GM and Chrysler in Hot Water

Fiat Now in Driver's Seat In Chrysler Acquisition Wall Street Journal — The future of Chrysler LLC seems irretrievably tied to an Italian company boasting its own turnaround success after flirting with disaster earlier in the decade. Fiat has been reborn with a knack for producing cool, small cars; its desire to return to the U.S. market after a 20-year break marks the best, perhaps only, hope for Chrysler. The planned Fiat-Chrysler alliance outlined in January may have been ... click to read complete article

GM chief Wagoner to resign at Obama's request MarketWatch — General Motors Corp. Chairman and Chief Executive Rick Wagoner is resigning from his leadership of the troubled automaker at the request of the Obama administration. Wagoner's departure is part of the restructuring agreement between GM and the U.S. government, which will clear the way for the company to receive further federal loans. click to read complete article

G.M. and Chrysler Explore Merger New York Times — General Motors is in preliminary talks about a possible merger with Chrysler, a deal that could drastically remake the landscape of the auto industry by reducing the Big Three of Detroit automakers to the Big Two. The talks between G.M. and Cerberus Capital Management, the private equity firm that owns Chrysler, began more than a month ago, and the negotiations are not certain to produce a deal. Two people close to the process said the chances of a merger were “50-50” as of Friday and would most likely still take weeks to work out. click to read complete article