GM (GM) shares are up 9% on rumors that all major issues needed to set up a merger with Chrysler have been worked out with Cerberus which owns a majority of the smaller car company.
Many analysts think the marriage will result in the loss of 35,000 jobs.
The merger cannot be done without support from the federal government. GM does not have the capital to pay severance and other cash costs needed for an integration.
So, the Federal Reserve may lend GM $10 billion to put a huge number of taxpayers out on the streets.
Douglas A. McIntyre
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply
clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
