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    May 14, 2007 4:24:16 PM

    dan996
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    dan996
    Loc: Delray Beach, Florida, , United States
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    Chrysler Sold

    Let me see Damlier buys for $38 Billion and sells 80% share for $7.4 Billion...quite a deal don't you think. Their reputation has gone downhill with their reliability since buying Chrysler and now they loose $29 Billion. Bigger is not always better, Porsche might take a close look at this example before they go to far into VW.

    http://www.msnbc.msn.com/id/18645179/

    May 14, 2007 4:27:51 PM

    palenimbus
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    palenimbus
    Loc: Baden-Württemberg, Germany
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    Reply to: dan996

    Re: Chrysler Sold

    Ya, they had to stop the bleeding; better to cut your losses now than wait for Chyrsler to be a total basket case and require cash infusions.

    Just wanted to add this little interesting tidbit:

    "On the negative side, the deal puts an embarrassingly low value on Chrysler. Forget the $7.4 billion dollar figure displayed prominently in the headlines.

    Dig a little deeper and you realize that $5 billion represents Cerberus' capital infusion into the auto business and another $1 billion an infusion into the finance business. When all the bookkeeping is completed, Daimler will actually record a net cash outflow of $650 million to be rid of Chrysler."

    May 14, 2007 5:23:36 PM

    janus Offline
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    janus
    Loc: Croatia
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    Reply to: palenimbus

    Re: Chrysler Sold

    are you telling me that Daimler lost all the payed for Chrysler!?
    HOW can that be, how can they survive such a hit!?

    May 14, 2007 5:34:48 PM

    dhayek Offline
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    dhayek
    Loc: Beirut , Lebanon
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    Reply to: janus

    Re: Chrysler Sold

    Quote:
    janus said:
    how can they survive such a hit!?


    good question

    May 14, 2007 5:39:53 PM

    SciFrog Offline
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    SciFrog
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    Reply to: dhayek

    Re: Chrysler Sold

    Shareholders lost it. You don't always make money when you buy stocks.

    May 14, 2007 8:24:30 PM

    connoisseur
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    connoisseur
    Loc: Nebraska
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    Reply to: SciFrog

    Re: Chrysler Sold

    A good first step. Now if Daimler can just remember how to build automobiles. I hope that the name will revert back to Daimler-Benz. It had so much greater meaning than Daimler-Chrysler.

    May 14, 2007 9:02:52 PM

    palenimbus
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    palenimbus
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    Reply to: connoisseur

    Re: Chrysler Sold

    It's going to be called Daimler AG, I agree, they should have reverted it back to Diamler-Benz AG.

    May 14, 2007 9:04:35 PM

    WBH
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    WBH
    Loc: CA
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    Reply to: dan996

    Re: Chrysler Sold

    Excellent....admit mistakes and move on....

    Have owned 2 new CLs (550 and 600) in past 6 mos...and waiting for deliv of my CL63 in next few days and CL65 in late Summer (and surprisingly have never looked fwd to driving any car on my favorite local roads as much as I do CL63 and CL65).....having owned/driven dozens of new MB/F/P/L over past 5 yrs, would argue new CL is easily world's most tech advanced car, w/flawless quality/reliability (notably better than any P/F/L) and brilliant interior design/ergonomics (also uniquely outstanding)....

    If the codgerly CL600 in non-AMG-spec is any indication, I suspect the more driver-focused CL63 will rival 599 for most enjoyable overall car for me in my usual wkend mtn twisties driving ....given the guys getting the first 3-4 CL63s and 3-4 CL65s at my local MB dealer are all guys who also obtained early 599s (@MSRP), my sense is MB is already moving in right direction....

    May 14, 2007 9:11:17 PM

    fritz
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    fritz
    Loc: BaWü , Germany
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    Reply to: WBH

    Re: Chrysler Sold

    Quote:
    VKSF said:
    .....having owned/driven dozens of new MB/F/P/L over past 5 yrs, would argue new CL is easily world's most tech advanced car, w/flawless quality/reliability



    How do you assess a car's reliability when you apparently don't hold on to your cars long enough to put any miles on them?

    May 14, 2007 9:29:20 PM

    MAVERICK Offline
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    MAVERICK
    Loc: Cincinnati, OH (USA) , United States
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    Reply to: connoisseur

    Re: Chrysler Sold

    Quote:
    connoisseur said:
    A good first step. Now if Daimler can just remember how to build automobiles. I hope that the name will revert back to Daimler-Benz. It had so much greater meaning than Daimler-Chrysler.



    I would love it if Mercedes automobiles were to equal or beat Audi and Lexus in passive safety, reliability, and perceived interior quality.

    May 14, 2007 10:44:03 PM

    dan996
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    dan996
    Loc: Delray Beach, Florida, , United States
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    Reply to: MAVERICK

    Re: Chrysler Sold

    The amazing part of this equation was Chrysler was doing quite well before Daimler came along. First thing that happened was all the top brass for Chrysler bail out or was asked to leave. Daimler came in and tried to run this company as they would a German company and it backfired into their wallets. They should do more homework before purchasing in the future. The marriage ruined Chrysler and Daimlers reliability here in the US market. I know too many of my friends that will not buy a Mercedes here and talked to a High line preowned dealer last week and he said that he did not even want to buy used MB anymore because they spent so much time in the shop getting fixed he ends up losing money.

    May 14, 2007 10:54:54 PM

    palenimbus
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    palenimbus
    Loc: Baden-Württemberg, Germany
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    Reply to: dan996

    Re: Chrysler Sold

    I really don't believe that Chrysler went down the tubes because of Daimler. Are you saying that had Chrysler not been acquired by Daimler, it would be thriving right now while Ford and GM are half-dead?

    Remember that when Daimler bought them, all the US auto makers were doing great, in fact, the stocks of GM and Ford were at all time highs, check the charts. Also remember that gasoline prices were at dirt cheap levels back around the yr 2000.

    May 14, 2007 11:02:43 PM

    911fan
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    911fan
    Loc: usa
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    Reply to: palenimbus

    Re: Chrysler Sold

    I always thought it was a weird marriage. I believe it will be best for both companies.

    May 14, 2007 11:12:47 PM

    JimFlat6
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    JimFlat6
    Loc: Cave , United States
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    Reply to: palenimbus

    Re: Chrysler Sold

    Chrysler went to hell because of bad products selected by bad managment that sold badly.

    Daimler's German executives made some bad decisions for Chrsyler. They chose to build such junk like the Crossfire and the Nitro etc..Boom! They shot their own toes off.

    Even the touted 300 has steering, suspension, and brake issues from poor design and managements' quality control procedures that are sending customers to attorneys offices.

    The truck sales wich had always been good, tanked when buyer demand fell off and those lost sales were a big part of their business plan. The trucks had good quality because Daimler hadnt gotten to changing them yet.

    They also alienated many Chrysler customers by making engines with oil galleys so small that they clog with sludge making the engines die at 20 to 30 thousand miles.
    And Daimler refuses to pay for their repairs even under warranty!

    Daimler also treated their Chrsyler dealers like crap, forcing dead inventory on them and raping them with new floor plan costs.

    Whats left that wasn't ruined by mismanagement? Only Viper and Jeep, and those arent perfect either, but the new Jeep 4 door Wrangler is a hot sales item but could use a much better engine.

    A huge opportunity lost for Daimler. Sad really. They treated the company like a unwanted step child from the very beginning. It was supposed to have been a merger but turned into a disaster.

    May 14, 2007 11:36:01 PM

    palenimbus
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    palenimbus
    Loc: Baden-Württemberg, Germany
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    Reply to: JimFlat6

    Re: Chrysler Sold

    I still think the issue is much simpler than all that, Jim. The market moved away from trucks and high fuel consumption vehicles. Chrysler/Dodge have a larger % of trucks than Ford/GM.

    May 15, 2007 2:16:27 AM

    ADias
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    ADias
    Loc: Southwest USA , United States
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    Registered on: Apr 9, 2004
    Reply to: fritz

    Re: Chrysler Sold

    Quote:
    fritz said:
    Quote:
    VKSF said:
    .....having owned/driven dozens of new MB/F/P/L over past 5 yrs, would argue new CL is easily world's most tech advanced car, w/flawless quality/reliability



    How do you assess a car's reliability when you apparently don't hold on to your cars long enough to put any miles on them?



    Good question. The answer is he honestly cannot. These are just expendable toys. The toy de jour. And at the end of the day... to each his own.
     
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