|U.S. automaker Chrysler on Monday slammed Indiana State Treasurer Richard Mourdock as making demands that would ultimately push the carmaker into liquidation -- resulting in the loss of more than 4,000 jobs and 9,000 retiree pensions in Indiana alone.|
Mourdock, who oversees pension funds invested in Chrysler debt, has objected to Chrysler LLC's plan to quickly sell itself in bankruptcy, claiming it is a dangerous path that would hurt pensions for thousands of his state's retirees.
The Indiana pension funds have filed court papers requesting that an examiner be appointed to investigate Chrysler's business decisions, and that the company be placed in the hands of a Chapter 11 trustee who can act independently of the government. The funds also mounted a challenge to the company's plan in U.S. District Court.
Chrysler claimed in a statement on Monday that Mourdock, a Republican, is willing to put Chrysler in liquidation over less than 1 percent of the three funds' assets.
It calculates that the combined Chrysler-related investments in the three state pension funds in question totaled approximately $17 million and the cumulative loss under the proposed deal would be about $2 million.
"The treasurer's actions lead one to wonder if his motives are financial or political," the statement said.
The student learns well from its masters on how to raise questions.