GM/Chrysler ask for $10 Billion to support merger

[Matt Herring]

Small typo on the title of the thread....should read $10 Billion!

Story link below...

GM, Chrysler Ask for $10 Billion to Aid Merger - Automotive * US * News * Story - CNBC.com

[cfg83]

Matt -

I changed the subject to $10 billion for you.

CarloSW2

[MazdaMatt]

Let them take the money on the condition that the union cuts the salary of every person turning bolts on the auto assembly line to match the average salary of every person turning bolts on any OTHER assembly line in the country. You don't retire happily at 50 with a paid off house, cottage, boat and pension if you make fridges for a living. Lucky if you can pay the rent. These companies are failing because they can't keep up with payment obligations made in good times, and they cut costs on quality to try to make up for it.

[SVOboy]

Thanks for the link! Crazy news...

[Matt Herring]

Thanks for the edit on my thread title CFG...just a 9,990,000,000 error!

[tjts1]

The government needs to quit bailing out the dinosaurs. Let them die. They deserve it.

[Matt Herring]

I think there is no question this merger will take place and the government will be a part of it. A GM/Chrysler merger would give the new company a 36% market share and make it a prime candidate for government-bailout. Any US company with a 36% market share is too important to ignore to lawmakers representing that many employees. I did hear however that Chrysler will be virtually eliminated compared to their current status and job losses will be extremely heavy. It seems GM is absorbing Chrysler more in an effort to attain their cash on the books than their vehicle lines. Tough times in the good 'ole USA...tough times.