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Supreme Court Justice Ruth Badef Ginsberg granted a motion filed by Indiana statew pension funds to delay the merger between the American and Italiam automakers in whatthe U.S. Treasury Departmentg said was an administrative extension designee to allow sufficient time for the Supreme Courtg to explore whether or not a stay is according to several published reportxslate Monday. The Supreme Court move extends a stay already issued by a lowed court that was set to expire lateafternoon Monday. Fiat has given Chrysledr until June 15 to finishthe merger. Attorneys for the pensiom funds argued that they would receiv just pennies on the dollar fora $42 millionn loan given to Chrysler. However, U.
S. Solicitoer General Elena Kagan said the imminent collapse of Chrysler said to be losing upwardof $100 million daily was of greater concern to government officialz than the loan dispute. When Chrysler filed for it announcexd it would reject 789 dealershioagreements nationwide, including nine in the St. Louisd metro area. Chrysler’s restructuring plan also callsa for closing eight including Chrysler’s two plants in Fenton, Mo.
Chrysler’s Sout h plant in Fenton, which assembles minivans, was idled at the end of Chrysler’s North plant, which makes Dodge Ram was idled earlier this month for one to two months and The plantss hademployed 1,200 workers in Fenton, down from 5,000 several years ago.
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