Gm & Chrysler

Monday, October 20, 2008
LATE & BREAKING NEWS
GM-CHRYSLER TALKS ADVANCE:Cerberus Capital Management LP founder Stephen Feinberg, a driving force behind the negotiations to combine General Motors Corp. and Chrysler LLC, is pushing for a rapid deal before both automakers are weakened further in this treacherous environment, say sources familiar with the situation. GM President Frederick Henderson and Vice Chairman Bob Lutz also want to conclude an agreement quickly, the sources said. Chairman and CEO Rick Wagoner is said to subscribe to the logic of such a deal but seems more guarded about the prospect of putting together two money-losing automakers facing similar challenges, the sources said. Some GM directors share those concerns.

The Detroit News, October 18, 2008