CEThomas Posted October 17, 2008 Share Posted October 17, 2008 Just seen this. I wonder if it could be true??? http://www.reuters.com/article/newsOne/ ... 0220081017 ""Renault on Friday denied it was in talks to buy Jeep from Chrysler. People familiar with the talks said private equity firm Cerberus was in discussions to sell all or part of Chrysler LLC's operations to the French firm and General Motors Corp as it considers a range of deals that could break up the No. 3 U.S. automaker.""" Link to comment Share on other sites More sharing options...
mjdoa Posted October 17, 2008 Share Posted October 17, 2008 I haven't been keeping up on the GM/CHRYS deal too much,I guess since I work for Mopar I should. I heard rumor yesterday that if GM purchases Chrys, they'll stop building everything that gets part of their market share,ie,pickups,and keep building vehicles that don't,ie,minivan. Keep in mind,rumors in this business fly all the time, and usually aren't very reliable.It will be interesting to see what happens,though. BLHTAZ and I could be Chevy parts guys here shortly.Doh. But I did work for a Chev dealer for 14 yrs before coming to Mopar,mch much better parts system. Link to comment Share on other sites More sharing options...
BLHTAZ Posted October 17, 2008 Share Posted October 17, 2008 How the hell would GM "buy" any part of anything when they can't support themselves. I have not really heard anything much about it other than people talking around here about the "GM / Chrysler Merge". I just look at it as another BS rumor :cheers: Link to comment Share on other sites More sharing options...
Eagle Posted October 17, 2008 Share Posted October 17, 2008 The rumour I heard was that Chrysler was going to buy GM. Who knows? Link to comment Share on other sites More sharing options...
CEThomas Posted October 17, 2008 Author Share Posted October 17, 2008 Read the story at the reuters link I posted. Then remember they are talking merger and then look at how much stock Cerberus has in GMAC. The sale of Jeep would give Chrysler a lot of cash to talk merger with GM and Cerberus would be in a win - win :roll: Be interesting to see what the next few months bring 8) Link to comment Share on other sites More sharing options...
mjdoa Posted October 17, 2008 Share Posted October 17, 2008 Very basically Cerberus owns 80% of Chrys and 49% of GMAC. Trying to give GM the 80% of Chrys in return for 51% of GMAC.. Very,very basically. I'm really not keeping up with the situation, there's just too much going on with the economy right now to get a handle,I'm a dummy,and have my own stuff to deal with. Link to comment Share on other sites More sharing options...
CEThomas Posted October 17, 2008 Author Share Posted October 17, 2008 That is what I have seen. More or less a stock trade. That is what Cerberus is good at, making $$ for stock holders :chillin: they could care less if it's making cars or loaning $$ to buy them :nuts: Link to comment Share on other sites More sharing options...
CEThomas Posted October 20, 2008 Author Share Posted October 20, 2008 More talk today :roll: http://www.reuters.com/article/newsOne/ ... 9E20081020 Link to comment Share on other sites More sharing options...
Akula69 Posted October 20, 2008 Share Posted October 20, 2008 Unfortunately, it seems to be a win for GM due to the huge cash reserves that Chrysler has, and a win for Cerbus stockholders, as they would be able to (seemingly) reduce operating costs for both entities. GM has already gone on record they would not keep any Chrysler product line except for the van series, and in CEThomas' article they speak at length about closing dealerships and manufacturing plants. It would almost be like what GM did to Oldsmobile about ten years ago - cut them off at the knees. Of course, Chrysler/Dodge did that to AMC's Comanche a while back as well :roll: Link to comment Share on other sites More sharing options...
CEThomas Posted October 20, 2008 Author Share Posted October 20, 2008 Unless GM would sale off Jeep for cash, not sure I like where this may be going :eek: Link to comment Share on other sites More sharing options...
88XJSport Posted October 20, 2008 Share Posted October 20, 2008 I heard if GM buys Chrysler, they will keep the 'Jeep' name, and keep the minivan, and completely kill off Chrysler/Dodge. Kinda like what Chrysler did to AMC. Kept Jeep, and killed off the other AMC's (Spirit, etc.) Link to comment Share on other sites More sharing options...
BLHTAZ Posted October 20, 2008 Share Posted October 20, 2008 The talk is that they would kill off everything except the 3 plants that have recently had a lot of money spent on them...the Truck plant in Saltillo Mexico and the Jeep & Minivan plants in the US. IF this does happen, it will be a huge legal battle that will likely kill it anyway. It will face reviews that will take up to a year by the Federal Trade Commission and/or the Justice Department. They will also face regulatory issues, lawsuits, congressional hearings and United Auto Workers union protests. It will get REAL expensive... I would be surprised if they could survive this part of the deal financially. What they are doing now means very little compared to the $#!& storm they will face if they actually attempt to do it. Link to comment Share on other sites More sharing options...
aemsee Posted October 20, 2008 Share Posted October 20, 2008 Being another Chrysler employee I listened in on a teleconference that said very little. There would definitly be some hurdles to overcome. Like anti trust laws etc. And the instant unemployment of 100,000 or so people. I could very well be unemployed because of this. GM doesn't believe in live technical training. Link to comment Share on other sites More sharing options...
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