Welcome home, Chrysler!
Chrysler is once again an American automaker! DaimlerChrysler, which also owns Mercedes-Benz, has sold an 80.1% share of Chrysler Corporation to Cerberus Capital Management. The Germans will retain a 19.9% ownership stake in the new corporation, which will be known as Chrysler Corporation LLC.
Cerberus is a privately-owned New York firm that specializes in buying firms at or close to bankruptcy and turning them around. Since Cerberus is privately owned, the new Chrysler Corporation won't be beholden to shareholders, which should make things very interesting. Other Cerberus properties include the National and Alamo car rental firms, North American Bus Industries, Mervyn's Department Stores, Bushmaster Firearms and Remington Arms. They also own a majority stake in GMAC, which deals in automotive and dealership financing. -- Aaron Gold
Rebuild Crysler from the ground up…? [flashback to Lee Iacocca in the 80's]
It would be nice to see the company do well.
I think this is probably a big downfall for Chrysler. Coming back to American backing will mean poorer quality again and short cuts to save money. I think Chrysler is in for a spiraling down….sorry to say, since I own a Chrysler product!
I think that privately owned car company w/o pressures from shareholders will either improve mopar or destroy it. I can’t wait for the uaw talks this spring though. UAW thought it had it bad with GM and Ford let’s see how they can work with a singularly minded privately owned company with a need to trim fat of the calf?
I am so happy that Daimler finally got rid of the Chrysler Nightmare. A stupid plan from the beginning. This gives hope to Daimler that it will finally be able to invest its money in improving quality of Mercedes Cars instead of pouring it in the ever loss making Chrysler arm. As a daimler shareholder I am also very happy that this decision was made. I wish Chrysler well and Cerberus a lot of wishdom. They will need it and good luck with bringing back the outregous over USD 1000.= every car Chrysler Car bears of its health care and pension burden thanks to the unrealistic UAW. And UAW you thought Ford and GM were difficult, you ain’t seen nothing yet…..
Chrysler has been living a lie from Ioccoa for too long. They are a losing company with no hope in the futuer. Only the strong survive and that means Ford also with a death wish from Bill.
I think Chrysler can be successful.
Dear New Owners of Chrysler,
Focus on quality and trim the fat. You have a reputation to regain. Any smart organization looks to see what the competition is doing, and what the people want. Seek inspiration from industry leaders. For example: focus on the way Toyota and Honda do business and build cars. They have been very successful.
just my $0.02
-AndyS
To do well they must do three things:
1) Build Quality, Quality, Quality
2) Fuel Eficiency, Hybrid Systems
3) Get rid of the UAW
AMEN TO PAUL! (post #7)
[applause]
I vote for Paul to lead Chrysler into a bright new future.
Personally believe Chrysler will be dismantled and sold off piece by piece.
Now that Chryco is “American” again, watch its new “American” owners close down the last remaining “American” plants and reopen new ones in Mexico or China,etc!!!Gals and guys, we’re dealing with multi-national companies here. There is no national pride here. They will build the car wherever they can make the best bottom line…if that costs American jobs and Americans can no longer buy those cars, then they’ll close up their dealerships and sell their cars elsewhere. When it comes to the U.S. auto makers, this is where Don Imus should’ve used his favorite “h” word!
Chrysler forgot how to make a car that anyone with any degree of intelligence would want. Oh, that is also an apt description of Ford and GM. The sheer stupidity of management at all 3 is legend. Why do you think Honda and Toyota can come to this country, build production facilities and then kick the US automakers collective butts. I just finished renting a Cadillac STS for 3 days while on business, just to see what the “State of the Art” in terms of US automaking—what a piece of GARBAGE!
The car was brand new (2 miles) and by 10 miles the lower engine cover had fallen off and was dragging on the ground. Chrysler, Ford, GM — no differnece, they all SUCK (as in BIGTIME)!
Hey Aaron, you failed to mention that the Cerberus properties you mentioned: National and Alamo car rentals are in the process of being sold to Enterprise. Follow that trail and see where it leads you and then let me say “I Told You So!”.
chrysler would be on top if it was not for daimler, they dont know noting about the northamerican market, they dictate to chrysler what cars to built and when it does not sell they blame chrysler. dainmler only wanted a foot in the northamerican market. well thank God we got rid of them. now chrysler in a few years will be on top. i work for chrysler so i know what i am talking about
chrysler would be on top if it was not for daimler, they dont know noting about the northamerican market, they dictate to chrysler what cars to built and when it does not sell they blame chrysler. dainmler only wanted a foot in the northamerican market. well thank God we got rid of them. now chrysler in a few years will be on top. i work for chrysler so i know what i am talking about
chrysler would be on top if it was not for daimler, they dont know noting about the northamerican market, they dictate to chrysler what cars to built and when it does not sell they blame chrysler. dainmler only wanted a foot in the northamerican market. well thank God we got rid of them. now chrysler in a few years will be on top. i work for chrysler so i know what i am talking about
Derrick, keep on dreaming…. I used to work for Chrysler too, man was I happy the Germans came in and really showed how quality could be made. Pity UAW and the majority of the workforce hated it (now they finally hat to work and do something for the top dollar made) that by all means the Germans hat taken over them. One of them was that mad that he said “the jerry’s win the war after all”. I was proud to work for Chrysler and yes it is a better car then GM or Ford but it is still garbage compared to what the Japanese and Germans are building overhere. That is not wishfull thinking, that is a simple fact. I left Chrysler 3 years ago to work for a company in which quality is in its genes not in its mouth and now the biggest in the US. And I am damn proud of that we still can build top quality hot selling economic cars in the USA even though it is now the Toyota Badge on the hood….
Derrick, keep on dreaming…. I used to work for Chrysler too, man was I happy the Germans came in and really showed how quality could be made. Pity UAW and the majority of the workforce hated it (now they finally hat to work and do something for the top dollar made) that by all means the Germans hat taken over them. One of them was that mad that he said “the jerry’s win the war after all”. I was proud to work for Chrysler and yes it is a better car then GM or Ford but it is still garbage compared to what the Japanese and Germans are building overhere. That is not wishfull thinking, that is a simple fact. I left Chrysler 3 years ago to work for a company in which quality is in its genes not in its mouth and now the biggest in the US. And I am damn proud of that we still can build top quality hot selling economic cars in the USA even though it is now the Toyota Badge on the hood….
It will all depend on what Chrysler can work out with the UAW and all their legacy costs. If they can’t work out something there, I’m afraid it’ll be sold piece by piece.
Before I buy any new Chrysler product, I’ll want to see what kind of quality they’ll be putting out; I think it will go down after splitting up with Daimler.
I wonder how may Chrysler employees realize that Cerberus was the name of Satan’s dog, the 3-headed dog of Hades??
US management is stupid? Mercedes bought Chrysler for $36 billion, pumped in billions more, and now sells it for $7 billion.
Talk about misstakes. Toyota was doing well with high mileage cars so what do they do — the FT Cruiser and the Tundra. There newest vehicles get 12-15 miles per gallon. They are some of the biggest gas guzzlers going, rivaling the hummer. These two beasts more than offset all the gas saved by the Prius. Toyota pulled a fast one with the Prius, by the way, advertising it at a super mileage car that got 61 mpg, when in fact they knew it only got 44 mpg. They got lots of good press on that one, but a lot of suckers were left wondering why their cars didn’t get the advertised mileage.
try the 300M sweet ride
I have bought my last Chrysler! It has been in the repair shop 15 times. It has cost me more in time and being able to depend on the damn thing. So no matter what happens, I’ll look elsewhere for transportation.