The State of Indiana has successfully delayed Chrysler from exiting Bankruptcy court. They took their issue all the way to the US Supreme Court in order to try an reclaim a larger portion of the money they stand to loose. What's at stake? The State has 43 million dollars invested in Chrysler which they stand to recover at a substantial loss (only $.26 on the dollar.)
Now I applaud the State for trying to get back a larger portion of the money at stake but Chrysler is, at present, loosing $100 million dollars per day due to the bankruptcy proceedings. Add to that the fact that there are THOUSANDS of idled Chrysler employees in Indiana that are facing financial disaster you have to wonder it is really a smart move. I'm sure all those employees are happy to know that their elected officials are just trying to piss off what's left of Chrysler.
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