Word: daimler
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Dates: during 2000-2009
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Then they were out of sight. Now they are out of jobs. Although the deal that brought Daimler Benz and Chrysler together two years ago was presented as a grand "merger of equals," Schrempp never had any intention of letting Americans run Daimler. This month the DaimlerChrysler chairman decided they couldn't run Chrysler either. Schrempp fired Chrysler president James Holden and brought in a Mercedes veteran, Dieter Zetsche, after it was announced that the U.S. automaker had lost $512 million in the third quarter, its first loss since 1991--and, by all accounts, the first of several to come...
...Much of his comes through the executive "war room" near his office, where nuggets of intelligence about DaimlerChrysler's vast empire are constantly ingested and analyzed. But Holden had demanded and received complete autonomy when he took over Chrysler, and he used it to wall himself off from the Daimler side in Stuttgart...
...Lutz, chief engineer Francois Castaing and manufacturing whiz Dennis Pawley--into the Detroit sunset. The demands of the merger made things worse. Meetings, transatlantic travel and continued distrust over Schrempp's intentions distracted executives in Chrysler's Auburn Hills, Mich., headquarters. Chairman Bob Eaton, who had pushed for the Daimler merger, became increasingly detached from the company's operations--but not so much that he couldn't fire Chrysler president Tom Stallkamp last year. Schrempp may not have agreed with that move, but he didn't stop it either. Schrempp let Eaton choose Holden as Stallkamp's successor. "This...
...Daimler management regarded Holden as a bona fide member of Chrysler's dream team, one reason it granted him so much autonomy. In fact, Holden, a former vice president of sales and marketing, was viewed within and without Chrysler as a junior functionary in the automaker's success in the 1990s. Schrempp did not know it, but Holden's appointment had engendered tremendous resentment at Chrysler headquarters...
...Innovation most often occurs when ideas or things are brought together in a way that never happened before, and when such juxtaposition occurs, the result is greater than the sum of the parts. One and one make three. A late 19th century engineer, Wilhelm Maybach, working for Daimler, puts together the newly invented perfume spray with the newly discovered gasoline and comes up with the carburetor. In 1823 Scottish chemist Charles Macintosh, working with a throwaway coal tar by-product, naphtha (used to clean out dyeing vats), stumbles across the fact that it will liquefy rubber. So he spreads...