Does 2 + 2 = 3? GM is trying to make a deal out of this. The article suggests that giving Cerberus the remaining GMAC stake in exchange for Chrysler and its cash might be acceptable, probably so. Oddly the article only examines laying off workers. It does not mention what to me is more obvious, a combination of the two companies would consolidate UAW workers in Ford and GM, and that would have a lot of bargaining power with Congress. Michigan is a swing state and this is the chance to put it in the Dem column permanently. And that makes political if not auto sense.
Jerry Flint sees no advantage to such a deal. ANd from the auto standpoint, he is right.
BUt Jerry also allows there are reasons to keep GM going. AS he says, if we are going to spend billions to keep an insurance company like AIG going, why not GM that helped win WW II?
Professor Elam 
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