Sorry to the mods who may have to move this, I just thought this would be of general interest for a day or two. http://www.msnbc.msn.com/id/18645179/ FRANKFURT, Germany - German-based DaimlerChrysler said Monday it will sell almost all of money-losing Chrysler to a private equity firm for $7.4 billion, backing out of a troubled 1998 takeover aimed at creating a global automotive powerhouse.
<div class='quotetop'>QUOTE(ystasino @ May 14 2007, 10:57 AM) [snapback]441628[/snapback]</div> I don't know if this bodes well for Chrysler. The UAW says that it is happy, but this might have just been the best deal possible out of a few really lousy deals. Cerberus will focus on cutting costs, so Chrysler will have to build cheap, crappy cars- oh wait; they already do that. The most disturbing part of the story- "Cerberus also has former Vice President Dan Quayle an adviser." Yikes!
<div class='quotetop'>QUOTE(JimN @ May 14 2007, 09:54 PM) [snapback]442080[/snapback]</div> Maybe Mercedes, can and will focus back to building better cars.
Not only does Cerberus have Dan Quayle as a spokesman, but their CEO is John W. Snow, the undistinguished former Treasury secretary. I predict that Chrysler will be kaput within a year.
<div class='quotetop'>QUOTE(JimN @ May 14 2007, 09:54 PM) [snapback]442080[/snapback]</div> The news says the hound bought 80%. Who/what owns the other 20%? -Tom
<div class='quotetop'>QUOTE(Tom_06 @ May 15 2007, 06:07 AM) [snapback]442283[/snapback]</div> DaimlerBenz still owns a minority share. They will provide some engineering, and will handle Chrysler distribution in Europe.
<div class='quotetop'>QUOTE(larkinmj @ May 14 2007, 11:16 AM) [snapback]441639[/snapback]</div> I can almost hear the cries of the employees now: "Abandon ship! Everyone, abandon ship! Run for the hills!" Likewise, I can envision a sign posted over the gates leading into the factory: "Abandon all hope, all ye who enter". You know, now I'm definitely glad I don't own a DC product anymore. I get a really, really bad feeling about the Chrysler Corporation now.
<div class='quotetop'>QUOTE(larkinmj @ May 14 2007, 11:16 AM) [snapback]441639[/snapback]</div> In a related story, Chrysler has announced the introduction of a new vehicle- the Chrysler Potatoe!
Man, know who will make me a Hemi Hybrid? I want to get 15mpg again! Does this mean that Chrysler is down for the count?
<div class='quotetop'>QUOTE(micheal @ May 15 2007, 05:25 PM) [snapback]442741[/snapback]</div> You know, I have a bad feeling about this sale. I have a funny feeling about this - the kind that makes me compare Chrysler to DeLorean.
Hey man, if the American Autos don't shape up, what did you expect? Most corporations are going with ROI, and especially segmentation. The bottom line is $$$$$$! Don't make the money, then the business line(s) will be exited!!!
<div class='quotetop'>QUOTE(ozyran @ May 15 2007, 03:29 PM) [snapback]442700[/snapback]</div> I envision this sign over the gates leading into the factory after Cerberus takes over: "Arbeit macht frei".
