Word: chrysler
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Dates: during 1990-1999
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What is being highly acclaimed as a "merger" between Daimler-Benz and Chrysler [BUSINESS, May 18] is far more ominous. A close look reveals the disturbing truth. The new company will be incorporated in Germany. After a three-year transition period of co-chairmanship, a single chairman will take charge of the company. That chairman, you can wager, will come from Daimler-Benz. In short, Chrysler has been "bought" by Daimler-Benz. As a result, another great name in America's manufacturing history will gradually fade into oblivion. With only two American auto manufacturers left, we are at risk...
...METAPHOR] GATES: "It's like ordering Ford to sell autos fitted with Chrysler engines...
...lawsuit against Microsoft asks "that the plaintiff recover the costs of this action" -- in other words, that Bill Gates cough up for Klein's legal fees. But the AAG's point is well taken: When billion-dollar corporate lovefests like Travelers Group-Citicorp and Daimler Benz-Chrysler seem to take place every other day, and the responsible watchdog's budget has not been adjusted for inflation since 1993, it's time to pass the hat. Still, as anyone who has tried to navigate www.usdoj.gov/atr knows, the first thing Klein needs is a new webmaster. Perhaps Redmond could help...
Like most big German firms, Daimler has been content with profit margins of 2% or less (VW gets 1.2%), vs. Chrysler's 6.5% margin last year. One look at the numbers reveals volumes about the culture gap: last year Chrysler earned $2.8 billion producing 2.88 million vehicles with 121,000 workers, while Daimler-Benz earned $1.78 billion making 1.13 million vehicles on a payroll of 300,000. "Such a difference can lead to real conflicts in investments," warns one German auto executive...
KIRK KERKORIAN Billionaire raider sees his post-merger Chrysler stake treble to $5 billion. Gee, them that...