Well the Election is over, now President Obama and the Dems face some real serious issues.One of the major issues is whether or not the Federal Government will help the auto industry.
President Obama said he would speak to Cerberus and GM after the election.
One would speculate that with Michigan having a Democratic Governor and a new Democratic President stepping into office the merger will happen. It is just a matter of crafting a financially sound plan from the Federal Governments stand point.
Which means what will the auto companies give in return for large sums of cash?
Many reports rumor to have Cerberus talking to other potential buyers, but Cerberus wants to sell Chrysler as a whole because it would have more value. It is possible Nissan could buy Chrysler and sell off what is doesn't want.
But for Cerberus the sweet deal is with General Motors! It gets the rest of GMAC financing for Chrysler and would swiftly be out of the car business. You don't have to be an accountant, lawyer and auto beat writer to figure that out!
We will probably hear more merger news by the weeks end. This is still a serious problem that needs to be addressed immediately and millions of jobs are counting on some intelligent action.
Here is another Gm Chrysler Merger Report--Researched by Industrial Info Resources
GM-Chrysler Merger Talks on Hold Until After Election, as Bush Administration Won't Finance Buyout
SUGAR LAND--November 4, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--In-depth talks between General Motors Corporation and Chrysler LLC (Auburn Hills, Michigan) have reached an impasse and will be placed on temporary hold until after the November 4 elections, as the Bush administration has opted not to finance the merger of the two automotive giants. GM and Chrysler had been asking the Bush administration for $10 billion-$15 billion in government aid to help finance the merger; however, that aid was denied late last week.
In the meantime, Cerberus Capital Management LP (New York, New York), the private equity firm that owns the majority of Chrysler, will reopen talks with other potential suitors who may be interested in acquiring the ailing automaker.
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