Chrysler

[Satch]

Rumours in the market this morning that Chrysler will file for Chapter 11 protection any time now. Since they are no longer a public company no need to file accounts or reports but you can tell how it is going from the actions of minority stakeholders.

Thus Mercedes yesterday announced it has written off its remaining stake in Chrysler to zero.

That is from $268m at 30 June 2008

(Not that long ago MB valued its remaining stake in Chrysler at $2.2 billion.)

 

[wemorgan]

A sad day for the employees, but I can't think of any Chrysler I'd like to own.

 

[bigyin1]

crumbs.... i think this is just the beginning of the car makers going under, more to follow...

 

[W210 Fan]

A sad day for the employees, but I can't think of any Chrysler I'd like to own.

crumbs.... i think this is just the beginning of the car makers going under, more to follow...

yes its sad for the empoyees, but how can a manufacturing company, or any company expect to survive when they produce tosh? to get to this stage their figures must have been falling for a while and rather than doing anything about it they have sat there with their heads in the sand, seen it in other companies I have been involved in, managments bad decision making affecting the day to day lives of the employees, made a note to myself when I company I worked at went under which was never to work for an engineering firm that was run by an accountant,

 

[wemorgan]

made a note to myself when I company I worked at went under which was never to work for an engineering firm that was run by an accountant,

I can second that. I'm lucky where I am now as all managers and directors are engineers. the staff appreciate that and I believe the customers too.

 

[Crazyjester900]

i do photographic work for MB Australia and they have closed down and made redundant each state specific marketing team and centralized one team for Australia, This world money crap is hurting everyone!!

not good.

 

[hawk20]

Sources familiar say Nissan were offered Chrysler but said not if they had to pay for it.

Remember MB paid Cerberus to take it.

Some are harsh about its products but the Jeep and Grand Cherokee ranges have been a worldwide success as has the 300c recently.

Their main problem is that past staff on pensions and healthcare benefits exceed the current number of staff employed and nobody seems able to do a deal with the Unions. I think this is the main reason MB sold out.

BTW Ford and GM are very close to the edge.

 

[Bobby Dazzler]

It would be a shame to lose Jeep, although maybe another brand-poor may snap it up, like the Nanjing/SAIC, et al.

 

[VB123]

Chrysler has been here before, more than once............... IIRC the US gov bailed them out last time.

 

[neilrr]

Is Lee Iacocca still alive?

 

[W210 Fan]

I can second that. I'm lucky where I am now as all managers and directors are engineers. the staff appreciate that and I believe the customers too.

Yes, I believe the decisions are made with better logic, for an engineering firm anyway

 

[miro]

i do photographic work for MB Australia and they have closed down and made redundant each state specific marketing team and centralized one team for Australia, This world money crap is hurting everyone!!

not good.

Why does Australia need more than one team for media coverage ? It has nothing to do with the money shortage .... it was silly from day one. Now they have an excuse to purge.

 

[Satch]

Is Lee Iacocca still alive?

Ask him!

http://www.leeiacocca.com/

 

[hawk20]

Now looks like GM and Chrysler may merge but Cerberus want to keep the car financing side (always the most profitable part of the car business): -
http://dealbook.blogs.nytimes.com/2....mc_ev=click&WT.mc_id=DB-S-E-GG-NA-S-chrysler