(DETROIT, MI) - More news for Detroit, and from Detroit.
To start, our partners at Fox News reports president George W. Bush wants to have a decision on emergency bridge loan package, or structured bankruptcy, ready for the Detroit automakers, specifically GM and Chrysler, by Christmas Day.
So, Merry Christmas to Rick Wagoner, Bob Nardelli, and everyone that works for them.
However, another report is refuting the information we ran this morning, provided by Fox News and their sister publication, The Wall Street Journal that GM and Chrysler are in merger talks again.
Reuters and CNNMoney.com are both reporting that Chrysler and their owners, Cerberus Capital Management, isn't confirming the report, and GM officials are outright denying it. The Wall Street Journal and Fox News both quoted anonymous sources that say they are familiar with the situation.
However, what is confirmed is Chrysler is shutting down all manufacturing operations for a month, and GM is scaling back by a quarter million vehicles.
However, GM's shutdown doesn't appear to affect the Bedford Powertrain plant.
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