Since today 10 am European time DAIMLER CHRYSLER does'nt exist anymore.
They are called DAIMLER AG.
They have sold CHRYSLER, thus JEEP, to CERBERUS an American fund for 5.1 billions Euros.
Quiet a bad days for the germans. They bought CHRYSLER for 36 billions a few years ago!!!
The big question is: what is going to happen. Since the funds are certainly not there to stay more than a few years.
During the next 3/5 years they have re shape the company to make it profitable, which is quiet far from today reality, and re sale it.
Since the average ROI these funds expect is about 30% per year I don't think R&D is going to be their main target.
My opinion is that HUMMER have quiet a few good years upfront.....
Dennis
5/14/2007 9:40:02 AM
Other than all the auto workers that will be axed..I'm glad to see Benz woke up and dumped that albatross.
importkiller
5/14/2007 9:49:15 AM
at least cerberum has agreed to take on the billions of pensions and medical care for the retired DM employees.....seems like they are trying to do the right thing. Plus they did a great job with gmac since buying the finance division last year.....possible combining gmac finance and DM finance could work well for consumers.
