Cerberus rejects Nissan's offer to add Chrysler to the alliance

[Toyota.vs.GM]

Chrysler-Nissan talks halt

No more discussions scheduled after Cerberus acknowledges preference for

a sale of Chrysler to

GM deal ,sources say.

Talks between the Renault-Nissan alliance and Cerberus Capital Management LP have stopped as both sides acknowledged Cerberus's preference to conclude a deal for Chrysler LLC with General Motors Corporation; according to sources familiar with the situation.

No more talks between Cerberus and Renault-Nissan negotiators have been scheduled, the sources said Friday , although the parties have not been ruled out discussions in the future

Cerberus and Nissan declined to comment. But sources close to Cerberus have said the private-equity firm favors a GM-Chrysler deal ,viewing it as financially more advantageuos and also better for the U.S auto industry.

Full Article Here.

Edited November 1, 2008 by Toyota.vs.GM

[thegriffon]

Morones

[CMG]

Morones

You think they are a fish?

[Toyota.vs.GM]

This would be the 2nd time Ghosn has been denied an American Automaker , both times one Corporation stopped Ghosn , that Corporation is: .

Edited November 1, 2008 by Toyota.vs.GM

[longtooth]

Two Jedi Knights have been dispatched to address the 'concerns' Mr. Ghosn has with the Alliance. He'll prove no match for the Jedi.

Mark this well.

(exit to the strains of "The Imperial March" a.k.a 'Darth Vader's theme')

[Toyota.vs.GM]

Two Jedi Knights have been dispatched to address the 'concerns' Mr. Ghosn has with the Alliance. He'll prove no match for the Jedi.

Mark this well.

(exit to the strains of "The Imperial March" a.k.a 'Darth Vader's theme')

Will Bill Ford say yes to Ghosn .

Edited November 2, 2008 by Toyota.vs.GM

[longtooth]

Will Bill Ford say yes to Ghosn .

Don't know. Ford's more insular than GM.

[Toyota.vs.GM]

Don't know. Ford's more insular than GM.

Maybe GM can rape Ford , by buying Ford, making the Big Three into the Big .

Edited November 2, 2008 by Toyota.vs.GM

[mustang84]

Maybe GM can rape Ford , by buying Ford, making the Big Three into the Big .

Won't happen in a million years.

I hope this GM merger falls through. GM needs to work out its problems on its own. Pillaging Chrysler for liquidity to buy them time is irresponsible and won't do anything but delay the losses for a little bit longer. Ford took a totally different path than GM that earned them plenty of criticism the last couple years; modest product updates and delaying launches until a global rollout was ready. Now we're starting to see the benefits; Ford has more cash on hand and narrower losses, enough to float them until 2010. They are on the verge of releasing the new global models, a new 38 mpg Fusion, and they have a modestly updated F-150 out that is apparently selling fairly briskly.

I don't think GM spent nearly as much time streamlining operations and cleaning house as Ford has, and adding Chrysler to the mess will just delay the inevitable. Unfortunately, it's gotten to the point where GM is in such dire straights that they are doing anything to survive, even if it means 75,000 jobs at Chrysler go away. I hope the loans can float GM until the economy improves, but I'm really losing faith in GM's leadership.

My ideal buyer for Chrysler is Hyundai. I don't really care for Hyundai, but I'd rather have them do it than GM. Hyundai would make greater inroads to the US market with an expanded dealership network and could build up Chrysler as a credible luxury brand (I don't see Hyundai ever moving out of the near-lux category). Hyundai could use a competitive truck and would probably keep the Dodge brand around as a truck/SUV brand (and maybe a specialty car or two like the Challenger). Jeep would also be an asset for them.

[Chicagoland]

GM justs wants to get Chrysler's piggy bank of $11 M. Then they will shut down the excess.