Cerberus Capital Management LP, wading into the politics of a U.S. auto-industry bailout, would give up any profit on a future sale of Chrysler LLC should the company receive federal financial aid. Chrysler also expects the U.S. government to take a stake in the company in any rescue, CEO Bob Nardelli said yesterday. Federal backing [...]

So it would seem that Cerberus has no intention of not selling most of their stake in chrysler.  If Nissan had some to the table with more than 20% in their offer Cerberus probably would have taken more time to consider that deal.  For now we’ll have to settle for Chrysler making Nissan’s Titan and [...]

According to a Wall Street Journal report, talks between General Motors and Cerberus/Chrysler are “floundering” as GM is having a tough time finding investors who would be willing to finance any deal between the two US automakers. General Motors and Chrysler have been suggesting a plan that would save $10 billion while at the same [...]

“Don’t say bailout proposals,” General Motors Corp. Vice Chairman Bob Lutz said on the sidelines of a media event for the company’s 2009 models. “All the government is doing is underwriting the loan.” Detroit’s three automakers and their suppliers have been lobbying Congress in recent weeks to fund some of the loans before it adjourns [...]