Daily Archives: June 1, 2009

Judge Clears Sale of Chrysler to Fiat

NY Times

A federal judge on Sunday night cleared a path for Chrysler to exit bankruptcy by approving a sale of most of the carmaker’s assets to a new entity to be run by Fiat of Italy.

Judge Arthur J. Gonzalez of the United States Bankruptcy Court for the Southern District of New York approved the government-backed plan after three days of marathon hearings on the proposal. On Friday, testimony and arguments in federal bankruptcy court in Manhattan lasted nearly 12 hours.

With the approval, a newly reorganized Chrysler could come out of bankruptcy as early as this week, about a month after seeking protection, an extraordinarily short amount of time for a reorganization.

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Filed under bankruptcy, Chrysler, Fiat, NY Times

Quote of The Day

“Chris has been very specific about what’s broken with the state. …We’re not talking about electing an economic theorist here.”

Chris Christie Campaign Chairman Joe Kyrillos during interview with NJN senoir political corrospondent Michael Aron yesterday morning. 

Comment – Ya, just a guy who went to law school because he was so bad at math and science

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Filed under Chris Christie, Joe Kyrillos, Michael Aron, NJN, Steve Lonegan