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Im bringin flexy back!
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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?
 

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I got nothin'
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Is it just Chrysler, or did all of the "American" brands get sold (Jeep, Dodge, etc.)? Should be an interesting few months...
 

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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).
 

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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.
 

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Jack Lives Here!!!
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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? :D
 

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I got my jeep, I don't care what they do with it...as long as hard working americans don't loose their jobs. :cool:
 

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Jack Lives Here!!!
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I got my jeep, I don't care what they do with it...as long as hard working americans don't loose their jobs. :cool:
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.
 

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Jack Lives Here!!!
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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.
 

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Im bringin flexy back!
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Discussion Starter #16
can we get pool out money and buy jeep? Ill put 5 on it
 

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So...If we pool our money together and buy Jeep who will be in charge and who will do the work.:D

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).:D
 

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Jack Lives Here!!!
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7,760 Posts
So...If we pool our money together and buy Jeep who will be in charge and who will do the work.:D

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).:D
Yup, I'd say that would just about do it. :D
 

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Hell, I'd even throw in my first born.......er, no wait, she might get returned COD.:D
 
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