No GM/Chrysler Deal

by Chris Sturr | November 07, 2008

After losing a staggering $4.2 billion in the 3rd quarter, GM has been forced to call off talks about it buying fellow beleaguered car maker Chrysler.

Cerberus Capital Management, the private company that owns Chrysler, is still on the hunt for some kind of public or private lifeline.

In a side note (in case you missed it here),

Cerberus is chaired by former Bush administration Treasury Secretary John Snow and its board includes Dan Quayle, who was vice president under former president George H.W. Bush.

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