Feinberg: Cerberus sticking with Chrysler

In an interview published in the Financial Times, Cerberus founder and CEO Stephen Feinberg says that, despite restrictions on how much it can invest in them, his company will not give up on Chrysler or GMAC.
“We always try to hang in – but not at the expense of being commercial,” Feinberg said. “As far as [...]

Sources say GM will discuss merger on Friday

According to knowledgeable sources, General Motors is expected to discuss details of its ongoing talks with Chrysler this Friday, the same day it releases its earnings for the third quarter. The report, which will also address liquidity issues, is likely to be grim, showing the nation’s largest automaker is burning through cash at an unsustainable [...]

Renault-Nissan steps into the Chrysler game

Renault and Nissan have, according to Detroit News, offered to buy 20% of Chrysler. Nissan would pay its part with cash on hand while Renault would borrow to pay its share. There are already links between Nissan and Chrysler (with Chrysler to sell Nissan small cars and Nissan to sell Chrysler pickups). According to the [...]

GM, Cerberus want US cash to fund merger

Since General Motors is havng difficulty raising the cash needed for acquisition of Chrysler from Cerberus, Stephen Feinberg, Cerberus’ founder and CEO, is said to have suggested the companies approach the federal government for an investment in the merged automakers.
The deal, which is widely seen by analysts as a potential disaster for both companies, is [...]

Chrysler shows 4 new electric models on CNBC (updated)

Chrysler CEO Bob Nardelli appeared on CNBC’s “Squawk Box” this morning to discuss the state of Chrysler, the auto industry, government funding and to unveil four new Chrysler vehicles.

Nardelli and Lebeau drove the all-electric Dodge EV sports coupe with a lithium-ion battery pack which can hit 60 in under five seconds and has a range [...]