Posted on 03/23/2007 7:02:51 AM PDT by nascarnation
Magna International Inc. has hooked up with a private equity group to make an offer for the Chrysler group, a U.S.-based analyst said today in a report quoted by Automotive News.
(Excerpt) Read more at theglobeandmail.com ...
Interesting. Thanks for posting.
(((.)))
Magna is an enormous parts supplier - but only because they consistently have the lowest cost of any supplier. Normally that's not a bad thing, but Magna was responsible for a lotthe cheap-jack GM switches, electronics, and interior parts from the 70s to present day. Their overall quality is generally terrible, and they have the old "let's save money everywhere and we don't care what the end customer thinks" mindset because they have their customers (the Big Three) locked into multiyear contracts.
Er, forgot to add: I shudder to think about what Chryslers would become under Magna. It would be a return to the bad old days of 1978.
The legacy of GM's Jose Ignacio "Inaki" Lopez lives to this day.
Millions of unhappy customers generated by miniscule cost savings on parts which failed in customer usage.
Not just "unhappy" - enraged (at the time) and angry (now).
Between "planned obsolescence" and Lopez's pointless cost-cutting/penny pinching (which was also practiced at Ford and Chrysler), is it any wonder so many people buy "imports"?
Hey, GM, how much is that $1 per car you saved on door handles and window switches worth now that you've run off most of your customers?
Yeah, Bubba can check out the assembly line interns.
Please send me a FReepmail to get on or off this Canada ping list.
Millions of unhappy customers generated by miniscule cost savings on parts which failed in customer usage.
Risk managers can live with 2-sigma quality.
Belinda is a Liberal MP, She was on the executive board of Magna prior to her short but sleazy political carreer, where she first signed on as a conservative, ran and failed an attept to be party leader, subsequently stabbed the conservative party in the back and crossed the floor after sleeping with Paul Martin the night before and taking a bribe which consisted of a cabinet position in the then liberal government if she would cross the floor and not vote to defeat the liberal government, thereby stabbing all Canadians in the back by keeping a corrupt Liberal government in power.
To further enhance her reputation as a political whore, she refused to call a by- election to allow her riding to elect another conservative with better moral values. Then to enhance her reputation as another kind of whore, she started an affair with a married man, a hockey player, breaking up a familly and leaving his kids with the trauma of a broken home just so she could scratch her itch.
She now claims to represent the working people, most of whom work in the auto industry, where behind their backs, her company is working to put many of them on unemployment. She is also a strong supporter of the new liberal leaders enviromental mantra, and implimenting the Koyoto accord, while her company is one of Ontario's biggest polluters.
Harpers carbon reducing initiatives, which the liberals have been crying he wasn't doing anything about, as said to cause some layoffs in the Auto sector, which now has the same global warming fanatics crying because they will actually have to do what they are crying for everyone else to do, reduce carbon emmissions from Auto plants and related suppliers, like Magna.
Liberals are evil, lying, two faced crooks. Why Ontario and Quebecers keep voting them into office is one of the world's greatest unsolved mysteries. Must be something in the water there, or there is another homosexual disease going around undetected which effects the reasoning region in the brain, rotting it.
Then they are a perfect fit for Crysler, who's quality issues go back as far as the company.
Sounds like Belinda was well schooled by "BJ" Clinton.
Everyone has had sex with Bill except Hillary.
Only a liberal can take corruption and call it "progressive".
Hey, GM, how much is that $1 per car you saved on door handles and window switches worth now that you've run off most of your customers.
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I don't know about GM but I clearly remember a conversation thirty years or so ago concerning a machine sold by my employer at the time. There was a persistent problem that annoyed the customers and someone had suggested a change that would eliminate the problem. It seems that the idea was rejected because the change would cost $50. and therefore the price of the machine would have to go up by $300. and that would price the machine out of the market. I kid you not!
Whatever it is, the "Give Peace a Chance" crowd have got it bad.
Sell Chrysler to who? Toyota certainly does not need the additional market share. Volkswagen is pretty occupied with their own business model.
Maybe Chinese investors? Not like they do not have the cash to make an outright purchase. And besides, they will get the "Jeep" trademark, which was probably the original reason that Daimler-Benz bought into Chrysler.
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