Word: german-american
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...economic slowdown now, a slowdown that has already turned into a recession in the manufacturing sector. And so when German-American carmaker DaimlerChrysler led Monday's business sections with the announcement that it would be cutting 26,000 jobs over three years, all on the money-losing Chrysler (American) side of the Atlantic, the Street sighed and sold the company's stock down $1.14 to $47 by noon...
...brass at DaimlerChrysler have finally decided to re-enter the world of stock-car racing. The German-American automaker will announce this week that it is offering a car with a Chrysler engine and a Dodge body to NASCAR teams. The old Chrysler Corp. dropped out of stock-car racing when the company slashed its motor-sports program in the 1970s in an effort to save money. It is no secret in Detroit that representatives from NASCAR have been wooing Dodge for years in hope that the addition of another big all-American nameplate will help make the Winston...
...brass at DaimlerChrysler have finally decided to reenter the world of stock car racing. The German-American automaker will announce this week that it is offering a car with a Chrysler engine and a Dodge body to NASCAR teams. The old Chrysler Corp. dropped out of stock car racing when the company slashed its motor-sports program in the 1970s in an effort to save money. It is no secret in Detroit that representatives from NASCAR have been wooing Dodge for years in hope that the addition of another big all-American nameplate will help make the Winston Cup series...
Still, the hint of a deal with Ford was enough to pull DaimlerChrysler closer to Nissan, and the German-American auto giant may still step in to save the Japanese. Even before CEO Juergen Schrempp inked a deal to acquire Chrysler Corp. for $37 billion last May, his Stuttgart brain trust was urging him to buy a controlling stake in Nissan Diesel. That would give Daimler, the world's largest commercial-truck producer, a solid foothold in Asia...
Schrempp and Eaton give themselves three years to integrate their new company. DaimlerChrysler has the ingredients of a good merger, but it won't be easy. The world is glutted with manufacturing capacity and doesn't need more cars--even fancy German-American ones. And the bottom line on big mergers is that they don't work. "Three years is not a very long term to integrate a culture," says Schrempp. "If we are really there after three years, then we really did a good job." And if not, Schrempp, not to mention thousands of global workers, will...