Update: GM backs out

Though we were asked not to blog about GM anymore, I thought of giving a little update on the situation of the merger between Chrysler and GM.

Much as Chrysler needs a saviour, few are disappointed that the Detroit carmaker’s rescuer will not be General Motors.
A takeover by GM “would have meant huge job losses for the workers and dealer closures”, said Andy Palmen, a Chrysler dealer in Kenosha, Wisconsin, expressing relief at GM’s decision to walk away from talks to acquire its smaller rival.
url:http://www.ft.com/cms/s/0/bb482cfc-ae81-11dd-b621-000077b07658.html