GM/Chrysler merger to be announced next week...

I wouldn't post this on here if I didn't trust this person...

Anyway, a friend of mine in the auto industry says the merger between Chrysler and GM has been finalized and will be announced next week (probably at 10 p.m. Tuesday night just to fuck with copy editors across America).


Most updated article says a merger could cost 35,000 jobs right off the top. That's not including all the lost jobs from third party suppliers and other jobs around the state that revolve around the industry. This could be very bad.


http://www.freep.com/article/20081031/OPINION01/810310334

 

The third party job cuts have already started. Arvin Meritor, an auto parts supplier based in Troy, Mich., is cutting 1,250 jobs. 450 salaried and 800 hourly.

 

when does this move from a recession to something much worse?

 

Oh, it's on track . . .

 

When the Michigan land literally sinks into the Great Lakes.

 

My father, who runs a large Dodge dealership, said earlier this week the merger would happen.

He thinks you'll see a lot of consolidation of dealerships as well. And that means more layoffs as the employees of the Chrysler dealerships lose jobs when the brands are being parked at the GM dealerships.

 

[blue]So does that mean I have to start paying my car payment to GM now? I'm so confused[/blue]

 

Wonder what happens to the nameplates? Oldsmobile and Plymouth have shuffled off the mortal coil already. Maybe Chrysler bites it, and all the non-Jeep models that survive are sold under the Dodge banner?

 

Don't be surprised if Jeep is the only nameplate that makes the cut. If this even happens, of course.

 

They'll keep Jeep and Dodge. And Mopar. They'd be foolish to ditch Mopar.

 

Dodge wouldn't really fit; it duplicates a lot of what GM already has. Not really sure how Mopar would fit, either.

 

Doesn't look like it's happening:

http://blogs.motortrend.com/6335091/corporate/surprised-treasury-doesnt-want-to-lend-gm-10-billion-to-buy-chrysler/index.html

http://dealbook.blogs.nytimes.com/2008/10/31/automakers-merger-talks-said-on-hold-as-aid-hopes-fade/?scp=3&sq=chrysler%20gm&st=cse

The Motor Trend piece makes some interesting points, that make a lot of sense.