UFO Info Week-End

The Supreme Court in a brief two-page order said thechallengers had not met their burden of

The Supreme Court in a brief two-page order said thechallengers had not met their burden of showing that a delaywas justified. The court’s action was not a decision on the merits of theunderlying legal issues, the justices said. And they said theirassessment was “based on the record and proceedings in thiscase alone.” The Chrysler dispute marked the first time the SupremeCourt had been confronted by legal issues involving the U.S.government’s power to deal with the economic crisis The White House welcomed the high court’s action. “We are delighted that the Chrysler-Fiat alliance can nowgo forward, allowing Chrysler to reemerge as a competitive andviable automaker,” said an White House official, speaking oncondition of anonymity.

“We are gratified that not a single court that reviewedthis matter, including the U.S. Supreme Court, found any faultwhatsoever with the handling of this matter by either Chrysleror the U.S government,” the official said. CAPPED THREE DAYS OF HIGH COURT ACTIVITY The Supreme Court’s refusal to block the deal capped threedays of intense activity, with written briefs filed over theweekend and even earlier on Tuesday by both sides in the legalbattle. The court lifted a temporary stay of the sale granted bySupreme Court Justice Ruth Bader Ginsburg on late Monday in amove widely seen as giving the court more time to weigh whetherto intervene. The pension funds argued that the Chrysler sale unlawfullyrewarded unsecured creditors ahead of secured lenders, that itamounted to an illegal reorganization plan, and that the U.S.Treasury Department overstepped its powers by using bailoutfunds for Chrysler when Congress intended the money for banks.

Chrysler and the Obama administration urged the SupremeCourt to allow the sale to go forward and said a long delaycould kill the deal, resulting in the automaker’s liquidationand the loss of more than 38,000 jobs. They cited Chrysler’s worsening financial situation, with$100-million-a-day losses The sale agreement sets a June 15deadline to close. It would have taken the votes of five of the nine SupremeCourt members to put the deal on hold. The court acted with norecorded dissent from any of the justices. Chrysler filed for bankruptcy protection on April 30 tocomplete the sale and alliance with Fiat within 60 days, in acase that analysts have seen as a test for the much bigger andmore complex bankruptcy of GM.

The $2 billion sale of Chrysler’s assets to a new companythat will be 68 percent controlled by a healthcare trustaligned with the United Auto Workers union was approved by aU.S bankruptcy judge on June 1 Fiat will control 20 percent, the U.S and Canadiangovernments will control the other 12 percent Both a federal bankruptcy judge and a U.S appeals court inNew York have approved the sale. (Additional reporting Emily Chasan in New York and by RossColvin and Joanne Allen in Washington; Editing by Gary Hill) Stocks Mergers & Acquisitions Bonds Italy Bankruptcy. LAKE OSWEGO, Ore., June 9 /PRNewswire-FirstCall/ — The Greenbrier Companies(NYSE: GBX) announced today the election of Victoria McManus to the Company’sBoard of Directors.The election of Ms. McManus increases Greenbrier’s Boardof Directors to nine members, six of which are independent.Ms. McManus’ credentials include over twenty years experience in the financeindustry, with emphasis on the rail equipment sector.Ms. McManus, a long time resident of New York City, was head of Babcock &Brown’s North American Rail Group, from its founding in 1999 until mid-2008. During this tenure, the Rail Group raised significant capital from theEuropean and Asian markets for investment in rail assets placed underoperating leases, and became a major participant in the rail equipmentmarketplace.Before joining Babcock & Brown, Ms.

McManus was an executivewith The CIT Group for ten years.Her last position at CIT was President ofthe Rail Division, where she changed the strategic direction of the businessto a full service platform to provide both financial and equipment leasingservices to the rail freight industry.”We are delighted to have Victoria McManus join Greenbrier’s Board,” saidWilliam A Furman, president and chief executive officer of Greenbrier. “Victoria is a well-known innovator in our industry, with whom we have createdmuch value for our industry and respective shareholders over the years.Herexpertise and leadership in our sector, with particular emphasis on leasingand access to capital, will be extremely helpful to the Company.”Greenbrier (), headquartered in Lake Oswego, Oregon, is a leadingsupplier of transportation equipment and services to the railroad industry.The Company builds new railroad freight cars in its three manufacturingfacilities in the U.S and Mexico and marine barges at its U.S facility. Italso repairs and refurbishes freight cars and provides wheels and railcarparts at 38 locations across North America. Greenbrier builds new railroadfreight cars and refurbishes freight cars for the European market through bothits operations in Poland and various subcontractor facilities throughoutEurope. Greenbrier owns approximately 9,000 railcars, and performs managementservices for approximately 217,000 railcars.”SAFE HARBOR” STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF1995:This release may contain forward-looking statements. Greenbrier useswords such as “anticipate,” “believe,” “plan,” “expect,” “future,” “intend”and similar expressions to identify forward-looking statements. Theseforward-looking statements are subject to certain risks and uncertainties thatcould cause actual results to differ materially from those reflected in theforward-looking statements.