CHRYSLER ON THE BRINK: WILL OBAMA MAKE A DEAL WITH CERBERUS?

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Remember that $11 billion in cash that General Motors was coveting through a possible "Hail Mary" with Chrysler, L.L.C.?

Not so fast . . . .

It turns out that (according to unnamed sources who aren't supposed to be blabbing to the press) that:

"The $11.7 billion the struggling automaker said it had as of end-June has seen a substantial decline because of the company's deteriorating performance marked by a 35 percent slide in October sales and increasing cash incentives . . . ."

Perhaps that minor little detail has stalled the "trick or treat" merger with GM. Too many tricks. Not enough treats.

These same "unnamed sources" are claiming that without a merger or government help, Chrysler will run out of money by the middle of 2009!

Short term survival strategies involve "parting out" Chrysler's brands and outsourcing more operations.

However, like the rest of the Detroit 3, a cash injection from the "OBAMAcrats" is at the top of the survivor wish list.

Chrysler, privately owned by Cerberus Capital Management, LP, is arguably in a weaker position to demand public largesse than publically-held GM and Ford Motor Company.

Yet the three-headed venture capital hound guarding the gates of Hades will have to "cut a deal" to keep Chrysler from slipping into the fiery abyss.

The irony is that Cerberus Capital Management, LP counts among its top executives one Dan Quayle. Quayle, the oft-lampooned Vice President under George H.W. Bush (Bush 41), is hardly a beloved figure among Obama's "netroots" supporters. Speedzzter wonders how the hard-core OBAMAmaniacs would react to a bailout deal between "The One" and Murphy Brown's chief critic . . . .

Will the OBAMAistas put preservation of union jobs over political retaliation? Only time will tell.