Thankfully no federal money for GM Chrysler merger

DETROIT: The U.S. Treasury Department has turned down a request by General Motors for as much as $10 billion to help finance the automaker's possible merger with Chrysler, according to people close to the discussions.

Instead of providing new assistance, the Treasury Department told GM on Friday, the administration of President George W. Bush would shift its focus to speeding up the $25 billion loan program for fuel-efficient vehicles that is administered by the Energy Department.

Treasury officials were said to be reluctant to broaden the $700 billion financial rescue program to include industrial companies or to play a part in a GM-Chrysler merger that could cost tens of thousands of jobs.


http://www.iht.com/articles/2008/11/03/business/gm.php

The can lay off workers without tax money. They've been doing it for years.

They've tried everything but building a good car.