Chrysler no longer in talks with Renault-Nissan: WSJChrysler is no longer in talks with Renault-Nissan, leaving General Motors the apparent lead candidate to acquire the US automaker, The Wall Street Journal said in its online edition Sunday. "Cerberus Capital Management LP, the private equity fund that owns an 80.1 percent stake in Chrysler, ended the discussions in favor of concentrating on GM," the business daily said citing an unnamed person familiar with the private discussions. A potential partnership with the Renault-Nissan automaker group appeared a possibility last month after reports Cerberus was looking to divest To deprive or take away. Divest is usually used in reference to the relinquishment of authority, power, property, or title. If, for example, an individual is disinherited, he or she is divested of the right to inherit money. itself of the third largest US-based carmaker amid a continued slowdown For articles with similar titles, see Slow Down (disambiguation). A slowdown is an industrial action in which employees perform their duties but seek to reduce productivity or efficiency in their performance of these duties. in the global automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. . Last week Renault-Nissan CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Carlos Gohsn shrugged off the idea of talks with Chrysler as speculation. Renault-Nissan may have been interested in Chrysler to move quickly into the US market, the Journal said. "Speculation continues to swirl that Cerberus is looking to make a move on Chrysler as early as Tuesday but has run into problems in lobbying for federal aid. The Bush administration has reportedly backed away from giving the aid despite an intensifying in·ten·si·fy v. in·ten·si·fied, in·ten·si·fy·ing, in·ten·si·fies v.tr. 1. To make intense or more intense: push from senators and congressional leaders who are concerned that Chrysler may simply fall into bankruptcy without a new partner," the Journal added. Much of the pressure to cut a deal seems to be coming from banks which stand to lose billions should Cerberus fail to meet its obligations. J.P. Morgan and Citibank were part of a consortium which advanced Cerberus more than seven billion dollars to purchase Chrysler from Daimler AG Daimler AG German automotive manufacturer. Its roots are in the auto companies founded by Gottlieb Daimler and Karl Benz, which merged in 1926. The Mercedes-Benz luxury car, first produced by Daimler in 1901, is the basis of the company's financial success. in August 2007, just before financial markets started to sputter from the first tremors of the housing and credit crisis and demand for automobiles fell sharply. Additionally, pressure comes from GM's financial arm, GMAC GMAC General Motors Acceptance Corporation GMAC Graduate Management Admission Council GMAC Give Me A Call GMAC Genetic Manipulation Advisory Committee GMAC Genetic Modification Advisory Committee (Singapore) GMAC Give Me A Chance , which will have to raise an additional one billion dollars to cover bonds that will mature in January. Cerberus owns a controlling stake in GMAC. Several analysts and executives from other automakers have expressed skepticism about whether a GM-Chrysler merger would deliver any kind of benefits. 
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