Cerberus cut off investment on Chrysler's vehicle development beyond 2010

Jim Press says, "We Will Be Here" and Bob Nardelli Say's the Merger reports are rumors!
Sell, Sell, Sell!

FROM BAD TO WORSE

One reason for Cerberus to press for a quick deal is that the private equity firm has effectively cut off investment on Chrysler's vehicle development beyond 2010, analysts said.

"Time will not be their friend," said Kimberly Rodriguez, a principal at Grant Thornton LLP, an advisory firm with a specialty in automotive restructuring.

Rodriguez estimated that 30,000 to 40,000 jobs could be lost if GM absorbs Chrysler and the smaller carmaker's supplier base would be decimated. "This is not a hit most could take," she said.

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