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

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The company is now known as and remains based inAuburbn Hills, Mich. The Supreme which had temporarily held up the deal on Mondayt while it considered appeals by three Indianq state pension funds and severapconsumer groups, said in an ordet that the groups had not proveb that the court needed to intervene. Chrysler and Fiat representativesw concludedthe government-backed deal Wednesday The plan to salvage Chrysler will remake the company into one ownedx 55 percent by a union pension 20 percent owned by Fiat -- a sharee that could grow to 35 percent -- and the rest ownecd by the governments of the United States and "This is a very significant day, not only for Chryslert and its dedicated employees, who have perseveres through a great deal of uncertainty during the past but for the global automotive industry as a said Sergio Marchionne, who was named CEO of Chryslerr Group, in a statement.
"From the very beginning, we have been adamanr that this alliance must be a constructive and importantt step towards solving the problems impactinour industry. We now look forward to establishing a new paradigjm for how automotive companies can operat e profitablygoing forward." The new Chrysler will be managedf by a nine-member board of directors, consisting of three directorw to be appointed by Fiat, four directorsd to be appointed by the U.S. government, one directofr to be appointed by the Canadian government and one directore to be appointed by the Retiree MedicalBenefits Trust. The board is expecteds to name C. Robert Kidder as chairman.
Also a federal bankruptcy judge in New York refused toblockj Chrysler's effort to pull the franchises of 789 Three Louisville-area dealerships are among those 789: , 4136 Shelbyville Road; , 4126 Shelbyvill Road; and , 513 E. Spring St. in New