Chrysler-GM Deal Moving Forward

Justin Berkowitz
by Justin Berkowitz
chrysler gm deal moving forward

Reuters is now reporting that the Chrysler-GM merger (or sale, which is what it should actually be called) is moving forward. Or in their terms, the two have “cleared major deal issues.” The bad news arrives in the second sentence: “Both sides have agreed that GM Chief Executive Rick Wagoner would lead the combined automaker.” Other highlights: Reuter’s sources confirm the what many already suspected about this “merger” being more of a swap for GM’s remaining stake in GMAC. As Reuters observes, the biggest issue will be securing financing to make this whole debt-mess work and keep the companies afloat, and that’s where the White House and Congress will come in with their money printing press.

Join the conversation
4 of 15 comments
  • Theodore Theodore on Oct 29, 2008
    Ken Elias : October 29th, 2008 at 7:42 pm Someone needs to do a rehash of the NY Central/Pennsylvania RR merger. We know what happened there. Yup. I've been saying "this has Penn Central written all over it" since first hearing of the idea. We can only hope that American Leyland turns out as well as Conrail.
  • Redbarchetta Redbarchetta on Oct 29, 2008
    “Both sides have agreed that GM Chief Executive Rick Wagoner would lead the combined automaker.” This has got to be one of the signs of the apocalypse. Why why why? The world is confusing THIS is insanity. At least we know things will never change and Robert lots to write about for a very long time. It's like picking the captain of the Titanic to steer a fleet of cruise ships while the Titanic is taking on water, MADNESS!
  • Wolven Wolven on Oct 30, 2008

    Why, why, why are Americans sitting on their big wide duffs doing nothing while their guv'ment ROBS THEM BLIND and gives all their ass(ets) to the F@#&ing Multi-Millionaires? Where are the Thomas Jeffersons, Nathan Hales, George Washingtons of OUR age? The very LEAST we could do is vote EVERY SINGLE ONE of the MFing incumbents out of office, REGARDLESS of party affiliation, JUST VOTE NO to ALL of them. (Except Ron Paul, I think he's the only American left in Congress)

  • Kurt. Kurt. on Oct 30, 2008

    Just maybe ... they know it won't work and Rick will be the "fall guy" since we all know it this ship will sink with him at the helm. I think I see him standing on the bow of the Titanic pretending to fly... Kurt.