Chrysler buyout announced - Jeep Wrangler Forum
Jeep Wrangler Forum

Go Back   Jeep Wrangler Forum > General Jeep Discussions > General Jeep Discussion

Join Wrangler Forum Today


Reply
 
Thread Tools

Please support our sponsors and let them know you heard about them on WranglerForum.com
Old 05-14-2007, 07:19 AM   #1
Im bringin flexy back!
 
deverhart's Avatar
 
Join Date: Apr 2005
Posts: 678
Chrysler buyout announced

It was announced this morning that Daimler Chrysler has agreed to a buyout offer to take Chrysler private and back to the US. Chrysler will be acquired by Cerberus Capitol Management for a whopping 7.4 billion dollars. The company will be known going forward as Chrysler Holdings, and Daimler will go back to Daimler AG.

What ya think?

__________________
"Holy Cow.. You cats are harsh.. They banned our fricken President..!!! LOL" -Tokenh3
deverhart is offline   Quote Quick Reply
Old 05-14-2007, 07:22 AM   #2
Jeeper
 
Odhinn's Avatar
 
Join Date: Aug 2006
Posts: 2,147
I'm always a bit on edge when a buyout happens. Only time will tell.

__________________
Recently returned from the Jeep Dead.
and
Proud daddy to a New baby Jeep Girl.
Odhinn is offline   Quote Quick Reply
Old 05-14-2007, 07:40 AM   #3
I got nothin'

WF Lifetime Member
 
jeeperman's Avatar
 
Join Date: Apr 2005
Location: Michigan
Posts: 1,896
Is it just Chrysler, or did all of the "American" brands get sold (Jeep, Dodge, etc.)? Should be an interesting few months...
__________________
Quote:
Originally Posted by Scout View Post
I like "prick".

Go ahead...quote me on that.
"Hold my beer while I kiss your girlfriend... you have to be good for something"

--Aaron Pritchett

If you have to ask what it is or what it does, you don't need it, and you will need help to install it!
jeeperman is offline   Quote Quick Reply
Old 05-14-2007, 07:43 AM   #4
Jeeper
 
nicolas-eric's Avatar
 
Join Date: Jan 2007
Location: Hamburg, Germany
Posts: 5,877
Send a message via ICQ to nicolas-eric Send a message via AIM to nicolas-eric Send a message via MSN to nicolas-eric Send a message via Yahoo to nicolas-eric
Cerberus (in greek: Kerberos): That is the name of the "Hell Dog" in the greek mythology that guards the entrance to the "Hades". The "Hades" is the underword, the place of the dead.

I don´t know if that´s a good sign for Jeeps future...




http://money.cnn.com/2007/05/14/news...ion=2007051406
nicolas-eric is offline   Quote Quick Reply
Old 05-14-2007, 09:51 AM   #5
Jeeper
 
stabs05's Avatar
 
Join Date: Apr 2007
Location: Exton, PA
Posts: 182
Send a message via AIM to stabs05
This should be interesting to say the least. Hopefully Cerberus doesn't end up destroying the Jeep brand (or the Dodge brand for that matter).
stabs05 is offline   Quote Quick Reply
Old 05-14-2007, 11:02 AM   #6
Jeeper
 
Rawkon's Avatar
 
Join Date: Apr 2005
Location: fullerton/big bear
Posts: 2,061
Send a message via AIM to Rawkon Send a message via MSN to Rawkon
run by 47-year-old financier Steve Feinberg. Former Vice President Dan Quayle has been a prominent Cerberus spokesperson and runs one of its international units.

Founded in 1992, Cerberus invests primarily in companies which are near bankruptcy and hopes to make the businesses it acquires profitable.

The company has been a voracious acquirer of businesses over the past several years and now includes sizeable investments in sportswear, paper products, military services, real estate, energy, retail, glassmaking, transportation, and building products. Its holdings amounted to $24 billion in 2006.

On October 19, 2006, John W. Snow, President George W. Bush's second United States Secretary of the Treasury, was named chairman of Cerberus.

Cerberus was recently involved in controversy surrounding its contributions to Republican Congressman Jerry Lewis. MCI, a company owned by Cerberus, had a $1 billion dollar contract to create the Navy/Marine computer network. However, the Defense Appropriations subcommittee released a critical report of MCI after receiving complaints about cost overruns and bad management. In response to this report, the committee had proposed to cut the MCI contract by 10%. In June 2003, Lewis, the head of the Defense Appropriations subcommittee, received over $110,000 dollars in contribution from Cerberus. Shortly thereafter, Lewis decided to preserve full funding for the $1 billion dollar contract. In 2005, Lewis was elected as Chairman of the House Appropriations Committee. He acknowledged that the fundraising efforts of Cerberus "played a very significant role" in winning the post. Before her dismissal, US Attorney Carol Lam began an investigation of Lewis's contributors in 2006. [1]

On May 14, 2007, Cerberus aquired an 80% share of Daimler's Chrysler Division for $7.4B. In 1998, Daimler purchased Chrysler Corporation for $37B, which means the 80% share was sold by Daimler at a 75% loss.
Rawkon is offline   Quote Quick Reply
Old 05-14-2007, 03:01 PM   #7
Drives by Braille

WF Supporting Member
 
AzTJ's Avatar
 
Join Date: Dec 2006
Location: For-8-Oh!
Posts: 13,621
I think its a good deal. Chrysler can now do what it wants without Benz telling what to do.

http://www.allpar.com/weblogs/2007/0...-sold-now-what
AzTJ is offline   Quote Quick Reply
Old 05-14-2007, 03:44 PM   #8
Jeeper
 
JeepGuyLJ's Avatar
 
Join Date: Mar 2006
Location: Van Nuys, CA
Posts: 480
WOW! they finally sold it, lets see whats going to happen to jeep.
JeepGuyLJ is offline   Quote Quick Reply
Old 05-14-2007, 03:50 PM   #9
Jack Lives Here!!!

WF Supporting Member
 
1BLKJP's Avatar
 
Join Date: Apr 2005
Location: Phoenix, AZ
Posts: 7,764
I personally think this is a better deal than if they'd have been bought by that Canadian company that was also in the bidding. There's something to be said about a company being private. Yeah you don't know as true a picture of how they are doing, but they also don't have the watch dogs and activists buzzing their tower every 5 seconds.

What I read today said that Snow is happy with the plan that Chrysler USA has put in place and wants to give them the freedom to see it thru. Jeep won't be going anywhere. The Jeep line was what gave them a month over month sales increase this year. Why kick out the kid that's getting an A?
__________________
Thanks,
Jack Hickman

President - Arizona Off-Highway Vehicle Coalition
Vice-President - ASA4WDC
Arizona Rock Rats
1BLKJP is offline   Quote Quick Reply
Old 05-14-2007, 04:43 PM   #10
Jeeper
 
Vector6's Avatar
 
Join Date: Jan 2006
Location: Morgantown,WV
Posts: 1,025
Talking

Quote:
Originally Posted by nicolas-eric View Post
Cerberus (in greek: Kerberos): That is the name of the "Hell Dog" in the greek mythology that guards the entrance to the "Hades". The "Hades" is the underword, the place of the dead.

I don´t know if that´s a good sign for Jeeps future...
http://money.cnn.com/2007/05/14/news...ion=2007051406


__________________
USN 1985-1993
Vector6 is offline   Quote Quick Reply
Old 05-14-2007, 04:46 PM   #11
Jeeper
 
nicolas-eric's Avatar
 
Join Date: Jan 2007
Location: Hamburg, Germany
Posts: 5,877
Send a message via ICQ to nicolas-eric Send a message via AIM to nicolas-eric Send a message via MSN to nicolas-eric Send a message via Yahoo to nicolas-eric
nicolas-eric is offline   Quote Quick Reply
Old 05-14-2007, 07:48 PM   #12
Jeeper
 
kg4kpg's Avatar
 
Join Date: Jun 2006
Location: Summerville, SC
Posts: 2,761
Send a message via Yahoo to kg4kpg
I got my jeep, I don't care what they do with it...as long as hard working americans don't loose their jobs.
__________________
http://i37.photobucket.com/albums/e96/kg4kpg/f712f48bae526a2b13f30e6601f3433d_zps089056bf.jpg
kg4kpg is offline   Quote Quick Reply
Old 05-14-2007, 10:58 PM   #13
Jack Lives Here!!!

WF Supporting Member
 
1BLKJP's Avatar
 
Join Date: Apr 2005
Location: Phoenix, AZ
Posts: 7,764
Quote:
Originally Posted by kg4kpg View Post
I got my jeep, I don't care what they do with it...as long as hard working americans don't loose their jobs.
It's a already a little late for that. Chrysler has plans to cut another 13k jobs and reduce shifts at some plants. You can thank the unions for that again.
__________________
Thanks,
Jack Hickman

President - Arizona Off-Highway Vehicle Coalition
Vice-President - ASA4WDC
Arizona Rock Rats
1BLKJP is offline   Quote Quick Reply
Old 05-15-2007, 09:00 AM   #14
Jeeper
 
erickpl's Avatar
 
Join Date: Jan 2007
Location: Alabama
Posts: 2,305
Send a message via AIM to erickpl
Forget any MB diesels in a Jeep anytime soon.
erickpl is offline   Quote Quick Reply
Old 05-15-2007, 04:38 PM   #15
Jack Lives Here!!!

WF Supporting Member
 
1BLKJP's Avatar
 
Join Date: Apr 2005
Location: Phoenix, AZ
Posts: 7,764
Some of the buzz that I've been seeing on the ol interweb is saying they think that Jeep could easily be sold off for quite a tidy profit considering they are self contained in one plant and that we don't really seem to fit into Chrysler's plans at the moment.

I'm not so sure on that one, but Cerberus would make some change off of selling that brand new plant.
__________________
Thanks,
Jack Hickman

President - Arizona Off-Highway Vehicle Coalition
Vice-President - ASA4WDC
Arizona Rock Rats
1BLKJP is offline   Quote Quick Reply
Old 05-15-2007, 04:41 PM   #16
Im bringin flexy back!
 
deverhart's Avatar
 
Join Date: Apr 2005
Posts: 678
can we get pool out money and buy jeep? Ill put 5 on it
__________________
"Holy Cow.. You cats are harsh.. They banned our fricken President..!!! LOL" -Tokenh3
deverhart is offline   Quote Quick Reply
Old 05-15-2007, 04:47 PM   #17
Jack Lives Here!!!

WF Supporting Member
 
1BLKJP's Avatar
 
Join Date: Apr 2005
Location: Phoenix, AZ
Posts: 7,764
Quote:
Originally Posted by Deverhart View Post
can we get pool out money and buy jeep? Ill put 5 on it
I'm in for a Benjamin.
__________________
Thanks,
Jack Hickman

President - Arizona Off-Highway Vehicle Coalition
Vice-President - ASA4WDC
Arizona Rock Rats
1BLKJP is offline   Quote Quick Reply
Old 05-16-2007, 05:15 AM   #18
Jeeper
 
Odhinn's Avatar
 
Join Date: Aug 2006
Posts: 2,147
So...If we pool our money together and buy Jeep who will be in charge and who will do the work.

I can see it now.

The new WRANGLER designed and built by Jeepers. Stock with a 5.9 Cummins diesel, Long arm suspension, front and rear dana 60's locked, a HVAC the blows out the correct vents when set, and a suspension assist cup holder (to prevent those ugly accidents when in the middle of nowhere).
__________________
Recently returned from the Jeep Dead.
and
Proud daddy to a New baby Jeep Girl.
Odhinn is offline   Quote Quick Reply
Old 05-16-2007, 12:26 PM   #19
Jack Lives Here!!!

WF Supporting Member
 
1BLKJP's Avatar
 
Join Date: Apr 2005
Location: Phoenix, AZ
Posts: 7,764
Quote:
Originally Posted by Odhinn View Post
So...If we pool our money together and buy Jeep who will be in charge and who will do the work.

I can see it now.

The new WRANGLER designed and built by Jeepers. Stock with a 5.9 Cummins diesel, Long arm suspension, front and rear dana 60's locked, a HVAC the blows out the correct vents when set, and a suspension assist cup holder (to prevent those ugly accidents when in the middle of nowhere).
Yup, I'd say that would just about do it.
__________________
Thanks,
Jack Hickman

President - Arizona Off-Highway Vehicle Coalition
Vice-President - ASA4WDC
Arizona Rock Rats
1BLKJP is offline   Quote Quick Reply
Old 05-16-2007, 12:37 PM   #20
Jeeper
 
kg4kpg's Avatar
 
Join Date: Jun 2006
Location: Summerville, SC
Posts: 2,761
Send a message via Yahoo to kg4kpg
Hell, I'd even throw in my first born.......er, no wait, she might get returned COD.
__________________
http://i37.photobucket.com/albums/e96/kg4kpg/f712f48bae526a2b13f30e6601f3433d_zps089056bf.jpg
kg4kpg is offline   Quote Quick Reply
Old 05-16-2007, 02:21 PM   #21
Jeeper
 
Badge1236's Avatar
 
Join Date: Jan 2007
Location: SW Michigan
Posts: 450
Count me in for $10. For $20 bucks how could they refuse. We will offer them $10 at first then we have room to dicker. From what I heard one of the conditions of the sale was that it would not be parcelled out so I would be surprised to see the Jeep brand getting sold right away. Maybe a year down the road.

__________________
1978 CJ7, frame off rebuild, NV3550, Dana 300(twin stick with a sight tube), I6(258), Dana 44 Scout Axles with 4.09 gears, truetrac LSD. The rest yet to be decided.
Badge1236 is offline   Quote Quick Reply
Reply

Quick Reply
Message:
Options

Register Now

In order to be able to post messages on the Jeep Wrangler Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
User Name:
If you do not want to register, fill this field only and the name will be used as user name for your post.
Password
Please enter a password for your user account. Note that passwords are case-sensitive.
Password:
Confirm Password:
Email Address
Please enter a valid email address for yourself.
Email Address:

Log-in

Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.



Thread Tools

Posting Rules
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
NEW Wrangler announced! Good? or bad? tobycat1 General Jeep Discussion 43 10-03-2008 06:06 PM
Lifetime Warranty disclaimers... rx4pain JK General Discussion Forum 25 07-27-2008 10:46 PM
V8 or Diesel mswilder JK Tech Forum 24 10-19-2007 08:12 PM
GM to buy Chrysler? FuzzyDolly Off-Topic 13 02-17-2007 08:24 PM
Macromedia Chrysler advertisement bluvikng General Jeep Discussion 5 12-20-2006 08:28 PM



» Featured Product

All times are GMT -5. The time now is 03:42 PM.



Jeep, Wrangler, Liberty, Wagoneer, Cherokee, and Grand Cherokee are copyrighted and trademarked to Chrysler Motors LLC.
Wranglerforum.com is not in any way associated with the Chrysler Motors LLC