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By Laurie Bennett - October 11, 2008

General Motors is weighing a merger with Chrysler, The New York Times reports.

GM officials are talking with Cerberus Capital Management, the private equity firm that last year purchased an 80 percent stake in Chrysler from German auto company Daimler AG.

Discussions began more than a month ago, according to the Times.

Both automakers have been beset by hard times. Auto sales in the U.S. have fallen to their lowest point since 1991.

Bloomberg notes today that GM hasn’t been profitable since 2004 and Chrysler has said it won’t make money this year. GM’s stock has dropped from $43 per share last year, to less than $5 at Friday’s close.

A GM spokesman said yesterday that bankruptcy is not an option.

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Shades of 1929 for Chesapeake’s Aubrey McClendon
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Risk-taking caught up to Aubrey McClendon, the outspoken energy company CEO who helped fund the Swift Boat attacks against John Kerry four years ago and has been busy touting the benefits of compressed natural gas in TV ads this election cycle.

Accused businessman Tom Petters gave piles of cash to nonprofits, politicians
October 11, 2008 at 11:06am

Thomas J. Petters gave hundreds of thousands of dollars to political candidates, Democrats and Republicans alike. And he has given millions to institutions of higher education.

GM discussing merger with Chrysler, Times reports
October 11, 2008 at 10:31am

General Motors is weighing a merger with Chrysler, The New York Times reports.

Sumner Redstone to sell $400 million stake in CBS and Viacom
October 11, 2008 at 9:03am

In what looks like a margin call of massive proportions, billionaire media tycoon Sumner Redstone is being forced to unload $400 million worth of nonvoting shares in CBS and Viacom.

Real estate


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Robert M. Sandler retired as an executive vice president from American International Group in April – less than six months before the insurance giant was rescued from the brink of collapse by an $85-billion federal bailout. Earlier this week, Sandler and his wife, Annette, paid $3.45 million in cash for a three-bedroom coop at 150 Central Park South.

Video

Homer Simpson: another frustrated voter

Homer Simpson’s choice for the next president of the United States has leaked to the internet.

According to a clip from an upcoming episode of Fox’s long-running cartoon, The Simpsons, Homer’s endorsement is for Barack Obama.


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