[Red Badger]

For Sale By Owner:
1 Slightly Used Automobile Company
Hardly Driven, Low Incentives, Low Quality, Workers overpaid,
Will not last...........

[bullfeather]

But; but ; they said they bought it because they wanted to know how Chrysler made a profit on cars.

[krb]

Coyote ugly.

[2banana]

DaimlerChrysler moved to undo the most expensive and one of the least successful mergers in auto industry history Monday as it agreed to essentially pay to dump the money-losing Chrysler unit which it paid $37 billion for nine years ago.

DaimlerChrysler (Charts) announced it will sell an 80 percent stake in its U.S. brand to Cerberus Capital Management, a private equity investment firm that will pay $7.4 billion.

Never has much been lost by so few in so short a time...

[2banana]

DaimlerChrysler moved to undo the most expensive and one of the least successful mergers in auto industry history Monday as it agreed to essentially pay to dump the money-losing Chrysler unit which it paid $37 billion for nine years ago.

DaimlerChrysler (Charts) announced it will sell an 80 percent stake in its U.S. brand to Cerberus Capital Management, a private equity investment firm that will pay $7.4 billion.

Never has so much been lost by so few in so short a time...

[mnehring]

7.4 Billion.. I have a sneaking suspicion this is probably the value of raw assets only such as land and equipment.. I wonder if we will even see Chrysler in existence in a few years or will all the plants and land be sold off as scrap?

[listenhillary]

Look for Daimler to open the new Socialist School of Business and technology and show us all how it is done.

[K-oneTexas]

It's interesting who is buying an 80% stake in the company (Cerberus Capital Management). It's also interesting as well who is a member of this group (John Snow). Hopefully this will translate into better decision making. But that remains to be seen since the Germans (Daimler-Chrysler) still maintains 20% ownership.

I really, really don't think Deiter inspired or anything else American customers with his commercials either. But alas we have lost many good American cars over the last few years and not to foreign owners.

[keepitreal]

Daimler’s Mercedes unit has had terrible quality control problems in the last few years itself.

http://www.consumeraffairs.com/news04/2006/01/mercedes_ads.html

[South40]

My Chrysler Sucks

[adm5]

If Dr. Z could have given us another 10 years of that brilliantly orchestrated advertising blitzkrieg, he just might have pulled this one out of the crapper.

So long Dr. Z, we hardly knew ye.

[colorado tanker]

Mr. Iaccoca, Lee Iaccoca, please pick up the fire engine red emergency telephone . . .

[GoldenPup]

Usual, predictable end to a “Shotgun” wedding.

[MrB]

Plan to rehab the auto industry, starting with Chrysler.

1) Close every factory for 6 months.
2) Reopen every factory and start hiring cycle.
3) Refuse to hire any Goonion members.
4) Pay the workers what they were getting + half of their goonion contribution.

[gcruse]

Good gawd, what a bath Daimler is taking. Those Buchananites decrying ‘foreign takeovers’ of American assets would do well to remember this, as if Sony’s debacle with the Rockefeller Center wasn’t enough.

[Centurion2000]

IIRC, they got their money when they raided Chrysler’s cash reserves (something like 5 billion).

[TopQuark]

While Daimler will receive the remaining $1.4 billion of Cerberus' capital contribution to the sale, Daimler expects to have to cover another $1.6 billion in Chrysler losses before the deal closes.

How did this reporter even got this job?

When you buy a house in February and agree to close on it in June, the current owner (seller) pays for all expenses occurred up unit the closing. The same has happened here: because losses will have occurred prior to "closing," they are covered by Deimler. That's all.

Another example of falsifying information to create a non-story.

[isom35]

the evil Dr. Z must be involved somehow!