General Motors and Cerberus Capital Management have asked the U.S. government for roughly $10 billion in an unprecedented rescue package to support a merger between GM and Chrysler, two sources with direct knowledge of the talks said on Monday.
Neither GM or Chrysler can sell their cars, so they thought it would be a great idea to create one company that can't sell their cars.
As far as capitalism goes this is pretty much the death of that particular theology.
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Wednesday, October 29, 2008
Two companies that can't sell their cars asks US taxpayers for $10 billion to merge into an even bigger company that can't sell cars.
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