Sunday, May 3, 2009

"Prophetic: General Motors scales back in order to avoid possible bankruptcy in 2009. Chrysler considering off shore sale. Three becomes one after [X]. Ford shares of stock fall to a record low."

-A.C.H. in his posting 'In Todays News' on Dec.18, 2008

'Three becomes one after [X].'

And from the news today:

Fiat to form new company with GM Europe, Chrysler

ROME – Fiat Group SpA confirmed Sunday it was in talks to acquire General Motor's European operations with the aim of possibly creating a new company to also include its newly acquired Chrysler automaker.
Combined, the new automaker would have euro80 billion ($105 billion) in annual revenues, Fiat said in a statement.
Fiat said it was evaluating the possible spinoff of its auto business to form the core of the new company. Fiat Group Automobiles includes the Fiat, Alfa Romeo and Ferrari brands.
The statement was issued on the eve of a meeting in Berlin between Fiat Group CEO Sergio Marchionne and the German economy and foreign ministers to discuss Fiat's offer for GM's German unit, Opel.
GM Europe also includes the British company Vauxhall and the Swedish carmaker Saab.
GM has been trying to find investors for its noncore and unprofitable assets as part of a restructuring in which it has sought billions of dollars in aid from the U.S. government to avert collapse.

(to read the rest of this story go here)