"Old Chrysler" creditors sue Daimler
By BREE FOWLER (AP) – 1 day ago
http://www.google.com/hostednews/ap/article/ALeqM5i5Q0XnvaJLauS4rm5NsKXV...
NEW YORK — Chrysler LLC's creditors have filed a lawsuit against
Daimler AG charging that the German automaker unlawfully stripped
billions of dollars in assets from the U.S. carmaker before selling it
to a private equity firm.
German automaker unlawfully stripped billions of dollars in assets from the U.S. carmaker before selling it
By wolfman - Posted on August 19th, 2009
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...And FIAT's gonna build a factory in Mexico now...
How much of our money did Obummer give them again??
It's not like they were building cars that were selling anyway.
MikeyA
I've said for several years that it was Daimler that ran the company into the ground.
When they took over Chrysler, Chrysler was the hottest of the big three. They had around 8 billion in cash as a sort of "rainy day fund". The last year Chrysler independent we got profit sharing checks that averaged around $8000.00 gross. The next year after the takeover, it was a few hundred, and that was the last we saw of any profit.
Then after Daimler blew the 8 billion and ran the company into the ground, they basically blamed all the US management.
"We're all riding on the Hindenburg, no sense fighting over the window seats"-Richard Jenni
if they were the hottest of the big three, how was it that Daimler was able to get a foot in?
Billy at the time Bob Eaton was crowned CEO by Lee Iaccoca because Lee didn't like Bob Lutz who would have made a great manager. But Lee was jealous of Bob and behind his back he recruited Bob from GM in Europe. Bob worker at Chrysler for three (3) years and then cashed out with the "Merger of Equals" enriching himself to the tune of $69.9 million http://www.highbeam.com/doc/1P2-6640988.html. Bob thought that Chrysler needed an international presence but I think his wallet was doing the thinking. So the Germans pillaged the company ask any manager about how the Germans took advantage of Chrysler, they all have a story or two! So the Jeep workers suffer from the malfeasance of leadership. Jeepmaker you work hard for your money at Jeep do you think it fair that some Johnny-come-lately CEO can command such a buy out with just three years invested and you work for the company for thirty and these extremist bone heads think it alright to throw you out on the street with no retirement?
Statements made are the opinion of the writer who is exercising his first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and are generally permitted.
They had enough money, and Chrysler was a public company. How could you stop them? Buy the majority of a company's stock and you control it.
"We're all riding on the Hindenburg, no sense fighting over the window seats"-Richard Jenni
Actually Wolfman, I believe I read somewhere shortly after the merger that Eaton got more like 114 million from the merger. It's ridiculous, why would he care anything about the company afterwards, he's got enough money to live like a pharoh for the rest of his life.
Meanwhile, I have retired and there's folks who consider people like my self just a burden on the company that should be dumped like garbage.
"We're all riding on the Hindenburg, no sense fighting over the window seats"-Richard Jenni
Actually Wolfman, I believe I read somewhere shortly after the merger that Eaton got more like 114 million from the merger. It's ridiculous, why would he care anything about the company afterwards, he's got enough money to live like a pharoh for the rest of his life.
Meanwhile, I have retired and there's folks who consider people like my self just a burden on the company that should be dumped like garbage.
"We're all riding on the Hindenburg, no sense fighting over the window seats"-Richard Jenni
114 million for three (3) years work God that sounds fair! The weasel ruined Chrysler now as you said we got to listen to all these haters who think our retirement is obscene. Do you think your retirement would be safe if a Republican were in office?
Statements made are the opinion of the writer who is exercising his first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and are generally permitted.