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Michigan Senator Carl Levin remarked during a local debate Monday that the federal government might be agreeable to greasing the squeaky wheel in any GM takeover of Chrysler, reports the Detroit News. "No other country in the world would stand by and watch major corporations go under this way without trying to do something about it," said the senator, acknowledging that a merger could result in job losses, but an outright failure of one or both of the automakers would produce far more devastating results to the state economy. So what kind of aid might be on the way? More »
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The WSJ reports today (via Automotive News) Cerberus and GM are moving full-steam-ahead in their efforts to get a GM-Chrysler deal done by the end of October. Today also brings news Renault may have their hand in the cookie jar too, negotiating for one or more parts of Chrysler and leading to speculation the Auburn Hills, MI-based automaker could be divvied up among several companies: Basically the worst-case scenario envisioned when Cerberus Capital Management took over in 2007. Finally, we've got an unsubstantiated rumor engineering employees at Chrysler may be getting two months off sans pay beginning...drumroll please...November 1st. Coincidence? Maybe. Also, David Faber of CNBC had a chance to sit down with ChryslerCo CEO, Bob "The Builder" Nardelli; while we haven't had a chance to run through it in its entirety, hit the jump for the a full transcript of the CNBC interview with Nardelli. UPDATE: We now hear from a Chrysler source that rumors of an engineering furlough are not true; that's why we call them "rumors." More »
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Though the possibility of a GM-Chrysler Merger remains but a 50/50 chance, the non-denial denials have sent our heads spinning. Are conversations actually taking place? Of that we're certain. Will it actually happen? Hard to say. Will it magically save both companies? Even harder to say. What we do know is a combined company would have a lot of products to draw from across various segments, and their lineups are actually, with the right cuts and decisions, more complementary than you would think. We've taken a look at what choices a merged company should make to build their ultimate lineup should the two automakers industrially copulate, recognizing the production realities, brand equity, dealer concerns and other factors that would go into such a decision. You, dear readers, should take this as a starting point to draft and build your ultimate fantasy company in the comments below. More »
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The shocking news that talks on a potential GM-Chrysler merger are ongoing (and that GM sought out Ford first) got us thinking about the product lines of the two merging companies — you know, if this even happens, of course. But we've all seen it before. Two people move in together and stuff has to go. You don't need two coffee tables. You don't need two sets of cutlery. You don't need two Rain Dogs LPs. Given the market and recent performance it's clear that they can't carry on two separate lines. But what stays and what goes? More »
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As if the late-breaking Friday night news of merger talks between Chrysler and GM weren't astonishing enough, Bill "Pickles" Vlasic at the New York Times continued the onslaught of amazement with a follow-up story that GM had initially approached Ford before speaking to Chrysler. Apparently, GM execs approached Ford about a possible merger in July but Ford rejected the idea despite the talks progressing until as late as last month. And we though it was hard creating a name for a merger of GM and Chrysler — try coming up with one for Ford and GM. Best we could come up with was "Big Blue Moval." More »
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According to a report by Bill Vlasic and Andrew Ross Sorkin that just went live on the New York Times website, Chrysler and GM have been in merger talks for the last month. As of today, it's a "50-50" shot that it'll happen. While we've been talking about talks between the two companies for over a year — specifically on trucks — this is something entirely different. Just think, we may finally see the all-vinyl body we've been asking American automakers for all these years. We'll have more shortly — CNBC just called and asked us to jump on the phone for a moment to discuss on air. More »
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