's debt. With that small of a share, who are they to try and halt the sale?
Click to expand...

People who want their share. And I can understand that.

But the fact is, they want Chrysler sold off in pieces, even though they know hundreds of thousands of job would be lost.
 
AndyMarquisLIVE said:
People who want their share. And I can understand that.

But the fact is, they want Chrysler sold off in pieces, even though they know hundreds of thousands of job would be lost.
Click to expand...

Yep... once again greed gets in the way of what is the right thing to do.
 
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