Monday, June 08, 2009

SUPREME DELAYS CHRYSLER DEAL, ANDREA WILL INTERVIEW AUTO INDUSTRY EXPERT

Justice Ginsburg has delayed the Chrysler-Fiat deal. The delay is based on this objection:

"A group of Indiana pension funds argued that the sale of Chrysler unlawfully rewards unsecured creditors ahead of secured lenders and amounts to an illegal reorganization plan, and that the U.S. Treasury Department overstepped its legal authority by using bailout funds for Chrysler when Congress intended the money for banks."--read the court's order.

"...overstepped its legal authority..." Ya think?

Tonight on THE ANDREA SHEA-KING SHOW, Andrea will be interviewing an expert on the GM bankruptcy mess, and I'm sure he'll be commenting on Justice Ginsburg's decision to delay the Chrysler deal. Tune in at 9 PM ET.

Remember, as THE ANDREA SHEA-KING SHOW goes, so goes the nation.

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