Law and Rights
DaimlerChrysler looks to be facing tough times and tough troubles.
Recently the company announced that it had immediately suspended some senior managers after a probe uncovered what it calls "unspecified irregularities" (corporate speak for "we aren't gonna tell you how bad it is").
The company is already under investigation by the US Securities and Exchange Commission over allegations that it used slush funds to bribe foreign officials, as US financial regulators and criminal investigators continue looking into potential violations of anit-corruption laws because of payments the company has said deal primarily with transaction involving government entities in Africa, Asia and eastern Europe.
On top of that, the Chrysler group last month posted a $1.46 billion (with a "B") loss for the third quarter. Luckily, the Mercedes and Truck divisions are making up for it.
Meanwhile, rumors continue to float that the Chrysler group may be for sale. When asked, its Chief Financial Officer Uebber said "We don't exclude anything here," including structural changes as the company aims to improve its profit margins by a publicly announced $1,000 per vehicle.
Even at that, however, it's doing a lot better than GM and Ford, which are projected to be losing $1,271 and $451 respectively for each vehicle sold in the US while Chrysler squeezes out a narrow profit of $144. Even at that, all three are miles behind Nissan's $2,135 profit per vehicle Toyota's profit of $1,715 per vehicle and Honda's $1,259.
If you're in the market for a new car, the manufacturer's financial stability is something you might want to consider. When companies pinch pennies, quality control can be the first thing to go out the window. When that happens, the lemons start popping. If you get one, call or email or fax us.
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- "we'll Pay You To Buy Chrysler"
Apparently parent company DaimlerChrysler AG (DC) is so anxious to dump Chrysler (CC) that it has agreed to pay the buyer $1.55 billion to take over the ailing American auto giant. Last week we thought the Russians were coming. Now, we find out it's...
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- Unions Leary Of Chrysler Bidder
Unions aren't happy with rumors of big money moguls buying Chrysler from DaimlerChrysler AG and that just may foul up the investor group's plans, according to Reuster news reports. The unions' opposition comes just as Cerberus Capital Management...
Law and Rights
Federal Investigations and Lousy Financials Haunt Chrysler
DaimlerChrysler looks to be facing tough times and tough troubles.
Recently the company announced that it had immediately suspended some senior managers after a probe uncovered what it calls "unspecified irregularities" (corporate speak for "we aren't gonna tell you how bad it is").
The company is already under investigation by the US Securities and Exchange Commission over allegations that it used slush funds to bribe foreign officials, as US financial regulators and criminal investigators continue looking into potential violations of anit-corruption laws because of payments the company has said deal primarily with transaction involving government entities in Africa, Asia and eastern Europe.
On top of that, the Chrysler group last month posted a $1.46 billion (with a "B") loss for the third quarter. Luckily, the Mercedes and Truck divisions are making up for it.
Meanwhile, rumors continue to float that the Chrysler group may be for sale. When asked, its Chief Financial Officer Uebber said "We don't exclude anything here," including structural changes as the company aims to improve its profit margins by a publicly announced $1,000 per vehicle.
Even at that, however, it's doing a lot better than GM and Ford, which are projected to be losing $1,271 and $451 respectively for each vehicle sold in the US while Chrysler squeezes out a narrow profit of $144. Even at that, all three are miles behind Nissan's $2,135 profit per vehicle Toyota's profit of $1,715 per vehicle and Honda's $1,259.
If you're in the market for a new car, the manufacturer's financial stability is something you might want to consider. When companies pinch pennies, quality control can be the first thing to go out the window. When that happens, the lemons start popping. If you get one, call or email or fax us.
Burdge Law Office
www.UsLemonLawyers.com
Helping Consumers, and Consumer Law Attorneys, Since 1978
www.UsLemonLawyers.com
Helping Consumers, and Consumer Law Attorneys, Since 1978
Subscribe in a reader- You Can Tell The Economy Sucks When ---
Even Toyota is feeling the pain from a lousy US auto-industry downturn. Leasing problems have contributed to some pretty painful profit (or lack of it) numbers in Tokyo, where Toyota Motor Corp. reported a 38.9 percent drop in operating profit. How would...
- "we'll Pay You To Buy Chrysler"
Apparently parent company DaimlerChrysler AG (DC) is so anxious to dump Chrysler (CC) that it has agreed to pay the buyer $1.55 billion to take over the ailing American auto giant. Last week we thought the Russians were coming. Now, we find out it's...
- Russians Are Coming, The Russians Are Coming
Chrysler ... bought by the Russians? Say it ain't so . . . Magna International is a finalist in the buyout bidding for Chrysler and is already making plans on restructuring the lumbering auto giant. Now comes word that a company owned by Russian...
- Let's Buy Chrysler !
It's deja vu all over again, says Yogi. At the New York auto show in 1995, billionaire Kirk Kerkorian (#53 of the world's richest people, according to Forbes in 2006) announced that he would make a $20 Billion dollar bid to buy Chyrsler Corporation....
- Unions Leary Of Chrysler Bidder
Unions aren't happy with rumors of big money moguls buying Chrysler from DaimlerChrysler AG and that just may foul up the investor group's plans, according to Reuster news reports. The unions' opposition comes just as Cerberus Capital Management...