This morning I heard on a business news show (radio) that Chrysler will probably go out of business. Another company will buy their Jeep and Mini-Van line.
But then I also read in Car and Driver that Chrysler will quit making the PT Cruiser in mid-2008.
I believe they quit making ONLY the PT convertible.
A lot of people are saying a lot of things about Chrysler. Since Cerebus is privately held they stopped reporting ANY financials publically after they bought the last bit of Chrysler from Damlier. Thus, nobody knows if Chrysler is even in the red at all - they could be wildly profitable for all we know.
Ted
snipped-for-privacy@f40g2000pri.googlegroups.com...
That's not what they're saying publicly, in trying to get a loan from Congress. Further, you can look at Daimler's annual report and see what Chrysler's profits or losses were in the previous year, as Daimler still owns 19.9% and as a public company, reports this data.
That's the story for sure. A few days ago Chrysler said they would very soon run out of cash. Yet a few months ago GM wanted to take over Chrysler to get at a reported $11B cash in hand. Only the Cerberus bean counters know.
One thing we do know, car sales for all manufacturers have crashed this fall.
No, you can extrapolate this data - Daimler and Cerebus disagree on how profitable Chrysler is - which is understandable since Cerebus has been trying to buy that last 19% since September.
Ted
Uh-uh. Daimler has been trying to sell it, but Ceberus won't buy it.
"German automaker Daimler said yesterday that the sale of its remaining stake in Chrysler has been complicated by the "exaggerated demands" of Cerberus Capital Management.
The price tags Cerberus put on Daimlers' 19.9 percent stake in Chrysler "exceed the value of Cerberus' investment in Chrysler," an
80.1 percent stake purchased for $7.2 billion last year, Daimler said in a statement yesterday.""Cerberus had been looking to acquire the remainder of Chrysler from Daimler in order to simplify a potential sale of Chrysler, people familiar with the talks have said."
That doesn't exactly track with "Cerberus has been looking to ACQUIRE the remainder of Chrysler FROM DAIMLER...." which you state below.
Not that any of this is crystal clear even with the best explanations... but it does look like Cerberus wants to buy. Just not at the price Daimler wants to sell... yet Daimler accuses Cerberus of over-valuing the company.
WTF?!?!?
I'ts kind of like watching 2 naked women both in bathrobes who ran out of their houses in the morning to get the morning paper and upon discovering only 1 paper was delivered, are now both plaing tug-of-war with it, while at the same time trying to keep the bathrobes from falling off.
Ted
Which would be highly interesting... except that they both look more like Roseanne Barr than Jennifer Aniston.... x^p
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