February 14, 200719 yr Detroit Free Press DCX: No option is off the table February 14, 2007 While promising to address Chrysler Group’s losses and make it a healthier unit, parent company DaimlerChrysler AG vowed that no options would be ruled out. The statement was made in response to a report out of Handelsblatt, one of Germany’s leading business publications, said Chrysler Group spokesman Mike Aberlich. Advertisement Some German shareholders have demanded that DaimlerChrysler sell the Auburn Hills-based unit, though most U.S.-based industry analysts dismiss the idea as turning away opportunities for further cost-savings. “Now for the Chrysler Group: The tough competition and the adverse market conditions made it necessary to accelerate and expand the operational improvements implemented during the last years. “The recovery and transformation plan is designed to improve both: The cost position and the revenue side of the business, and we are therefore convinced that it will lead the Chrysler Group back to profitability. “In addition to that and in order to optimize and accelerate the presented plan, we are looking into further strategic options with partners beyond the business cooperation partners mentioned by (Chrysler Group CEO) Tom (LaSorda). “In this regard, we do not exclude any option in order to find the best solutions for both the Chrysler Group and DaimlerChrysler.” In a report to investors, Banc of America Securities analyst Ron Tadross said this morning that he would not be surprised if there was a good deal of interest in Chrysler. “We see Chrysler as a decent business, at least relative to other U.S. domestic manufacturers,” Tadross wrote in his report titled “Chrysler on the Table.” Tadross has neutral rating on DCX stock and a 12-month target of $58 a share on DCX stock. But he noted in his report Wednesday that DaimlerChrysler shares could be worth more than $80 a share – based on a sale of the Chrysler operations if Chrysler’s equity value is in the $5-billion range. “While such a disposition does not make long-term strategic sense to us,” he wrote, “we have generally underestimated high global financial liquidity and pressure on management teams to create short-term value.” Tadross said his target price is now under review. DaimlerChrysler Response to Query: Company Makes Statement Regarding Today’s Announcements Auburn Hills, Mich., Feb 14, 2007 - Today the Supervisory Board will reach a decision on the Board of Management’s decision to restructure the Chrysler Group. The Board of Management intends to consider other, more far-reaching strategic options with partners in order to support and facilitate the program. No option is being excluded in the interest of arriving at the best possible solution for the Chrysler Group and DaimlerChrysler as a whole.
February 14, 200719 yr Author Chrysler Seems To Be On The Block FORBES Oh no... I hope they dont get sold to Renault. Parmy Olson, 02.14.07, 11:20 AM ET The nine-year marriage between Germany's Daimler, maker of the luxury Mercedes-Benz automobiles, and its more downmarket American partner Chrysler was never a comfortable one. On Wednesday, to the enthusiastic response of investors, DaimlerChrysler implied that it might seek a divorce. Just prior to the main news conference announcing its 2006 results, DaimlerChrysler (nyse: DCX - news - people ) said in a statement in German on its Web site that "no option would be excluded in order to find the best solution for Chrysler Group and DaimlerChrysler." It then announced plans to cut 13,000 jobs at the American maker of Jeeps, trucks and sport utility vehicles, whose gas-guzzling lineup is increasingly out of step with the recently elevated cost of gasoline. After the announcement, DaimlerChrysler shares jumped $2.67, or 4.1%, to $67.12 in morning trading in New York. The gain followed an entreaty on Monday by one of DaimlerChrysler's shareholders, the German investment fund DWS, that it would be "irresponsible" of Daimler's management to exclude the option of selling Chrysler. DWS owns just under 1% of DaimlerChrysler. Although the Chrysler job cuts were several thousand more than expected, Daimler's earnings results for last year were largely in line with analysts' estimates. Earnings per share rose 13%, to 3.16 euros ($4.15), from 2.80 euros ($3.68) in 2005, while revenue was up 1%, at 151.6 billion euros ($199.2 billion). Net income was up 14%, to 3.2 billion euros ($4.2 billion), from 2.8 billion euros ($3.7 billion) in 2006. Chief Executive Dieter Zetsche said DaimlerChrysler was "looking into further strategic options with partners," to help it "optimize and accelerate" its restructuring plan. One possibility would be a tie-up with another overseas automaker that wanted to bolster its U.S. operations, and traders told Forbes.com that there was such speculation in the markets in recent days. But one fund manager (who did not wish to be named) said that Chrysler would be an "unattractive partner to anyone." If Daimler instead plans to spin off Chrysler as an independent company, it could have a hard time getting a good price, said Roman Mathyssek, Global Insight's senior automotive analyst. "Selling it is one thing. Getting something for it is another," said Mathyssek. (See: " An Independent Chrysler?") Daimler paid $37 billion for Chrysler when it acquired the company in 1998.
February 14, 200719 yr Chrysler Seems To Be On The Block FORBES Oh no... I hope they dont get sold to Renault. Parmy Olson, 02.14.07, 11:20 AM ET The nine-year marriage between Germany's Daimler, maker of the luxury Mercedes-Benz automobiles, and its more downmarket American partner Chrysler was never a comfortable one. On Wednesday, to the enthusiastic response of investors, DaimlerChrysler implied that it might seek a divorce. Just prior to the main news conference announcing its 2006 results, DaimlerChrysler (nyse: DCX - news - people ) said in a statement in German on its Web site that "no option would be excluded in order to find the best solution for Chrysler Group and DaimlerChrysler." It then announced plans to cut 13,000 jobs at the American maker of Jeeps, trucks and sport utility vehicles, whose gas-guzzling lineup is increasingly out of step with the recently elevated cost of gasoline. After the announcement, DaimlerChrysler shares jumped $2.67, or 4.1%, to $67.12 in morning trading in New York. The gain followed an entreaty on Monday by one of DaimlerChrysler's shareholders, the German investment fund DWS, that it would be "irresponsible" of Daimler's management to exclude the option of selling Chrysler. DWS owns just under 1% of DaimlerChrysler. Although the Chrysler job cuts were several thousand more than expected, Daimler's earnings results for last year were largely in line with analysts' estimates. Earnings per share rose 13%, to 3.16 euros ($4.15), from 2.80 euros ($3.68) in 2005, while revenue was up 1%, at 151.6 billion euros ($199.2 billion). Net income was up 14%, to 3.2 billion euros ($4.2 billion), from 2.8 billion euros ($3.7 billion) in 2006. Chief Executive Dieter Zetsche said DaimlerChrysler was "looking into further strategic options with partners," to help it "optimize and accelerate" its restructuring plan. One possibility would be a tie-up with another overseas automaker that wanted to bolster its U.S. operations, and traders told Forbes.com that there was such speculation in the markets in recent days. But one fund manager (who did not wish to be named) said that Chrysler would be an "unattractive partner to anyone." If Daimler instead plans to spin off Chrysler as an independent company, it could have a hard time getting a good price, said Roman Mathyssek, Global Insight's senior automotive analyst. "Selling it is one thing. Getting something for it is another," said Mathyssek. (See: " An Independent Chrysler?") Daimler paid $37 billion for Chrysler when it acquired the company in 1998. announce job cuts to make it easier to sell.
February 14, 200719 yr I don't want to see Chrysler get sold to another Foreign company, I'd rather it become it's own company again...but be able to keep the LX platform. That's the only real benifit of the merger I've seen since it happened.
February 14, 200719 yr I don't want to see Chrysler get sold to another Foreign company http://www.cheersandgears.com/forums/index...c=15519&hl= Mwahahahahahahahahahahahahahahah! :smilewide: :smilewide: :smilewide:
February 14, 200719 yr NO OPTION IS OFF THE TABLE (Including a play-mate party at Dr. Z's house with a soccer game of the babes following the stripping.) Edited February 14, 200719 yr by smallchevy
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