GM cuts off talks with Chrysler
Registered User
Joined: Sep 2002
Posts: 9,705
From: Oakland, California
http://www.bloomberg.com/apps/news?p...riA&refer=news
GM Says It May Run Out of Operating Cash This Year (Update1)
By Jeff Green and Mike Ramsey
Nov. 7 (Bloomberg) -- General Motors Corp., seeking federal aid to avoid collapse, said it may not have enough cash to keep operating this year and will fall ``significantly short'' of the amount needed by the end of June unless the auto market improves or it raises more capital.
The largest U.S. automaker reported a $4.2 billion third- quarter operating loss and said its available cash fell to $16.2 billion on Sept. 30 from $21 billion at the end of June. Merger talks with Chrysler LLC were suspended.
By Jeff Green and Mike Ramsey
Nov. 7 (Bloomberg) -- General Motors Corp., seeking federal aid to avoid collapse, said it may not have enough cash to keep operating this year and will fall ``significantly short'' of the amount needed by the end of June unless the auto market improves or it raises more capital.
The largest U.S. automaker reported a $4.2 billion third- quarter operating loss and said its available cash fell to $16.2 billion on Sept. 30 from $21 billion at the end of June. Merger talks with Chrysler LLC were suspended.
Registered User
Joined: Nov 2000
Posts: 16,176
From: Chicagoland IL
Just me, but I think this is the first bit of good news all day.
Good because...
1) Maybe, just maybe, Chrysler has a slim chance of survival, (for a short time), if Cerberus resigns itself to the fact that it must actually try to make this company work.
2) Maybe a humbled Cerberus will be more open minded about Carlos Ghosn's offer - and maybe if Cerberus takes him more seriously, he'll sweeten the deal.
3) GM doesn't have the time nor energy to be dealing with this kind of "merger" right now - or really at any time. It needs to concentrate on it's own business and make the tough decisions required to restructure. Of course, you need strong leadership for that.
4) GM won't be the ones dismantling and closing down Chrysler. That part was giving me a sick feeling ever since word of this leaked out.
Good because...
1) Maybe, just maybe, Chrysler has a slim chance of survival, (for a short time), if Cerberus resigns itself to the fact that it must actually try to make this company work.
2) Maybe a humbled Cerberus will be more open minded about Carlos Ghosn's offer - and maybe if Cerberus takes him more seriously, he'll sweeten the deal.
3) GM doesn't have the time nor energy to be dealing with this kind of "merger" right now - or really at any time. It needs to concentrate on it's own business and make the tough decisions required to restructure. Of course, you need strong leadership for that.
4) GM won't be the ones dismantling and closing down Chrysler. That part was giving me a sick feeling ever since word of this leaked out.
Registered User
Joined: Jan 2003
Posts: 445
From: Livonia, MI
Hyundai, I think, may have a bright future. This has nothing to do with whether or not they buy Jeep. They just seem to have put out some quality products lately. If (God forbid) GM and/or Chrysler and/or Ford fail, they'll be well positioned to pick up some new market share.
Hopefully it doesn't come to that and the Big 3 survive and become successful again.
Hopefully it doesn't come to that and the Big 3 survive and become successful again.
Registered User
Joined: Mar 2001
Posts: 13,713
From: The Golden State
Just me, but I think this is the first bit of good news all day.
Good because...
1) Maybe, just maybe, Chrysler has a slim chance of survival, (for a short time), if Cerberus resigns itself to the fact that it must actually try to make this company work.
2) Maybe a humbled Cerberus will be more open minded about Carlos Ghosn's offer - and maybe if Cerberus takes him more seriously, he'll sweeten the deal.
3) GM doesn't have the time nor energy to be dealing with this kind of "merger" right now - or really at any time. It needs to concentrate on it's own business and make the tough decisions required to restructure. Of course, you need strong leadership for that.
4) GM won't be the ones dismantling and closing down Chrysler. That part was giving me a sick feeling ever since word of this leaked out.
Good because...
1) Maybe, just maybe, Chrysler has a slim chance of survival, (for a short time), if Cerberus resigns itself to the fact that it must actually try to make this company work.
2) Maybe a humbled Cerberus will be more open minded about Carlos Ghosn's offer - and maybe if Cerberus takes him more seriously, he'll sweeten the deal.
3) GM doesn't have the time nor energy to be dealing with this kind of "merger" right now - or really at any time. It needs to concentrate on it's own business and make the tough decisions required to restructure. Of course, you need strong leadership for that.
4) GM won't be the ones dismantling and closing down Chrysler. That part was giving me a sick feeling ever since word of this leaked out.
Thread
Thread Starter
Forum
Replies
Last Post
mark0006
2010 - 2015 Camaro News, Sightings, Pictures, and Multimedia
0
Sep 14, 2015 12:35 PM