GM Shoots Down Bankruptcy Rumors, Won't Comment On Chrysler Buyout
(DETROIT, MI) - The end of last week saw clouds hanging over the head of General Motors, however, over the weekend, “The General” has made a couple moves, one expected, the other, not so much.
Saturday morning, General Motors issued a statement saying bankruptcy isn't even being considered at the moment, even though GM's share price fell 31% in Thursday trading. The less-expected moment was when rumors started floating about GM taking over Chrysler.
CNNMoney.com reports there are rumors about Detroit-based GM buying out Lansing-based Chrysler and all of its parts from owner Cerberus Capital, however, neither company will confirm and analysts say GM would need a boatload of cash in order to make the deal.
Right now, however, GM stock is set to open this morning at $4.89, while cross-town rival Ford Motor Company will open at $1.99.
Chrysler does not issue stock since it is privately owned.
Call 812.275.7555 | E-mail tips@wbiw.com | Or send an IM via your AOL, MSN or Yahoo Messenger to wbiwnews
Tune-in
Local News Broadcast Schedule*
| TIME | DURING |
| 6:05am | The Morning Update |
| 6:30am | The Morning Update |
| 7:05am | The Morning Update |
| 7:30am | The Morning Update |
| 8:05am | The Morning Update |
| 8:30am | The Morning Update |
| 9:30am | The Swap Shop |
| 12:00pm | The News At Noon |
| 2:30pm | The Rush Limbaugh Show |
| 5:30pm | The Dr. Laura Program |
*Weekday schedule
