iSPY - GM denied founding for takeover of Chrysler.

GM who had big plans to take over Chrysler, and to take back the crown to be the top seller in the US, now have to scrap these plans, this is due to the US tressure department that dennied the 10 billion US dollars that they asked for to merge with Chrysler.

Reason for denial was that the tressure department fears that there will be alot of jobs will be lost due to the merger, and closing of factorys.

GM is currently at a dept of about 21 billion US dollars, loosing 1 billion a month on the financial chrisis.

Chryslers dept, at 11 billion is also not the best thing.

The only true winner is the japanese, that keeps selling fuel efficient cars at higher rate every day.

Source:
www.thetorquereport.com...