Chrysler, GM revive merger talks

Business: Unless they both undergo drastic changes, its just two vorte of suck combining into one big vortex of suck.

General Motors and Chrysler have reopened merger talks, with Chrysler's private owners signaling a willingness to give away part of its stake in the automaker, The Wall Street Journal reported Thursday, citing people familiar with the discussions. With cash running low at both companies, Chrysler majority owner Cerberus Capital Management took the initiative to restart discussions that sputtered just weeks ago, the paper said. The renewal of the talks could be a way for Cerberus to show Washington, which is weighing a $14 billion rescue package for the auto industry, that it wants to cooperate in restructuring the industry, the paper said, citing people familiar with the buyout firm’s thinking. An auto-industry bailout was rejected by the Senate last week, and now the Bush administration has suggested it will extend a helping hand to prevent the industry from collapsing.