Ain't Lookin' Good.....
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From: Frozen Northern Minnesota, Darn Close To Where Perma-Frost Begins...
Ain't Lookin' Good.....
Interesting article in Reuter's yesterday. This was just a brief quote in a long article.....
"Cerberus founder Stephen Feinberg, who bought Chrysler in a $7.4 billion deal with Daimler AG (DAIGn.DE: Quote, Profile, Research, Stock Buzz) last year, is eager to cut his exposure to the auto business and to increase his 51 percent stake in GMAC, people familiar with the talks with GM have said.
FROM BAD TO WORSE
One reason for Cerberus to press for a quick deal is that the private equity firm has effectively cut off investment on Chrysler's vehicle development beyond 2010, analysts said.
"Time will not be their friend," said Kimberly Rodriguez, a principal at Grant Thornton LLP, an advisory firm with a specialty in automotive restructuring.
Rodriguez estimated that 30,000 to 40,000 jobs could be lost if GM absorbs Chrysler and the smaller carmaker's supplier base would be decimated. "This is not a hit most could take," she said."
"Cerberus founder Stephen Feinberg, who bought Chrysler in a $7.4 billion deal with Daimler AG (DAIGn.DE: Quote, Profile, Research, Stock Buzz) last year, is eager to cut his exposure to the auto business and to increase his 51 percent stake in GMAC, people familiar with the talks with GM have said.
FROM BAD TO WORSE
One reason for Cerberus to press for a quick deal is that the private equity firm has effectively cut off investment on Chrysler's vehicle development beyond 2010, analysts said.
"Time will not be their friend," said Kimberly Rodriguez, a principal at Grant Thornton LLP, an advisory firm with a specialty in automotive restructuring.
Rodriguez estimated that 30,000 to 40,000 jobs could be lost if GM absorbs Chrysler and the smaller carmaker's supplier base would be decimated. "This is not a hit most could take," she said."
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Joined: Aug 2007
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From: Alberta
The Bullet is done , Chrysler will be next. Sounds like the Jeep name might survive a bit longer. Seems like a wiser decision to kill car production, and sell off the Ram truck division to someone who dosent have a HD line. (and package it with Jeep). Nissan is rumored to be interested in this kind of deal....It's gonna really suck hard for my children's children that they will have to choose between a Ferd and an Import...Bring back REO and Studebaker!!
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Joined: Jul 2005
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From: So Cal
Or, what will the residual value be now. I already recieved a letter from Chrysler saying they would negotiate my buy out if I was interested in keeping it. 
No Brian, you can't have my car when the lease is up.
This is going to be interesting to see how this plays out. It will suck for all who lose jobs out of it.
David
No Brian, you can't have my car when the lease is up.
This is going to be interesting to see how this plays out. It will suck for all who lose jobs out of it.
David
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Aug 5, 2005 05:50 PM