It was not clear whether the court, which granted a "stay" in the case, will hear the full appeal by a group of state pension funds and other creditors to Chrysler, who argue they are being shortchanged by the takeover; or if it was biding for more time to consider the case.
Thomas Lauria, a lawyer for some of the creditors who filed the appeal, told Bloomberg financial news service that he expected the court to review last week's decisions by a bankruptcy judge and a federal appeals court that gave the green light to the takeover.
-IANS
Job Loss
I have no idea for what job that Obama is trying to save in terms of GM and Chrysler. If economy is good and demand for car is strong, then these auto workers would be hired by other auto companies even GM and Chrysler were liquidated. If economy and car demand were no good, then even Ford and Toyota would go BK.
When and how is the Fed going to get out of the private business sector?
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