High court clears way for Chrysler's sale to Fiat

[mettle]

'High Court'? Are we England now? Anyways....


link....

High court clears way for Chrysler's sale to Fiat - Yahoo! News

 

[The Meach]

The sad thing is, the three pension funds that are gonna get destroyed by this are the State-police, Fire-fighters, and Teachers

Way to go again Fed's. I can see the markets taking a massive hits soon as people find out what this precedent is gonna do to 401k's and tens of millions of people cash out before they lose what they have left.

 

[Bill of Rights]

That term has been used for SCOTUS for at least 30 years and is accurate; they are, in fact, the only court created by the Constitution, and all others are "such lower courts" as the Congress may from time to time create.

Blessings,
Bill

 

[mettle]

The sad thing is, the three pension funds that are gonna get destroyed by this are the State-police, Fire-fighters, and Teachers

Way to go again Fed's. I can see the markets taking a massive hits soon as people find out what this precedent is gonna do to 401k's and tens of millions of people cash out before they lose what they have left.

been thinking of telling my wife to cash out here small 401 thru the contract VA she works at. It is probably just draining anyways...

 

[antsi]

I think the pension fund managers have a point.

It appears to me that the Feds just arbitrarily changed the rules about who gets what in a bankruptcy, moving their UAW buddies to the front of the line.

It seems property rights and the rule of law are out of fashion these days, and we will henceforth be Ruled by Decree.

 

[4sarge]

I think the pension fund managers have a point.

It appears to me that the Feds just arbitrarily changed the rules about who gets what in a bankruptcy, moving their UAW buddies to the front of the line.

It seems property rights and the rule of law are out of fashion these days, and we will henceforth be Ruled by Decree.

Exactly. Obama's Czars answer to no one but him, not Congress, or to constituents. This Supreme Court Failure to Act isn't good for our side. Their ruling in favor of the Pension Funds would have slowed Obama's Power Grab. They have given him a Green Light to proceed to circumvent the US Constitution and Rule of Law

 

[lacroixdp]

This whole bankruptcy has made me absolutely furious. Obama's administration is clearly abusing the bankruptcy system with this sale. IMHO, the case that was presented to the supreme court was completely legitimate... for them to **** away the case by saying they didn't meet their 'burden of proof' shows me this whole case was a farce - they bowed down to the POTUS instead of doing their jobs. Inexcusable.

 

[Hoosier Gun Coat]

I would still like to know what Fiat is paying for their share. From my understanding NOTHING. They are bringing small car technology to the table. Small car technology from their line of piece of **** cars. And to think no one from Chrysler can come up with any small car technology?? So how can it be called a sale if no one is paying anything for it. Do they even sell Fiats in the US anymore? My mom & dad had one when I was young. It was like riding in a pop can. Worse than the Festivas.

check this out. I'm really eyebaling this one.

Tesla Motors

I will never ever buy a GM or Chrysler vehicle. I will roller blade to work before I do it.

 

[4sarge]

I would still like to know what Fiat is paying for their share. From my understanding NOTHING. They are bringing small car technology to the table. Small car technology from their line of piece of **** cars. And to think no one from Chrysler can come up with any small car technology?? So how can it be called a sale if no one is paying anything for it. Do they even sell Fiats in the US anymore? My mom & dad had one when I was young. It was like riding in a pop can. Worse than the Festivas.

check this out. I'm really eyebaling this one.

Tesla Motors

I will never ever buy a GM or Chrysler vehicle. I will roller blade to work before I do it.

It's simply put, Redistribution of Wealth. Obama is the Ghetto Robin Hood, Steal from the Wealthy (Read Middle Class) and Give to the Poor (Welfare Recipients). Education was dumb downed and now the American Economy. America is entering a very destructive phase and if NOT stopped (soon) there will truly be the ruling class, power elite and the unarmed serfs (they won't be blue). It is indeed a sad day for America that SCOTUS did not stand up to the POTUS or in this case TOTUS.

 

[CarmelHP]

Fiat closes deal to take Chrysler's good assets





AP – A Chrysler PT Cruiser is on display at a Chrysler dealership listed as losing their franchise, in Redwood …


9 mins ago
DETROIT – Italian automaker Fiat says it has closed a deal to take over Chrysler's good assets, forming a new company and clearing the way for the struggling Chrysler to emerge from bankruptcy protection.
Fiat signed on to the deal early Wednesday after the U.S. Supreme Court late Tuesday refused to hear an appeal of lower court rulings that approved the asset sale.
The deal means that Fiat CEO Sergio Marchionne will take over control of Chrysler.
The Italian automaker won't put any money into the deal but will give Chrysler sorely needed small-car and fuel-efficient engine technology.




Oh whatever, the name FIAT is appropriate for what was done.

 

[mettle]

I'm not buying GM or Chrysler either, ever.

 

[rmcrob]

I guess our teachers won't be able to retire.

Just like I won't be able to retire because my 401k is in the tank.

Oh well. At least they get summers off.

 

[sporter]

You guys can swear off Chrysler and GM products but remember those companies and their employees have contributed many Billions of dollars in tax revenue from being one of the major employers in Indiana.
Those companies are one of the reasons this state is as great as it is.

Chyrsler, GM, it's suppliers like Cummins and the automotive sector in general are what keep many major Indiana cities going.

 

[joslar15]

It's bad enough that pension funds were raided and the wealth REDISTRIBUTED to the UAW, but an even more troubling precedent has been set. The fundamental principal of being a secured creditor has been changed.

Being a secured creditor is now meaningless, at least in the way I interpret all of this.

Secured creditor? Sorry, UAW takes priority. You can fight for the crumbs!!

 

[rmcrob]

You guys can swear off Chrysler and GM products but remember those companies and their employees have contributed many Billions of dollars in tax revenue from being one of the major employers in Indiana.
Those companies are one of the reasons this state is as great as it is.

Chyrsler, GM, it's suppliers like Cummins and the automotive sector in general are what keep many major Indiana cities going.

It's true. Chrysler and GM were geese that laid golden eggs. Guess who killed them.

 

[4sarge]

You guys can swear off Chrysler and GM products but remember those companies and their employees have contributed many Billions of dollars in tax revenue from being one of the major employers in Indiana.
Those companies are one of the reasons this state is as great as it is.

Chrysler, GM, it's suppliers like Cummins and the automotive sector in general are what keep many major Indiana cities going.

They just got those BILLIONS back at TaxPayer Expense. I do not totally Blame GM or Chrysler BUT they took the Obama Dough to create a Government Run Socialized Car Company. I'll never buy another until the $$'s are paid back and the Government is out

[ame]http://www.youtube.com/watch?v=usyPnsjlOzM[/ame]

 

[jedi]

It's bad enough that pension funds were raided and the wealth REDISTRIBUTED to the UAW, but an even more troubling precedent has been set. The fundamental principal of being a secured creditor has been changed.

Being a secured creditor is now meaningless, at least in the way I interpret all of this.

Secured creditor? Sorry, UAW takes priority. You can fight for the crumbs!!

That is what is the MOST disturbing thing in this whole matter. Forget that FAIT is not paying anything for this deal. What is the CRITICAL thing is that a contract and the rule of law and meaningless now since the FEDs can step in on any case and just change the rules.

 

[Joe Williams]

You guys can swear off Chrysler and GM products but remember those companies and their employees have contributed many Billions of dollars in tax revenue from being one of the major employers in Indiana.
Those companies are one of the reasons this state is as great as it is.

Chyrsler, GM, it's suppliers like Cummins and the automotive sector in general are what keep many major Indiana cities going.

Chrysler and GM have stolen billions from the rest of us Americans, their government owners have crapped on the rule of law, their actions will make credit next to impossible to attain. They only way they will now be able to survive will be when the government drives the competition out of business, which will be what happens next.

Far as I'm concerned, those GM and Chrysler employees should go find honest work. Hell, going on welfare would be more honorable than continuing to work for those two companies. Let companies and anyone who continues to suck at our **** sink, as they should.

 

[joslar15]

They just got those BILLIONS back at TaxPayer Expense. I do not totally Blame GM or Chrysler BUT they took the Obama Dough to create a Government Run Socialized Car Company. I'll never buy another until the $$'s are paid back and the Government is out

The sheep need to be reminded that our Indiana pensioners are effectively subsidizing this TWICE! Through normal government revenue (OUR TAXES) and through the loss of their pension dollars invested in Chrysler!

 

[HICKMAN]

hmm, so 3 sets of union folks are getting screwed over so one set continues to get supported...