Michigan worried about possible job losses. U.S. and Canadian union leaders against a merger. This has an interesting graph of auto-industry job losses since 2000. I'd be even more interested in seeing a graph for, say, the last 50 years.
GM may be unable to get financing to swing the merger. This is since the paper was printed last night. I'm not an online subscriber, so I was only able to read the first two or three sentences of the article.
Supposedly GM does not want to give up it's half of GMAC to Cerebus.
So how lucrative is GMAC, given that you can't lease a car any more, and there are plenty of no-interest-for-5-years deals floating around. How much money is there in car financing these days?
Does GMAC finance anything besides GM products?
And still nobody here can explain the logic behind raising / borrowing money to buy a company with money in the bank.
If GM tells Cerebus to pull it's $11 billion out of Chrysler's bank account, doesn't that mean GM would need $11 billion *less* to buy Chrysler? Wouldn't that be an easier deal to swing?
Actually they're one of the biggest financers of ... mortgages!
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