GM, Chrysler Merger on Hold After Treasury Says No to Aid

[Soup]

Auto Loan Daily - GM, Chrysler Merger on Hold After Treasury Says No to Aid

The much-talked-about GM and Chrysler merger is expected to be on hold until after next week's presidential election because the U.S. Treasury Department said it will not provide the automakers with aid, the Detroit Free Press reports.
GM was lobbying Congress for a loan of about $10 billion to help fund a merger with the automaker and Chrysler, among other financial woes

[bmxer99]

****in..sucks..

[Soup]

maybe, but Chrysler has no cars worth having for GM, so the company was just going to be gutted for its cash and GM would be left with all the debt and UAW pensions to pay for.

[mattlikespeople]

hate that our stupid government is just handing out money to companies who realize they cant keep being foolish with thier money. Sad this didnt happen just for the possibilities but glad GM didn't get the gov't handout