Chrysler, Ford idle factories, GM delays new plant
9:34 AM Thu, Dec 18, 2008 | Permalink
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DETROIT -- Chrysler is closing all its North American manufacturing plants for at least a month, the starkest move yet taken by U.S. automakers as they anxiously await word about government loans, according to The Associated Press. The shutdown comes as General Motors Corp. said a report that it and Chrysler have restarted talks to combine the two ailing automakers is untrue. The Wall Street Journal, citing people familiar with the discussions, said Thursday that talks about a combination have been rekindled after Cerberus Capital Management LP, the majority owner of Chrysler LLC, signaled it is willing to part with some of its stake in the automaker. GM spokesman Tony Cervone said Thursday the auto maker's stance on the merger talks has not changed since it suspended them when it announced third-quarter earnings in November. GM and Chrysler had been in talks earlier this year to combine, but financing emerged as one of the biggest obstacles. 
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