Job losses likely in a GM-Chrysler merger

DETROIT, Oct. 12 (UPI) -- Detroit could suffer another significant blow if the merger of Chrysler and General Motors becomes a reality, sources told the Detroit Free Press. The newspaper reported Sunday that sources familiar with the discussions predict major job cuts at Detroit-area plants as duplicated operations are eliminated should the deal materialize. GM has launched talks with Cerberus Capital Management, the private equity firm that owns Chrysler and a major stake in GM's finance corporation, GMAC, about a deal that would conceivably turn the auto industry's Big... [read full story]