Chrysler Circling The Drain?

Uh-oh! Big time UH-OH!!!:

Report: GM Turned down by Government

From the NY Times: U.S. Rejects G.M.\’s Call for Help in a Merger

The Treasury Department has turned down a request by General Motors for up to $10 billion to help finance the automaker\’s possible merger with Chrysler … the Bush administration will now shift its focus to speeding up the $25 billion loan program for fuel-efficient vehicles approved by Congress in September and administered by the Energy Department.

Well, that’s essentially that as far as Chyrsler’s future is concerned.

Source: CalculatedRisk

Filed Under: Car News