For Additional Headlines - go to our News Section »

• Panama City Beach Pier Opens
  made by deckboy
• Panama City Beach Pier Opens
  made by Ricky
• Near Drowning at Beach Pool
  made by Jamison
• Airport Looks to Future Development
  made by wcrider153
• Panama City Beach Pier Opens
  made by retired one
• Panama City Beach Pier Opens
  made by retired one
• Energy Bill Could Raise Power Rates
  made by wcrider153
• Energy Bill Could Raise Power Rates
  made by jday1999
• Grilling with Greg & Wayne
  made by redrusty
• Grilling with Greg & Wayne
  made by Mischief

• Near Drowning at Beach Pool
• Fourth of July Events
• Man Involved with Panama City Rescue Mission Found Murdered
• Residents and Officials Upset by Possible Parker Post Office Closure
• UPDATE: Victim’s Name Released in Bay County Hit and Run
• UPDATE: Nine Arrested in Multi-agency Operation
• Cigarette Tax Goes Into Effect Wednesday
• Panama City Christian Closing Its Doors
• Congressman Boyd Faces Protesters
• Registered Sex Offender arrested for Lewd and Lascivious Molestation of Child Under Age of 16

Possible Merger Between GM and Chrysler
10/11/08 - 04:05 PM

Associated Press

 RSS Feed

DETROIT (AP) - Detroit’s Big 3 could become Detroit’s Big 2.

General Motors and Chrysler have reportedly held talks about a possible merger or other acquisition. A person familiar with the talks says they involve Cerberus Capital Management, which owns 80 percent of Chrysler and also has a joint venture with GM.

Besides merger negotiations, The Wall Street Journal reports that Cerberus is proposing trading Chrysler’s automotive operations to GM in exchange for GM’s remaining 49 percent stake in GMAC Financial Services. Cerberus already owns the other 51 percent.

The Journal says the talks, which began more than a month ago, have stalled because of the turmoil in financial markets. The New York Times says its sources say chances of a merger are “50-50.”