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Thread: Treasury working on aid for GM, Chrysler merger a positive for Sirius

  1. #1
    sxminvestor is offline

    Treasury working on aid for GM, Chrysler merger a positive for Sirius

    Reuters
    Treasury working on aid for GM, Chrysler merger
    Monday October 27, 2:16 pm ET


    WASHINGTON (Reuters) - The U.S. Treasury Department is considering how to best provide financial assistance to facilitate a possible merger between General Motors Corp (NYSE:GM - News) and Chrysler LLC, a source familiar with the government's thinking told Reuters on Monday.


    The Treasury Department is considering aid of at least $5 billion, which could include direct capital injections and government purchases of auto loans, the source said, speaking on condition of anonymity. A decision on the government aid could come as early as this week, the source said.

    GM has been lobbying the Bush administration for substantial help as it seeks to merge with Chrysler, which is owned by Cerberus Capital Management (CBS.UL). Federal aid is considered a requirement for completing the deal, people familiar with the talks have said.

    (Reporting by Karey Wutkowski, with additional reporting by John Crawley, Rachelle Younglai


    *** better than the threat of bankruptcy for GM and/or Chrysler even though they would be downsizing. My opinion.

  2. #2
    spanyo is offline
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    spanyo's Avatar
    Joined: Jul 2008 Posts: 135
    I wonder if SIRI could renegotiate the bad XM-GM deal after the merger.

  3. #3
    sxminvestor is offline
    Quote Originally Posted by spanyo View Post
    I wonder if SIRI could renegotiate the bad XM-GM deal after the merger.

    Good point, it's an opportunity to talk about things for sure. Although volume will decrease, they may be able to get higher penetration and better terms.

  4. Ad Fairy Senior Member

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