Chrysler sold for 7.4B

simon says

Veteran Expediter
Charter Member
The much anticipated sale of Chrysler is a done deal. Reprinted below is the article from AP news/Yahoo. Cerberus is an equity firm that buys up assets, allegedly to make them profitable. I find the quote from the article revealing:
"The prospect of a sale to a private equity firm had worried unions in the United States and Canada because of the firms' tendency to slash costs and jobs."
I think the carve-up of Chrysler is ahead, and will have repercussions for expediting...
 

greg334

Veteran Expediter
Just got back and heard the news. Oh well, the company started as a take over of Maxwell, buying Dodge from the bank so this has made it a case of coming full circle.

Too bad for the people who work there, I read some really interesting things about how they will gut the company.

And both the UAW and CAW should just have an open and complete strike to protest the sale.

I truly think that D-C should either spun off the company or allow the UAW/CAW to come up with the money to buy it as it has been talked about here a lot.
 

x06col

Veteran Expediter
Charter Member
Retired Expediter
US Army
Yes. And, I also read thhaat the "rank and file" is a bit jjjumpy about it, wonder'in what their future holds. I guess they should'a gave that some figgur'in some years ago. Seems to me Delphi is next.
 

Lawrence

Founder
Staff member
Interesting to see what will happen to their Commercial Van division....the Sprinter.

Lawrence,
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unorthodoxneon

Expert Expediter
the germans still own 20% of the company. The germans are going to be in controll or incharge of the truck division. They will probably let Dodge share the sprinter name for now buti can see the germans getting the van back and dodge creating their own vans.

The more we get Daimler out of chrysler the better it will be for Chrysler. Daimler stuck what ever they could to chrysler even if it ment their crappy expensive parts on chrysler cars and then make chrysler come out to be bad because they didnt show a profit...


Gah, me getting started on Daimler...

Good riddance.

Bring back the ME-412 and release the other concept cars that were hit and show who the real car company is in this.

MOPAR OR NO CAR!!!

Now i have no reason to like freighliner anymore :+
 

greg334

Veteran Expediter
Well I am hearing serious doubts about the sprinter line staying with Chrysler at all. Even with the 20% ownership left, there seems to be a move to shore up FL with their version of the van and sell more through the M-B dealer system because of the success of the ML line, or this is what I have been told. Nothing is final until it happens but IMHO it would be rather dumb to sell a re-branded vehicle outside of the company anyway because of warrantee issues and other factors involved in this day and age. Maybe it would be a good thing that Chrysler gets out of the van market completely and focus on products that already some appeal, like their trucks.

I have a feeling that we will see some new products come out of the deal but truthfully they need to get rid of the idea that people remember the 60's and help them forget the 70's. The white hat days are long gone and retro cars made from a sedan platform really is discouraging. I still own many Chrysler products but there is a huge difference between the retro-cr*p cars that they have been pushing (or at least around here) and the real deal I have sitting in storage.

What I hope will happen - may not happen, if they really are serious about resuscitating the company, bring the concept to production down to a reasonable level as they were trying to do before the hostile take over in ’98. That went out the door when Daimler got rid of the 30% of the engineers working at the tech center.

The other thing that I wish they would realize is that a majority of their customers are not employees and tell the dealers stop advertising these great deals on the cars that the public can’t get. If the employees can’t comprehend that they get a discount, they don’t deserve to work there in the first place.
 

Crazynuff

Veteran Expediter
>Just got back and heard the news. Oh well, the company
>started as a take over of Maxwell, buying Dodge from the
>bank so this has made it a case of coming full circle.
>
>Too bad for the people who work there, I read some really
>interesting things about how they will gut the company.
>
>And both the UAW and CAW should just have an open and
>complete strike to protest the sale.
>
>I truly think that D-C should either spun off the company or
>allow the UAW/CAW to come up with the money to buy it as it
>has been talked about here a lot.
I read that strikes will not impress the new owners . They are making plenty with the other companies they own . They'll let the plants sit idle and not lose any sleep over it . I also read they plan on eliminating 10% - 15% of dealerships and drastically cutting the number of models offered .
 

silverdollar

Expert Expediter
I gave up on Chrysler when they quit making the LHS. I sure was not going to buy the 300, it looks like a shoe box.x(
 
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