Gm & Chrysler

GM, CHRYSLER TALK MERGER:General Motors Corp. is in talks with Cerberus Capital Management LP about a possible merger with Chrysler LLC, a person familiar with the matter said late Friday. GM and Cerberus, which owns 80.1 percent of Chrysler, have been in preliminary talks for more than a month. "A lot of things are being discussed in the industry right now," the person said. The talks come amid great turmoil in the auto industry, particularly for Detroit's automakers, which are being further battered by the global financial crisis after coping with slumping sales amid a weak economy and high gas prices that drove buyers away from their profitable pickups and SUVs.

The Detroit News, October 11, 2008