GM Chrysler Merger

[glanga]

http://voanews.com/english/2008-10-11-voa4.cfm

Reports: GM, Chrysler Discuss Merger
By VOA News
11 October 2008



U.S. auto giant General Motors is reported to be in preliminary talks with Chrysler about a possible merger.

The New York Timesand The Wall Street Journal cite people familiar with the discussions. They say the talks began last month between GM and Cerberus Capital Management, a private equity firm that owns Chrysler.

The possible merger could reduce the so-called "Big Three" automakers of Detroit to the Big Two. Ford is also based in Detroit.

The New York Timesreports Cerberus is also in talks with other automakers, including Nissan and Renault.

The global financial crisis has increased fears the Unites States' biggest automakers could be forced into bankruptcy. Car sales have fallen sharply and analysts say potential car buyers cannot get loans.

Some information for this report was provided by AP.

 

[Lucky_Ls]

I'll be looking forward to getting the first Chevy 300C SS on my block!

 

[jhargarage]

how bout the Cobalt Viper? Or the HHR Nitro..........

 

[brentalan]

They say it is a 50/50 chance of happening. I think the negatives may outweigh the positives.

 

[Joeys Lincoln]

I'd rather Chrysler die then GM pick up a company that's in worse condition then itself.

 

[Conti94]

I'd rather Chrysler die then GM pick up a company that's in worse condition then itself.

Ditto, it seems everything Chrysler touches in at least the last decade turns to mush. I think they are just plain cursed.

 

[jhargarage]

The Challenger came 3 years to late.. Should have run with the 05 Mustang.

 

[foxpaws]

And how many years late was the Camaro - whew -

 

[glanga]

Chrysler was driven into the ground by Mercedes. And unfortunately driven even further into the ground by its current holding company.

GM would be signing its death sentence if they took on a doomed company like Chrysler. Which is stupid since they seen to be slowly getting on the right track. Chrysler needs to be bought by a stable foreign auto company that can inject some good engineering and craftsmanship into it.