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Bailout Watch 557: Fiat "Buys" Chrysler
by
Edward Niedermeyer
(IC: employee)
Published: June 10th, 2009
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The sale of Chrysler’s assets to Fiat is complete, reports the New York Times. Paperwork (and the transfer of $6.6 billion in Treasury money) was completed at about 9 a.m. Eastern, after news came yesterday that the Supreme Court would not hear the Indiana pension fund challenge. News reports refer to the speed of the Chrysler bankruptcy as “an important victory” for the Obama auto industry restructuring effort. Perhaps to avoid talking about the substance of the bankruptcy. Either way, she’s a done deal. Chrysler is dead, long live Chrysler!
Edward Niedermeyer
More by Edward Niedermeyer
Published June 10th, 2009 10:50 AM
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Is it too much to expect a Maserati badged as a Chrysler? A Fourporte.
DearS, hush your mouth, lest somebody brings back memories of the TC.
Although I can't remember the source, I'm pretty sure I read something that indicated Cerberus gave up ownership of the Tech Center as part of the "deal", reverting it back to "Chrysler Real Estate Holdings" or whatever it's officially called.