Chevrolet Corvette Stingray C7 Forum - View Single Post - GM/Cerberus talks over full ownership of GMAC

camaro5 · 10-12-2008, 10:11 PM

Posted Oct 12th 2008 6:31PM by Jeremy Korzeniewski
Filed under: Chrysler, LLC., GM, Earnings/Financials

It's been a crazy few days as news broke that Chrysler and General Motors have been in talks to combine operations.
It turns out that there's a pretty significant back-story to these proceedings, and it involves Cerberus Capital Management's possible desire to shed its car-building operations and acquire the rest of GMAC, of which it already holds a controlling stake of 51%, with GM holding holding the other 49%.
According to reports, Cerberus would like to combine Chrysler Financial with GMAC, which would allow it to merge the offices of the two financial institutions and reduce costs. All right, that might make some sense, but what about merging the two automakers?
That's the part that seems so confusing to analysts and us meager bloggers. Somehow, we feel certain that there's more to this story, which we'll be hearing about for some time.

Source: The Detroit News via Autoblog

http://www.autoblog.com/2008/10/12/g...rship-of-gmac/

10-12-2008, 10:11 PM	#1
camaro5 Drives: X-15 Velocipede Join Date: Mar 2008 Location: SW Florida Posts: 4,630	GM/Cerberus talks over full ownership of GMAC Posted Oct 12th 2008 6:31PM by Jeremy Korzeniewski Filed under: Chrysler, LLC., GM, Earnings/Financials It's been a crazy few days as news broke that Chrysler and General Motors have been in talks to combine operations. It turns out that there's a pretty significant back-story to these proceedings, and it involves Cerberus Capital Management's possible desire to shed its car-building operations and acquire the rest of GMAC, of which it already holds a controlling stake of 51%, with GM holding holding the other 49%. According to reports, Cerberus would like to combine Chrysler Financial with GMAC, which would allow it to merge the offices of the two financial institutions and reduce costs. All right, that might make some sense, but what about merging the two automakers? That's the part that seems so confusing to analysts and us meager bloggers. Somehow, we feel certain that there's more to this story, which we'll be hearing about for some time. Source: The Detroit News via Autoblog http://www.autoblog.com/2008/10/12/g...rship-of-gmac/ __________________ Go from the presence of a foolish man, when thou perceivest not in him the lips of knowledge General Motors ASEP, A.S. Automotive Technology, Telecommunications Specialist, CISCO Network Engineer STANDARD DISCLAIMER camaro5 is furnishing this information "as is". camaro5 does not provide any warranty of the information whatsoever, whether express, implied, or statutory, including, but not limited to, any warranty of merchantability or fitness for a particular purpose or any warranty that the contents of the information will be error-free.