Senate: Chrysler Should Merge With GM
As the Big Three sit (again) before The United States Senate to beg ask for a much larger “bailout” than before, their CEO’s tails must be tucked between respective legs. Representatives believe the best way for Chrysler to crawl out of this financial mess is to merge with General Motors, thus helping (hopefully) both auto makers survive.
It’s a consideration both sides are thinking about, since the Senate likes the idea of giving a fixed sum to one entity instead of two separately. Senator Bob Corker was quoted as saying “Our country cannot really deal with three separate US automakers.” A merger could save up to $10 Billion a year in financial loans. Chrysler better not think too hard – Wall Street Journal recently reported that Chrysler hired Jones Day bankruptcy firm for a consultation. Tough times still to come.
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