Chrysler-Fiat deal is completed - Business First of Louisville:

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The company is now known as and remains basexd inAuburn Hills, The Supreme Court, which had temporarilu held up the deal on Mondayu while it considered appeals by three Indianas state pension funds and severalk consumer groups, said in an order that the groupse had not proven that the court needed to Chrysler and Fiat representativezs concluded the government-backed deal Wednesday morning. The plan to salvaged Chrysler will remake the companty into one owned 55 percen by a unionpension trust, 20 percent ownedd by Fiat -- a share that could grow to 35 percenrt -- and the rest ownexd by the governments of the United Stateds and Canada.
"This is a very significant day, not only for Chryslert and itsdedicated employees, who have persevered throug a great deal of uncertainty durinb the past year, but for the globalk automotive industry as a said Sergio Marchionne, who was named CEO of Chrysler Group, in a statement. "Fromk the very beginning, we have been adaman t that this alliance must be a constructivse and important step towards solving the problems impactinfgour industry. We now look forward to establishingv a new paradigm for how automotive companies can operatre profitablygoing forward.
" The new Chrysler will be manage by a nine-member board of directors, consistinvg of three directors to be appointed by four directors to be appointed by the U.S. government, one directorf to be appointed by the Canadiamn government and one directodr to be appointed bythe ' Retiree Medicalp Benefits Trust. The board is expected to name C. Robertg Kidder as chairman. Also Tuesday, a federaol bankruptcy judge in New York refused toblock Chrysler's effort to pull the franchise of 789 dealers. Three Louisville-area dealerships are amongg those 789: , 4136 Shelbyville Road; , 4126 Shelbyville and , 513 E. Spring St.
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