Foes Ask Supreme Court to Block Chrysler-Fiat Deal

(NEWSER) - Fiat is bound and determined to join the big boys of the auto world, and it's using ailing US companies to gain a foothold. The Italian automaker has begun surprise talks with General Motors to buy a stake in GM's Opel division and expand its presence in Europe and Latin America, the Wall Street Journal reports. Fiat is simultaneously trying to buy a 20% stake in Chrysler, now teetering on the brink of bankruptcy. More»

Administration triumphs as bankruptcy effectively ends

(NEWSER) - Chrysler finalized its sale of assets to Fiat with a government wire transfer this morning that gave Chrysler $6.6 billion in funds to exit bankruptcy, the New York Times reports. The sale is good news for the Obama administration, which sought an “efficient” restructuring for Chrysler. It may also provide a glimpse into the future of General Motors, also navigating bankruptcy. More»

(AP) - The Supreme Court has cleared the way for Chrysler's sale to Fiat, turning down a last-ditch bid by opponents of the deal. The court late today rejected a plea to block the sale of most of Chrysler's assets to the Italian automaker. With the court's move, the deal can now close as early as tomorrow morning. More»

(NEWSER) - Supreme Court Justice Ruth Bader Ginsburg today put a temporary stay on the sale of Chrysler to Italian automaker Fiat, SCOTUSBlog reports. Ginsburg’s motion allows the justices to further consider the matter, and either postpone the sale or let it go forward. A full postponement of the sale would require five judges to agree. Ginsburg’s decision said the sale was “stayed pending further order.” More»

(NEWSER) - The last time Fiat tried to make a go of it in the US market, its unreliable cars earned it the nickname Fix It Again Tony, reports the New York Times. That was 25 years and another world ago. After a renewed focus on quality under CEO Sergio Marchionne, the Italian automaker is now hoping to rescue bankrupt Chrysler—it will have a 20% stake and three seats on the new company's board—through its new and improved technology. More»