Chrysler

I would be remiss if I did not not note that the Supreme Court cleared the way for the Fiat deal to go through. So I am forced to withdraw my comments about the interfering nature of lawyers, and the way in which they can add cost but no value to deals like Chrysler’s. Well at least for now. The Supreme Court managed to avoid being controversial: it didn’t opine on the legality of the government’s role in the deal. Instead it confined itself to saying that the pension funds who had brought the action had failed to convince the Court of the need for it to get involved. So tough on them.

Nice.

Even nicer is the idea of making a living by avoiding getting involved in a case where everyone else seems to think the government was throwing its weight around illegally. Not that I care too much: the deal makes sense economically, even if it plays with the law.

Next up: GM. That’s the big one.