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[email protected]: GM-Chrysler Marriage By December?
October 28, 2008
By: nsap

Lately it seems like we at GMI could write constantly every day just to get every tid bit of news we are hearing from our sources. Between the GM-Chrysler deal to product shake-up's left and right; we're getting a ton of tips. This would not be a day if we did not have SOMETHING new on the GM-Chrysler ordeal, so we have a little something new on the issue.

As reported this morning by other news outlets, GM and Chrysler/Cerberus are seeking government backing and funds in order to aid in the merger. The number that the mainstream media is throwing around is $10 Billion, which jives with what GMI has been told. However, we're told that upwards of $15 Billion in bailout money is on the table. Any government aid would be in addition to the $11 Billion that Chrysler has on hand.

With the U.S. government in full "bailout" mode and reacting unusually fast to such issues, people familiar with the GM-Chrysler talks have told GMI that the deal could be complete by Christmas. That is Christmas of this year, just to clarify :). So it is sounding like Santa may be bringing GM Chrysler this year!

As always, stay tuned. We're sure there will be more to report!
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