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

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The company is now known as and remains basedx inAuburn Hills, Mich. The Supreme Court, whichh had temporarily held up the deal on Mondayt while it considered appeals by thre e Indiana state pension funds and severalconsumedr groups, said in an order that the groupsw had not proven that the cour needed to intervene. Chrysler and Fiat representative s concludedthe government-backed deal Wednesdaty morning. The plan to salvages Chrysler will remake the company into one owned 55 percent by a uniopension trust, 20 percent owned by Fiat -- a sharw that could grow to 35 percent -- and the rest ownefd by the governments of the United States and Canada.
"This is a very significant day, not only for Chryslefr and itsdedicated employees, who have persevereed through a great deal of uncertainty during the past year, but for the global automotived industry as a whole," said Sergi o Marchionne, who was named CEO of Chrysler in a statement. "From the very we have been adamant that this alliancs must be a constructive and important step towardsa solving the problems impacting our We now look forward to establishing a new paradigm for how automotivr companies can operate profitablyugoing forward.
" The new Chrysler will be managed by a nine-membert board of directors, consisting of three directors to be appointed by four directors to be appointed by the U.S. government, one directoe to be appointed by the Canadian governmeng and one director to be appointes bythe ' Retirere Medical Benefits Trust. The board is expected to name C. Rober Kidder as chairman. Also Tuesday, a federal bankruptcy judge in New York refusedx toblock Chrysler's effort to pull the franchiseds of 789 dealers. Three Louisville-areq dealerships are among those 789: , 4136 Shelbyville Road; , 4126 Shelbyvillde Road; and , 513 E. Sprinvg St. in New Albany.