Bye Bye Chrysler ?

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    Author Topic: Bye Bye Chrysler ?  (Read 1664 times)

    Offline Pistol Gripper

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    Bye Bye Chrysler ?
    « on: May 14, 2007 - 06:35:52 AM »
    Cerberus Capital Management LP  just bought 80.1 %  of Chrysler.  Anyone know if they can spell car ?

    http://news.yahoo.com/s/ap/20070514/ap_on_bi_ge/chrysler_cerberus

    P.G.
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    Offline Carlwalski

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    Re: Bye Bye Chrysler ?
    « Reply #1 on: May 14, 2007 - 06:41:22 AM »


    I'm not sure if this is good or bad? Is this basically swapping Mercedes/Daimler Benz for Cerberus?
    What IS Cerberus, like, what do they make/do? Will Chrysler still be called Chrysler?


    :dunno: :popcorn:
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    Offline Pistol Gripper

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    Re: Bye Bye Chrysler ?
    « Reply #2 on: May 14, 2007 - 07:09:54 AM »
    NZ,

    "Cerberus Capital Management LP is one of the largest private equity investment firms in USA. The firm is based in New York, N.Y., and 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."

    Sounds like car guys to you ?

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    Offline Carlwalski

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    Re: Bye Bye Chrysler ?
    « Reply #3 on: May 14, 2007 - 07:18:30 AM »


    Thanks Keith, they don't sound too bad too me. If they think they can turn DC around the right way and get sales up kudos to them! I wish them luck for the hobby & enthusiasts alike. I didn't realise DC was in that much strife.


    So, will Chrysler now be known as "CCs"? :biggrin:
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    Offline Pistol Gripper

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    Re: Bye Bye Chrysler ?
    « Reply #4 on: May 14, 2007 - 07:35:53 AM »
    Hmmm........

    C-C.com sounds like a good website to me.

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    Offline matt63

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    Re: Bye Bye Chrysler ?
    « Reply #5 on: May 14, 2007 - 07:39:24 AM »
    Cerberus....sounds like a pill for erectile disfunction.
     :'(
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    Offline Carlwalski

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    Re: Bye Bye Chrysler ?
    « Reply #6 on: May 14, 2007 - 07:46:43 AM »
    Quote from: matt63 on May 14, 2007 - 07:39:24 AM
    Cerberus....sounds like a pill for erectile disfunction.
     :'(

    I wouldn't know............... ;) :lol: :icon16:
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    Offline whitesatinmopar

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    Re: Bye Bye Chrysler ?
    « Reply #7 on: May 14, 2007 - 07:48:05 AM »
     :roflsmiley: Well, just maybe these new boys can "get it up and functioning" properly.  :smilielol:

    On the other hand, it sounds like if they don't see some good results, it may be a short term thing and the "Chrysler" firm will be on the sale block again.  :dunno:  Sounds like an all business for a quick buck investment..........?
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    Offline burnt orange

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    Re: Bye Bye Chrysler ?
    « Reply #8 on: May 14, 2007 - 08:32:33 AM »
    Sort of sounds like the AMF purchase of Harley Davidson.  AMF kept Harley alive (sorta) till it could be bought by bike guys again...maybe Cerberus will do the same.   :dunno:


    Some Harley history:

    "In 1967 the Harley-Davidson Company after several lean years was threatened by bankruptcy and accepted an offer to buy out the company by AMF (American Metal Foundries). This buyout ended sixty-two years of the private family owned company. AMF realized some of the problems the company had and decided that the way bring it back to the top was to produce large numbers of motorcycles quickly and cost-effectively. For the first time three letters appeared beside the Harley-Davidson name on the gasoline tanks, AMF. Harley was now trying to compete with the Japanese, which they could not do on their own ground, which was mass production. With the speeding up of the assembly line, it became apparent that the quality control which Harley had always been so concerned with was not deteriorating. As production increased there was a significant drop in quality. Since there was not enough space for working on this amount of machines, they were pushed through without adequate time or careful assembly. From this analysis, the only solution was to keep developing motorcycles that had built the company's success and legend, solidity, quality and reliability.

    In 1981 the Harley -Davidson executives who were disappointed with AMF decided they would try to buy the company. Because the company was considered to be beyond recovery, they were able to purchase it at a good price. After the buy, some critised AMF for not taking better care of the classic company. Harley-Davidson began its new beginning and reclaimed its good name.

    The people that ride Harley's have always supported the motorcycle and the company, even through the lean years when they did not agree with management of the company. There are Harley riders that believe that riding this brand of motorcycle is a way of life, which is the American way. There are several big events that take place every year that celebrate the glory of Harley-Davidson motorcycles. A lot of these events began as gatherings for all kinds of motorcycles but now have mostly Harley owners attending. There is the Daytona Bike Week and the Sturgis Rally in South Dakota, which regularly attracts over one hundred thousand participants."
     
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    nivvy

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    Re: Bye Bye Chrysler ?
    « Reply #9 on: May 14, 2007 - 08:45:53 AM »
    At least some GM or Ricer company dont own them!
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    Offline whitesatinmopar

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    Re: Bye Bye Chrysler ?
    « Reply #10 on: May 14, 2007 - 09:16:24 AM »
    So far the best news is that Chrysler is back into American hands / ownership  :2thumbs:   :wavingflag:
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    Offline jeryst

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    Re: Bye Bye Chrysler ?
    « Reply #11 on: May 14, 2007 - 10:03:31 AM »
    Could be a bad thing. These guys will be focused on only one thing: Making the company profitable. That means that they won't stick their neck out for new projects unless they know they will succeed. First thing they'll probably do is cut jobs and close plants. Then focus on the cars that are the most successful and making the most money. They're not "Car guys" they're "Bean counters", so risky, untried, specialty models may be the last thing they are going to support. Chrysler is already having a hard time finding plant capacity to build the Challenger, which is why they are only going to make 4000 units the first year. If capacity gets cut further, everything will be in doubt. I look for them to go in an entirely new direction, like alternative fuel vehicles, electric vehicles, etc. Chrysler is doing very little in those areas, and all of the other companies are pulling way ahead.
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    Offline HP2

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    Re: Bye Bye Chrysler ?
    « Reply #12 on: May 14, 2007 - 10:08:59 AM »
    Well, CCM is a hockey equipment manufacturer, so it ain't going to be that.

     
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    Offline Cuda Cody

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    Re: Bye Bye Chrysler ?
    « Reply #13 on: May 14, 2007 - 10:13:41 AM »
    This is a post from another board from one of our Viper Club national officers......

    "A friend of mine mentioned this: Cerberus bought out GMAC from GM some time ago. Chrysler's red ink is primarily mired in the huge health and retirement costs due to pensioners and staff. Chrysler Financial is in need of help also. A key "merger" between GMAC and Chrysler Financial might allow restructuring of debt and distribution of risk to a larger basis.

    Also note that "former Chrysler Chief Operating Officer Wolfgang Bernhard could get a board seat. Cerberus has retained Bernhard as an adviser." As one of SRT's biggest fans and the same for the Viper, this could very well be the best possible outcome. I know that when we were in Detroit ten days ago the moods were very upbeat among DCX management, including SRT."
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    Offline Rare_T_A

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    Re: Bye Bye Chrysler ?
    « Reply #14 on: May 14, 2007 - 10:14:20 AM »
    If they drop the Challenger it would be a large mistake. Look at Ford, about the only car or truck they are selling is the Mustang. I still believe if they build the Challenger they will sell. If they need to scale back they could do it to the Mag and Charger as I don't see them as a great sucess in sales.  :2cents:
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