Chrysler Sold

[Buehler445]

Wow.

Diamler-Benz only lost $30 BILLION on the deal. Your thoughts?

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

[Frazod]

Wow.

Diamler-Benz only lost $30 BILLION on the deal. Your thoughts?

HemiEd will be thrilled. He hates those damned Krauts. :D

[BigMeatballDave]

Who bought them?

[Buehler445]

My bad, I forgot the URL. I got it fixed. Sorry I'm a tard.

[BigMeatballDave]

Who bought them? Cerberus? Who the **** are they?

[htismaqe]

Cerberus? Who the **** are they?

A company that specializes in buying struggling companies and reorganizing them...

[eazyb81]

Cerberus? Who the **** are they?

Big PE firm. Some smart mofo's, they are going to turn that company around.

[BigMeatballDave]

Big PE firm. Some smart mofo's, they are going to turn that company around.I hope so. I have an 07 Dodge Ram.
:)

[htismaqe]

Big PE firm. Some smart mofo's, they are going to turn that company around.

Yep.

They've got an EXCELLENT track record.

The only issue is that, although they've been very successful at turn-arounds in the past, some of the decisions they've had to make have been somewhat "painful" for those affected.

[kepp]

I hope so. I have an 07 Dodge Ram.
:)
I'm sorry to be the one to tell you this but, as part of Cerberus' first move, you're being downsized. You'll have to turn in your Ram for a Dakota.

[Buehler445]

One major Private Equity (PE) firms have is that they don't necessarily turn in reports to the SEC for public viewing. This keeps the public eye off of them while they destroy the company heirarchy and fire many employees. In this case, I feel that it is important, because the company, like the other members of the Big 3, got bloated under Lee Iacocca, and there is no way the public would let them survive when they learned what they are going to do to the company.

[BigMeatballDave]

I'm sorry to be the one to tell you this but, as part of Cerberus' first move, you're being downsized. You'll have to turn in your Ram for a Dakota.
:)

[HemiEd]

HemiEd will be thrilled. He hates those damned Krauts. :D

Wow, Tim, you are not kidding! I can now order that new Challenger! This is exciting news, YEEEEHAAAAW!


I noticed the article mentioned nothing about the billions that Chrysler had in the bank when Daimler bought them, and tried to turn them into a BMW.
I hope they bring some front wheel drive cars back, they are the best in winter driving

[Fat Elvis]

From Wikipedia....


In Greek mythology, Cerberus or Kerberos (Greek Κέρβερος, Kerberos, "demon of the pit") was the hound of Hades, a monstrous three-headed dog (sometimes said to have 50 or 100 heads) with a snake for a tail; he was also seen with a dragon's tail and serpentine mane.

Cerberus guarded the gate to Hades and ensured that spirits of the dead could enter, but none could exit (additionally no living person was to come into Hades).

That has to make Chrysler employees feel good about thier future considering that Daimler thought it was a dead company.

[Frazod]

Wow, Tim, you are not kidding! I can now order that new Challenger! This is exciting news, YEEEEHAAAAW!


I noticed the article mentioned nothing about the billions that Chrysler had in the bank when Daimler bought them, and tried to turn them into a BMW.
I hope they bring some front wheel drive cars back, they are the best in winter driving

Be sure to let me know when you're doing that. :)

[Kerberos]

Sounds like Middle Management will be getting the AXE if re-organization still works the same?

[BigMeatballDave]

Wow, Tim, you are not kidding! I can now order that new Challenger! This is exciting news, YEEEEHAAAAW!


I noticed the article mentioned nothing about the billions that Chrysler had in the bank when Daimler bought them, and tried to turn them into a BMW.
I hope they bring some front wheel drive cars back, they are the best in winter drivingOh, my! That thing is badass!
http://www.dodge.com/dodge_life/news/car_news/img/challenger_news.jpg

[HemiEd]

Be sure to let me know when you're doing that. :)

Oh you bet I will, you will be one of the first to get a ride. Your Mustang is still the only one of those I have ever ridden in.
I am now going to get busy on this, I can't think of too many things that would have been better news, other than the employees buying the company. PBJ PBJ PBJ

[HemiEd]

Sounds like Middle Management will be getting the AXE if re-organization still works the same?

One of the first things Daimler did, was to get rid of Chrysler top management, the talent that turned the company around before. They were the ones that had made Chrysler profitable and build a stock pile of money. They only wanted "yes men" left in place, here in the U.S. from what one of my insider friends told me.

[HemiEd]

Oh, my! That thing is badass!
http://www.dodge.com/dodge_life/news/car_news/img/challenger_news.jpg

I agree, and it is supposed to be out this fall, last I heard. :drool: