Law and Rights
Hold on to your hats, folks...
Automotive News is reporting that DaimlerChrysler may be negotiating with General Motors for GM to acquire Chrysler. That's a reversal of what DaimlerChrysler CEO Dieter Zetsche said just last fall. Is DaimlerChrysler that desperate to shed the Chrysler product line? Apparently so.
Last fall DaimlerChrysler's Chief Financial Officer had said that he wouldn't rule out a sale of the Chrysler "arm" of DaimlerChrysler, only to have the corporation itself issue a press release the next day saying Chrysler wasn't for sale. Well, maybe it is after all.
CEO Dieter Zetsche's statement resurrects the speculation from last fall, which followed on the heels of Chrysler group's dismal third-quarter results, which included a $1.48 billion loss. Perhaps someone in Germany finally looked at the numbers and said "we're bleeding all over the floor here folks" and maybe someone finally believed it1
When pushed for comment, Zetsche would refused to comment on Germany's Manager Magazin report that DaimlerChrysler was negotiating to sell Chrysler to General Motors. Manager Magazin didn't name its sources but said the talks were "in full swing."
Zetsche's reaction? "I cannot and will not go into any further details." Meanwhile a General Motors isn't talking. Typically, when two big companies are talking about one buying the other, the response that both give is very often not to say anything at all.
The "gotta sell" mentality probably wasn't helped by today's posting of a $7.28 billion operating profit by DaimlerChrysler for 2006 after the Chrysler group posted its own loss of $1.47 billion.
As Everett Dirkson said once, "A billion here, a billion there, pretty soon you're talking about real money."
Who knows what all this will mean for American consumers...we'll have to wait for the dust to settle.
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- Magna Tries Russia
Apparently rejected by DaimlerChrysler in its bid to acquire a chunk of ailing Chrysler, Magna is now woing AvtoVAZ, Russia's largest carmaker. The Russian company and Canadian auto parts maker Magna International agreed today to jointly develop and...
- "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...
- 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....
- 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...
- Big 3 Warranty Repair Costs Reflect Quality
Ford's 2005 warranty repair costs were $3.986 Billion, which was 2.6% of product sales. Maybe a small percentage, but it's a really huge number. GM's 2005 warranty repair costs were $4.696 Billion, which was 3% of product sales. The only good...
Law and Rights
Is GM Buying Chrysler ???
Hold on to your hats, folks...
Automotive News is reporting that DaimlerChrysler may be negotiating with General Motors for GM to acquire Chrysler. That's a reversal of what DaimlerChrysler CEO Dieter Zetsche said just last fall. Is DaimlerChrysler that desperate to shed the Chrysler product line? Apparently so.
Last fall DaimlerChrysler's Chief Financial Officer had said that he wouldn't rule out a sale of the Chrysler "arm" of DaimlerChrysler, only to have the corporation itself issue a press release the next day saying Chrysler wasn't for sale. Well, maybe it is after all.
CEO Dieter Zetsche's statement resurrects the speculation from last fall, which followed on the heels of Chrysler group's dismal third-quarter results, which included a $1.48 billion loss. Perhaps someone in Germany finally looked at the numbers and said "we're bleeding all over the floor here folks" and maybe someone finally believed it1
When pushed for comment, Zetsche would refused to comment on Germany's Manager Magazin report that DaimlerChrysler was negotiating to sell Chrysler to General Motors. Manager Magazin didn't name its sources but said the talks were "in full swing."
Zetsche's reaction? "I cannot and will not go into any further details." Meanwhile a General Motors isn't talking. Typically, when two big companies are talking about one buying the other, the response that both give is very often not to say anything at all.
The "gotta sell" mentality probably wasn't helped by today's posting of a $7.28 billion operating profit by DaimlerChrysler for 2006 after the Chrysler group posted its own loss of $1.47 billion.
As Everett Dirkson said once, "A billion here, a billion there, pretty soon you're talking about real money."
Who knows what all this will mean for American consumers...we'll have to wait for the dust to settle.
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- Magna Tries Russia
Apparently rejected by DaimlerChrysler in its bid to acquire a chunk of ailing Chrysler, Magna is now woing AvtoVAZ, Russia's largest carmaker. The Russian company and Canadian auto parts maker Magna International agreed today to jointly develop and...
- "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...
- 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....
- 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...
- Big 3 Warranty Repair Costs Reflect Quality
Ford's 2005 warranty repair costs were $3.986 Billion, which was 2.6% of product sales. Maybe a small percentage, but it's a really huge number. GM's 2005 warranty repair costs were $4.696 Billion, which was 3% of product sales. The only good...