Investors are not convinced (the deal) will necessarily go through, or at least as two firms as we know them today with the full (product) line-up.

I'm stunned. I thought they would need to do at least something to appease the Justice Department.

GM is desperate for the cash. They need it to pay out a lot of people, so they're trying to bolster their cash position.

The bonds had a little bit of a run-up over the week, which I thought was probably a little overdone. They're still facing the same problems. In the short term they need to sell a controlling stake in GMAC, get the cash of $10 billion or more, and then resolve the Delphi situation.

With the costs Maytag has, they've just become less and less competitive. This industry is so competitive and having appliances coming from China at a fraction of costs at Maytag and Whirlpool only adds to that.

Investors know that Maytag is going to have to shed some of the businesses in order for the deal to go through.

Maytag produces 99 percent in the U.S., and they are just not price competitive.

What incentive is there for GM dealers to use GMAC going forward if it is not really part of GM?

Whirlpool has moved a lot of operations overseas, and that's helped out with their costs.