Coming out of bankruptcy in 2009, it seemed like nobody wanted Chrysler. Detroit's No. 3 automaker lacked the strong products of Ford (NYSE:F) or the global scale of General Motors (NYSE:GM), and many wondered whether it was worth saving. Italian automaker Fiat (NASDAQOTH:FIATY) ended up with control of Chrysler -- mostly because nobody else wanted it.

Fiat CEO (and now Chrysler CEO) Sergio Marchionne has worked a minor miracle with Chrysler, as sales have been strong following an unlikely high-speed makeover of Chrysler's moribund product line. Now, Marchionne would like to fully merge Chrysler with Fiat -- but two things stand in his way: a Delaware judge and a giant trust controlled by Chrysler's old nemesis, the United Auto Workers.

Investors had been hoping to see a Chrysler IPO this year, but now the whole deal may be in question. In this video, Fool.com contributor John Rosevear outlines the latest developments -- and offers his view on when (and if) Fiat and the UAW will be able to agree on what's needed to get this deal done.