Chrysler is American Owned once again...

[C O D Y]

DaimlerChrysler closes deal to sell Chrysler Group to Cerberus.

http://money.cnn.com/2007/08/03/news/companies/chrysler_purchase/index.htm?cnn=yes

 

[George Farris]

Cerberus closes Chrysler deal

Another article ...

 

[mike & juli]

Thanx CODY for posting that article...I myself would hate to see losing the Chrysler name. To me, personally, it is synonymous with GREAT vehicles (300M, 300M Special just to name a couple that I really loved)...guess we shall see what happens. ~juli~

 

[Warfang]

Now let's go ruffle some French feathers...

 

[ViperGTS]

I wish Chrysler/Dodge/Jeep all the luck and an excellent management to get back into the black numbers again!

Although, this (from Cody´s link) doesnt read easy: Chrysler Group lost $1.5 billion last year, and it is moving to close factories and cut 13,000 jobs in an effort to stem those losses. But it is the looming cost of covering promises made to retirees and their dependants to provide them with healthcare that is the major cloud hanging over the company. Chrysler has 111,492 retirees and family members receiving benefits, compared to only 41,249 active UAW-represented workers. The current liability of those promised benefits are estimated to be about $18 billion.

@ Cerberus! ....................do we see another VOI in 2009? No. 10!

 

[Paul Hawker]

Rest in Peace Daimler-Chrysler.

Expect the new Chrysler to be huge successful.

 

[Warfang]

Rest in Peace Daimler-Chrysler.

Expect the new Chrysler to be huge successful.

...more like, "Good Riddence" to ***** trash.

 

[Photog1]

@ Cerberus! ....................do we see another VOI in 2009? No. 10!

You mean in 2008. VOI9 was in Sept of 2006 so the next one would be in 08. I am ready for the next one VOI9 was fantastic.

 

[C O D Y]

http://money.cnn.com/2007/08/05/news/companies/chryslernardelli.fortune/index.htm?cnn=yes

Ceberus has confirmed that the disgraced former CEO of Home Depot, Robert Nardelli, was appointed Chrysler's chairman and chief executive officer......

"Cerberus says that Nardelli will receive only $1 a year in base salary."

"Nardelli angered Home Depot shareholders when he refused to take questions during a shareholder meeting in May 2006 as the stock was floundering. His rich pay package drew fire; he earned $38.1 million last year. Ultimately he was forced out of the company in January 2007, but left with a $210 million golden parachute in cash and stock options that included a $20 million severance payment and retirement benefits of $32 million."

 

[Warfang]

http://money.cnn.com/2007/08/05/news/companies/chryslernardelli.fortune/index.htm?cnn=yes

Ceberus has confirmed that the disgraced former CEO of Home Depot, Robert Nardelli, was appointed Chrysler's chairman and chief executive officer......

"Cerberus says that Nardelli will receive only $1 a year in base salary."

"Nardelli angered Home Depot shareholders when he refused to take questions during a shareholder meeting in May 2006 as the stock was floundering. His rich pay package drew fire; he earned $38.1 million last year. Ultimately he was forced out of the company in January 2007, but left with a $210 million golden parachute in cash and stock options that included a $20 million severance payment and retirement benefits of $32 million."

$1 in salary... how much in yet another golden parachute?

Wolfgang as chairman was a good start... but this clown as CEO... HOME DEPOT???!!! How does that qualify him to run a car company?

 

[F4PHANTOM]

http://money.cnn.com/2007/08/05/news/companies/chryslernardelli.fortune/index.htm?cnn=yes

Ceberus has confirmed that the disgraced former CEO of Home Depot, Robert Nardelli, was appointed Chrysler's chairman and chief executive officer......

"Cerberus says that Nardelli will receive only $1 a year in base salary."

"Nardelli angered Home Depot shareholders when he refused to take questions during a shareholder meeting in May 2006 as the stock was floundering. His rich pay package drew fire; he earned $38.1 million last year. Ultimately he was forced out of the company in January 2007, but left with a $210 million golden parachute in cash and stock options that included a $20 million severance payment and retirement benefits of $32 million."

Well no more Vipers or any Cerberus cars for me. I wouldn't buy anything from the arrogant, aristocrat BOB N.. Not surprised John Snow hired him as I'm sure they are aristocrat buddies. In addition Snow is a ****. He was recently interviewed stating that his rich, aristocrat buddies in the hedge fund business should continue to pay only a 15% capital gains tax rate on the 20% fees they charge to risk other people's money instead of theirs. He says these super rich guys will quit if they have to pay taxes like the poor unwashed masses and we will all suffer as a result. Well like I said I have no intention of buying anything from them. I hope they go bankrupt and commit suicide.

 

[mike & juli]

The newspaper today (8/6/07) had a full-page ad stating "The New Chrysler"...and proceeding to say they will introduce 20 new vehicles, including the Dodge Challenger...no mention about the Viper. ~juli~

 

[ViperTony]

$1 in salary... how much in yet another golden parachute?

Wolfgang as chairman was a good start... but this clown as CEO... HOME DEPOT???!!! How does that qualify him to run a car company?

We'll never know since Chrysler is now a private company and you'll no longer see SEC filings detailing officer compensation. Knowing Nardelli, I guarantee his payout is huge. This is one tough and arrogant SOB and I'm sure it will be a culture shock for Chrysler employees. I feel bad for them, for what they're about to go through with Nardelli. They will be in my prayers.

 

[Warfang]

take a look:
http://www.chryslerllc.com/

 

[viprvenm]

God Bless America.

 

[Racer Robbie]

Does everyone remember when Lee Iaccoca took a salary of $1.00 a year. I do not remember where I read it by I would swear that China is in on the new deal. Don't quote me but I say it somewhere. And don't forget that D still owns like 20% of C. If I am right so much for an American owned company.

 

[Ken Lally]

take a look:
http://www.chryslerllc.com/

I get the baby in the red (performance) and the brown (adventure) but what does the baby in the blue represent???

 

[Warfang]

I get the baby in the red (performance) and the brown (adventure) but what does the baby in the blue represent???

pampered luxury

 

[Warfang]

Does everyone remember when Lee Iaccoca took a salary of $1.00 a year. I do not remember where I read it by I would swear that China is in on the new deal. Don't quote me but I say it somewhere. And don't forget that D still owns like 20% of C. If I am right so much for an American owned company.

20% is acceptable. It's actually a good thing considering MB does have some good technologies to share and also, this will allow both companies to have more buying power as they can purchase same components as one.

Most publically traded companies are not technically 100% US owned either. If 1 share stock is owned by a foreigner... there goes your purity.

 

[Bill Pemberton Woodhouse]

China is working with Chrysler to produce a very small, fuel efficient car. The car is called the Chery ( yes, only one r ), and it is a relatively small company. Frankly it is more of a move from Chrysler to help this company grow as it is a small player.

 

[Warfang]

China is working with Chrysler to produce a very small, fuel efficient car. The car is called the Chery ( yes, only one r ), and it is a relatively small company. Frankly it is more of a move from Chrysler to help this company grow as it is a small player.

I believe the name is a tongue-in-cheek version of how a heavily accented Chinese person would say "Chevy".