Friday, October 10, 2008

Wow - The End of Chrysler?

G.M. and Chrysler Explore Merger - NYTimes.com:

"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."
Kind of a shocker, isn't it? It is but we saw the same thing happening after World War Two. Packard. Marmon, Hudson?

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