Supreme Court Gives Chrysler Fiat Go

The news maker reports on Supreme Court's decision.

"Indiana Treasurer Richard Mourdock had appealed the ruling of a federal bankruptcy court. Mourdock made his appeal on behalf of three pension funds -- for Indiana teachers and state police, as well as a "Major Moves" construction fund. The funds hold about $42 million, or less than 1%, of Chrysler's $6.9 billion debt.

"We are delighted that the Chrysler-Fiat alliance can now go forward, allowing Chrysler to re-emerge as a competitive and viable automaker," the White House said in a statement issued after the Supreme Court order.

"If the Chrysler deal goes through, Chrysler would sell its best assets -- including its best-performing factories and dealerships -- to a newly formed entity called the Chrysler Group."