It was recently made known that the U.S. Supreme Court has given Fiat the go ahead to purchase the bankrupt Chrysler.
This sale is an attempt by the discouraged automaker to reorganize and come back stronger than ever, narrowly dodging a grim future. Apparantly, the Michigan based Chrysler was losing up to $100 million a day which also helped convince the court to let them cancel 789 car dealership agreements.
Let’s just hope that all of this money being spent (Chrysler and GM are asking for about $40 billion more) will help America’s auto industry flourish and come back better than ever.
Read (Bloomberg)
Tags: Bankruptcy, Chrysler, economy, Fiat, recession, ruling, supreme court
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[...] is really getting around now-a-days with their recent purchase of Chrysler along with several other business ventures the company has been in talks [...]