Chrysler CEO Nardelli responds to GM announcing merger talks are off

[jamz]

Filed under: Chrysler, LLC., GM, Earnings/Financials
Chrysler LLC just released a statement from Bob Nardelli in which the CEO responds, in a way, to General Motors' third quarter earnings report. In the report, GM acknowledged that it had "recently explored the possibility of a strategic acquisition". While not citing Chrysler by name, we all know the strategic acquisition in question is the Auburn Hills-based automaker currently owned by private equity group Cerberus Capital Management. Nardelli responds by comically not confirming that his company was GM's target, reiterating for the umpteenth time that Chrysler doesn't talk about its business dealings with other companies because they often lead nowhere, like in this case we suppose. Of course, though his response confirms nothing, its mere existence confirms everything. All Nardelli does say is that Chrysler will continue to explore "multiple strategic alliances" that will aid its own turnaround effort. Carlos Ghosn, the prominent figurehead of Nissan/Renault whose companies were also on the short list of merger partners for Chrysler, should check his voicemail right about now.

Check out Nardelli's statement in his own words after the jump.

[Source: Chrysler, LLC]Continue reading Chrysler CEO Nardelli responds to GM announcing merger talks are off
Chrysler CEO Nardelli responds to GM announcing merger talks are off originally appeared on Autoblog on Fri, 07 Nov 2008 15:28:00 EST. Please see our terms for use of feeds.


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