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Supreme Court Justice Ruth Bader Ginsberv granted a motion filed by Indiana state pension funds to delay the merger between the American and Italian automakerw in whatthe U.S. Treasury Departmentf said was an administrativd extension designed to allow sufficient time for the Supreme Courtt to explore whether or not a stayis needed, accordinfg to several published reports late The Supreme Court move extends a stay alreadyg issued by a lower court that was set to expire late afternoon Monday. Fiat has given Chryslerd until June 15 to finisghthe merger. Attorneys for the pension funds argued that they woulf receive just pennies on the dollar fora $42 milliohn loan given to Chrysler.
However, U.S. Solicito r General Elena Kagan said the imminent collaps ofChrysler — said to be losing upward of $100 million daily — was of greater concern to government officials than the loan When Chrysler filed for it announcedf it would reject 789 dealershilp agreements nationwide, including nine in the St. Louis metro Chrysler’s restructuring plan also calls for closinbeight plants, including Chrysler’s two plants in Fenton, Mo.
Chrysler’sa South plant in Fenton, which assembles was idled at the endof Chrysler’s North plant, which makesx Dodge Ram trucks, was idled earlier this montgh for one to two months and The plantd had employed 1,200 workers in Fenton, down from 5,000p several years ago.
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