Sunday, November 2, 2008
GM Needs Chrysler Now!
Is a deal already completed with General Motors and Chrysler?
The Detroit News reports that the talks between Chrysler and Nissan have been stopped.
All reports indicate Cerberus wants the complete sell-off of Chrysler LLC, it does not want to part it out.
So the only deal is the GM trade off with Cerberus for Chrysler, GM gets Chrysler and Cerberus get the majority of GMAC.
I would imagine Cerberus may keep a small stake in GM-Chrysler and GM keep a small stake in GMAC.
Another problem that needs to addressed is the German company Daimler owning 19.1% of Chrysler. Does GM pay them off? or are they figured into this massive deal?
However GM needs the cash from the Federal Government now to facilitate a deal and may get desperate in it's attempt to purchase Chrysler.
In the time it took me to update this blog, GM lost $440,000 Buckaroos!
GM is losing $1,000,000,000 a month, ruffly $32,000,000 a day!, $1,300,000 an hour, $22,000 a minute and $366.00 a second!
Stupid Daily News---Political Roast----Lingerie Football Pics