Gentleman, we can rebuild it.
Posted on 10/10/2008 7:56:27 PM PDT by Azzurri
DETROIT — General Motors is in preliminary talks about a possible merger with Chrysler, a deal that could drastically remake the landscape of the auto industry by reducing the Big Three of Detroit automakers to the Big Two.
The talks between G.M. and Cerberus Capital Management, the private equity firm that owns Chrysler, began more than a month ago, and the negotiations are not certain to produce a deal. Two people close to the process said the chances of a merger were “50-50” as of Friday and would most likely still take weeks to work out.
A merger would be a historic event, with two of the most iconic names in American industry coming together to survive in an increasingly difficult environment. Both have roots dating back decades in Detroit and, with Ford, long dominated the auto industry — until Japanese and other foreign car makers began making inroads into the American market.
The auto industry is being pummeled from all sides — by high gas prices that have soured consumers on profitable S.U.V.’s, by a softening economy that has scared shoppers away from showrooms, and by tight credit that is making it difficult for willing buyers to obtain loans. Both G.M. and Chrysler have been struggling with product lineups that are out of sync with consumer demand for smaller, more fuel-efficient cars.=
(Excerpt) Read more at nytimes.com ...
Two sick men do not make one healthy man.
What will they call it General Goat?
agree.
pathetic.
they’re reaching out for straws.
the unions and bad management ruined them.
I can't say I weep for them, although some people very close to me are collecting GM pensions.
On our way to the United States Automobile Department. One more merger to go.
Gentleman, we can rebuild it.
I don’t know what they have in mind, but this looks like foolishness. GM needs to ELIMINATE brands rather than add Chrysler, Dodge and Jeep. GM should cut Pontiac, Buick, GMC, Saab and Saturn, and focus on its two best makes: Chevrolet and Cadillac.
“On our way to the United States Automobile Department. One more merger to go.”
Who cares? Let ‘em merge. We can always buy foreign until some new company rises up to replace them.
“On our way to the United States Automobile Department. One more merger to go.”
Who cares? Let ‘em merge. We can always buy foreign until some new company rises up to replace them.
Cool ! A uncomfortable vehicle that won’t run !
How innovative.....
In the 90s they brought in John Smale from Proctor and Gamble, and he brought in the brand managers and all that garbage...no more cars guys, they had to hire people who had excelled at marketing Pampers or Tylenol. Of course, that was a disaster, but the SUV and light truck boom papered over it as the car divisions went on losing tons of money.
Used to be you went to Michigan or Ohio State, started at GM, was transferred to an increasingly responsible position every three years...they would pay your way through GMI for graduate school. It would weed out the bad apples and give you top shelf, experienced and tried and trued managers.
During the last 90s, you had HR walking through offices asking people to take buyouts....looking for numbers to meet a quota, and not actually realizing who was leaving.
Then you had the talented folks, like the heads of the Silverado launch and advertising campaign s taking buyouts and being lured by Toyota to launch the full-size Tundra.....which was pretty successful if you recall...
They smartened up over at Chrysler. One of my family members is an engineer there seeking a buyout, but they won’t give her one.
I agree.
This should be rather cheap. What’s Chrysler’s stock price?
Chrysler is private.
That sounds like an interesting back story on the Silverado -> Tundra thing. Got any articles or anything on that particular brain drain?
GM Chrysler. At least we’ll have another replacement for a swear I don’t want to use.
Its kinda sad, you guys got to remember chrysler was owned by dbag(appropriately named) they raided anything of value chrysler had to offer and took it to Germany. Chrylser got the 300 out of the deal, it is a good car for the type it is. Cerberus has only owned chrysler a year I was hoping to watch the turn around. they have already made improvements to lots of vehicles. I just ordered an 09 Patriot. Chrysler is privately owned and supposedly has 10billion in cash, someone said gm could be bought for 3.8billion....sooooo draw your conculsions. People can bitch an moan about losing car companies but they need to look at the unions they are bleeding them dry now the workers will be out of work.
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