Stop me if you've heard this nightmare before. Chrysler "merges" with another automaker. Terms like "marriage of equals" get thrown around like nickles and manhole covers. And then five years later, Chrysler is on the verge of extinction. "Cerberus," anyone? Let's not forget Daimler.

Here's the deal. The two automakers will combine to form the fourth biggest automotive manufacturer in the world. Think, the size of Honda. The French government earlier this year put the kibosh on a possible deal between Renault, but it has a stake in Peugeot, so that aspect is interesting.

The reason is scale, and the changes in the industry, shifting to electrification and driverless technology.

But if you've live in Michigan any length of time, you remember previous marriage and mergers involving Chrysler Motors; swallowing up American Motors, the Mercedes deal, and the investors from Cerberus.

A Fox News story says Chrysler gives the new company a major foothold in the North American market, with Jeep and Ram Trucks. Peugeot is the second largest automaker in Europe and this deal should make them a major competitor to Volkswagen. And there's also the Chinese market which is huge and a Chinese stakeholder will remain onboard for at least seven years.