Discuss Detroit » Archives - July 2008 » Chrysler Not Interested in Nissan Merger, Talks Halt « Previous Next »
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Ltorivia485
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Username: Ltorivia485

Post Number: 3179
Registered: 08-2004
Posted on Saturday, November 01, 2008 - 4:21 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

This is really bad. Chrysler is willing to risk 30-40,000 jobs so that they can get GMAC financing. Typical private company mentality...

"Talks between the Renault-Nissan alliance and Cerberus Capital Management LP have stopped as both sides acknowledged Cerberus's preference to conclude a deal for Chrysler LLC with General Motors Corp., according to sources familiar with the situation.

No more talks between Cerberus and Renault-Nissan negotiators have been scheduled, the sources said Friday, although the parties have not ruled out discussions in the future.

Cerberus and Nissan declined to comment. But sources close to Cerberus have said the private-equity firm favors a GM-Chrysler deal, viewing it as financially more advantageous and also better for the U.S. auto industry."

http://www.detnews.com/apps/pb cs.dll/article?AID=/20081101/A UTO01/811010377

http://info.detnews.com/redesi gn/forums/autostalk/lettersind ex.cfm?forum=autostalk&topic=G M%2DCHRYSLER%20MERGER
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Publicmsu
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Username: Publicmsu

Post Number: 783
Registered: 11-2003
Posted on Saturday, November 01, 2008 - 8:33 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Any sort of merger is going to result in thousands of lost jobs in and around the Metro Detroit area.

I still don't understand how the GM / Chrysler merger is best for the automotive industry. The only thing that would make this a good deal would be the support from the government. If the big guys in Washington want to foot the bill for buyouts and the merger... what a great thing it will be. As much as I hate to see these companies fail, they've done it to themselves.

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