Chrysler has been sold

[Martin]

Actually, it looks like Daimler paid Cerberus to take Chrysler off its hands

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.
But the German automaker, which will be renamed simply Daimler, will not actually get most of the money that Cerberus is paying for the once proud automaker. Instead Cerberus will contribute $5 billion to the Chrysler auto operations it will now control, with just over another $1 billion going to Chrysler's finance arm.
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. So Daimler estimates that it will end up paying out about $650 million to close the deal, and that its earnings for 2007 will take a $4 billion to $5.4 billion profit hit due to charges related to the transaction.

http://money.cnn.com/2007/05/14/news/co..._sale/index.htm?postversion=2007051406

 

[Vic]

1. It's nice to see that Chrysler is an American car company once more. :thumbsup:

2. Chrysler has ALWAYS made junk cars. No offense to the Mopar lovers, as they make some really nice engines, but the overall cars themselves have always been crap. Even the Viper is a great performance car but has terrible fit-and-finish problems.

3. I see this as a very positive move for Chrysler. Not being under the constant microscope of having to prop up their stock prices, PE firms have a tendency to focus on long-term investment. Which is exactly what -- not just Chrysler -- but all the US automakers need in order to regain competitiveness.

 

[Siddhartha]

Originally posted by: steppinthrax
Chrysler vehicles have always been sh!ty so I hope they run them into the trashcan

Chrysler never recovered from the 1972 - 3 Oil supply crisis and the stricter polution standards. Also Lee Iacocoa's K car set the tone for the automaker.

But during the 1950-60's Chrysler built good cars.

 

[Kwaipie]

Originally posted by: piasabird
Maybe we can sell Washington, DC!

That happened years ago. Pharmaceuticals, Big Oil, Defense Industry.

Of, by and for the corporation, long may she wave.

 

[dmcowen674]

Originally posted by: Kwaipie

Originally posted by: piasabird
Maybe we can sell Washington, DC!

That happened years ago. Pharmaceuticals, Big Oil, Defense Industry.

Of, by and for the corporation, long may she wave.

Wow, so many more people realizing this.

Once upon a time I was ribbed for being the only one that said this on here.

I still get ribbed but I am no longer the only one saying this. :thumbsup:

 

[Vic]

Originally posted by: dmcowen674

Originally posted by: Kwaipie

Originally posted by: piasabird
Maybe we can sell Washington, DC!

That happened years ago. Pharmaceuticals, Big Oil, Defense Industry.

Of, by and for the corporation, long may she wave.

Wow, so many more people realizing this.

Once upon a time I was ribbed for being the only one that said this on here.

I still get ribbed but I am no longer the only one saying this. :thumbsup:

:roll: You get "ribbed" because you're a moron who turns everything into some ridiculous partisan battle. You don't get "ribbed" for "being the only one saying this," because you are not and have NEVER been only one saying this.
It is not a stretch to say that virtually everyone here agrees that the corporations (and other special interests) have to much control in government, and government too much control in the corporations.

 

[Mxylplyx]

Originally posted by: dmcowen674

Originally posted by: MonkeyK

Originally posted by: halik

Originally posted by: ntdz

Originally posted by: dmcowen674

Originally posted by: blackangst1
Leave it to Dave to blame Republicans lol

Leave it to you and your kind to never accept responsibility.

How could this possibily be Republican's fault? It was sold under Clinton and was ruined by the UAW, a key Democratic supporter.

You must be new here. Let me explain how this works:
___________
|........................|
|...REALITY.....|
|__________|

* <-dave

At least he thinks outside of the box.

Thank you

Welcome to P&N :thumbsup:

That box is reality Dave. You are far removed from it.

 

[LegendKiller]

Originally posted by: Vic

Originally posted by: dmcowen674

Originally posted by: Kwaipie

Originally posted by: piasabird
Maybe we can sell Washington, DC!

That happened years ago. Pharmaceuticals, Big Oil, Defense Industry.

Of, by and for the corporation, long may she wave.

Wow, so many more people realizing this.

Once upon a time I was ribbed for being the only one that said this on here.

I still get ribbed but I am no longer the only one saying this. :thumbsup:

:roll: You get "ribbed" because you're a moron who turns everything into some ridiculous partisan battle. You don't get "ribbed" for "being the only one saying this," because you are not and have NEVER been only one saying this.
It is not a stretch to say that virtually everyone here agrees that the corporations (and other special interests) have to much control in government, and government too much control in the corporations.

Don't forget. Dave is the Oracle of Tornadoes. He can spot a tornado by it's radar echo *and* sat image, determine exactly what the $$ damage will be, and categorize it by the Enhanced Fujita scale long before any meteorologist can.

 

[MonkeyK]

Originally posted by: Mxylplyx

Originally posted by: dmcowen674

Originally posted by: MonkeyK

Originally posted by: halik

Originally posted by: ntdz

Originally posted by: dmcowen674

Originally posted by: blackangst1
Leave it to Dave to blame Republicans lol

Leave it to you and your kind to never accept responsibility.

How could this possibily be Republican's fault? It was sold under Clinton and was ruined by the UAW, a key Democratic supporter.

You must be new here. Let me explain how this works:
___________
|........................|
|...REALITY.....|
|__________|

* <-dave

At least he thinks outside of the box.

Thank you

Welcome to P&N :thumbsup:

That box is reality Dave. You are far removed from it.

But it's such a small box. Someone said 1" squared. We can't all fit in, now can we?