The Real Reason GM and Chrysler Want To Merge: CFO.com spells it out. It’s money. “In August Cerberus claimed that Chrysler still had $11 billion in cash from loans raised earlier. There is speculation that it might be willing to throw that in, and add some more, in exchange for a stake in the merged entity.”
Hard To Believe: Rupert Murdoch did not know there was more to Dow Jones than The Wall Street Journal when he went to buy it. Felix Salmon quotes Michael Wolff at a media conference saying:
I don’t believe he had any idea there was an enterprise side of the business. I believe I was the one to explain Factiva to him. He wanted the newspaper. The fact that after he bought the newspaper he found himself with these rather successful businesses was I think surprising to him. I think he was pleased.
Boo: Wall Street Crisis-themed Halloween Costumes.
Meanwhile: In other Halloween costume news, The Leveraged Sell-Out is reporting that Dick Fuld will be this year’s #1 costume.
List Time: 17 Signs you might be laid off. These are truly no-brainers, except perhaps number 13, “noticing unfamiliar security guards around the building.”
Banker Of The Year: Jamie Dimon or Kenneth Lewis? Dealbook has the who and why.