GM, Chrysler reportedly hold merger discussions (could eliminate Chrysler afterwards)
10-10-08, 08:42 PM
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GM, Chrysler reportedly hold merger discussions (could eliminate Chrysler afterwards)
http://www.msnbc.msn.com/id/27125864
Obviously, GM is in no place to "acquire Chrysler" as the first line says. But an equal merger would seem possible. This makes more sense than GM and Ford getting married (because of their rival history).
General Motors has held discussions about acquiring Chrysler, The New York Times and Wall Street Journal reported late Friday.
The talks between GM and Cerberus Capital Management, which owns Chrysler, began more than a month ago, the Times reported on its Web site.
The Journal reported that the talks were "rendered inactive" because of the upheaval in financial markets but that people familiar with the developments said the talks could be revived quickly if markets stabilize.
Two people close to the talks told the Times the chances of a merger were “50-50.”
The talks between GM and Cerberus Capital Management, which owns Chrysler, began more than a month ago, the Times reported on its Web site.
The Journal reported that the talks were "rendered inactive" because of the upheaval in financial markets but that people familiar with the developments said the talks could be revived quickly if markets stabilize.
Two people close to the talks told the Times the chances of a merger were “50-50.”
10-11-08, 04:23 AM
#2
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Wow. so many potential mergers currently going on. This one, nissan/renault & chrysler, bmw & mercedes, porsche still gobbling up VW.
I wonder if this will lead to shared products? Damn, could you imagine all the redundant products!!? Hopefully it doesn't get that far.
I wonder if this will lead to shared products? Damn, could you imagine all the redundant products!!? Hopefully it doesn't get that far.
10-11-08, 06:07 AM
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10-11-08, 08:47 AM
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The only way it can work is if somehow they can break the union obligations. Otherwise you'd just be putting two overlapping debt-laden corps together, which has NEVER worked.
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10-11-08, 08:04 PM
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10-15-08, 07:03 AM
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Unions: We oppose merger if it means job losses
By KATIE MERX • FREE PRESS BUSINESS WRITER • October 14, 2008
Union leaders said today they would oppose any merger between automakers that would eliminate jobs.
Asked how a General Motors Corp. merger with Chrysler would affect UAW workers, UAW President Ron Gettelfinger, speaking on WWJ-AM (950), said he would be opposed to any deal that reduced the job force.
“I personally would not want to see anything that would result in a consolidation that would mean the elimination of additional jobs,” Gettelfinger said. “But we’ve not had any official discussions at all with any of the companies.”
The German newspaper Handelsblatt reported today that the top labor leader for GM Europe, Klaus Franz, called the potential merger “an absolute catastrophe.”
Franz was quoted as saying that such a merger would only increase GM’s problems and said Chrysler, whose majority owner is the private equity firm Cerberus, has nothing that GM needs.
“Combining two people with bad feet does not create a marathon runner,” Franz said. “And with Cerberus there would be a third sick person on board.”
By KATIE MERX • FREE PRESS BUSINESS WRITER • October 14, 2008
Union leaders said today they would oppose any merger between automakers that would eliminate jobs.
Asked how a General Motors Corp. merger with Chrysler would affect UAW workers, UAW President Ron Gettelfinger, speaking on WWJ-AM (950), said he would be opposed to any deal that reduced the job force.
“I personally would not want to see anything that would result in a consolidation that would mean the elimination of additional jobs,” Gettelfinger said. “But we’ve not had any official discussions at all with any of the companies.”
The German newspaper Handelsblatt reported today that the top labor leader for GM Europe, Klaus Franz, called the potential merger “an absolute catastrophe.”
Franz was quoted as saying that such a merger would only increase GM’s problems and said Chrysler, whose majority owner is the private equity firm Cerberus, has nothing that GM needs.
“Combining two people with bad feet does not create a marathon runner,” Franz said. “And with Cerberus there would be a third sick person on board.”
10-15-08, 07:11 AM
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The unions are stuck in the 1960s....they are nuts. THey have no choice or they will lose EVERY job.
I really like GMs turnaround, they are trying. Chrysler on the otherhand is the brand for 500 FICO scores and their lineup is pretty damn terrible.
If I was GM, I would NOT want to be involved with them.
I really like GMs turnaround, they are trying. Chrysler on the otherhand is the brand for 500 FICO scores and their lineup is pretty damn terrible.
If I was GM, I would NOT want to be involved with them.
10-15-08, 08:53 AM
#14
The unions are stuck in the 1960s....they are nuts. THey have no choice or they will lose EVERY job.
I really like GMs turnaround, they are trying. Chrysler on the otherhand is the brand for 500 FICO scores and their lineup is pretty damn terrible.
If I was GM, I would NOT want to be involved with them.
I really like GMs turnaround, they are trying. Chrysler on the otherhand is the brand for 500 FICO scores and their lineup is pretty damn terrible.
If I was GM, I would NOT want to be involved with them.
