Open Thread — Chrysler Storm A-Brewin’by Brad Warbiany
This news just came through the tubes –
A U.S. Supreme Court justice on Monday granted a request to put on hold the sale of bankrupt automaker Chrysler LLC to a group led by Italian carmaker Fiat SpA.
U.S. Supreme Court Justice Ruth Bader Ginsburg, in a one-sentence order, said the orders of the bankruptcy judge allowing the sale “are stayed pending further order of the undersigned or of the court.”
This, of course, was prompted by some of the senior creditors — Indiana state worker pension funds — complaining about the raw deal they were getting in favor of the UAW, the government, and Fiat. I spoke on that here.
I’m pretty busy today, so I’ll leave this one to the commenters… This is a pretty good time for an open thread too, as a “one-sentence order” doesn’t give a lot of evidence for serious analysis… What does this mean, and what will the fall-out be? Are we headed to a Supreme Court rebuke of the Administration?