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The government funding would include roughly $3 billion in exchange for preferred stock in a merged automaker, according to one of the sources, who was not authorized to discuss the matter publicly.
Originally posted by GoalPoster
So, how does it feel as a taxpayer to have the potential to be a part owner of a GM/Chrysler shotgun wedding?
Originally posted by DocMoreau
Did this thread die out because the merger died?
Or is the merger still on, but waiting for some cash/credit to make the deal?
I am confused.
Originally posted by Rockpuck
reply to post by leo123
200k + .. GM says only 90k will loose their jobs, but in fact the hit will go so far into the auto industry and suppliers that easily 200k+ could be without work.. not to mention the many brands that are supposed to be eliminated will add to the amount of people without work..
I suppose if both fail it would also put many more out of work.. meh..
Chrysler is privately owned, and I am not sure who's going to buy who or if it will be a merger..
I am glad the US decided, at this point, not to fund it.
I know I will never buy a car from an "American" auto company..
By Japanese or Korean, they continue to build plants in America, while American auto makers make plants in Mexico.
Originally posted by anonymousATS
It feels seriously bad.
Public ownership of automakers with exceptionally poor leadership, poor products and lousy MPG? The treasury should pass on this "deal"