Stockholders representing more than one billion shares of Ford stock aren't waiting around to see what Kirk Kerkorian intends to do with Ford. They want to sell now, and small wonder: Kerkorian offered $8.50 per share, versus Ford's closing market price of $6.36 on June 9, when the tender offer...
Former DaimlerChrysler CEO Juergen Schrempp may have a hefty resume as a dealmaker, auto exec and corporate street fighter. But his credentials as a historian are in dispute. Last week, Schrempp was in a German court defending the deal that joined Daimler-Benz and...
FRANKFURT AFP — German automaker DaimlerChrysler is to be renamed simply Daimler AG on Thursday, reflecting the company's divestment of its troubled US unit Chrysler. Shareholders meeting in Berlin are expected to approve the new name despite some scepticism and the fact that Daimler will still own almost...
Chalk up another auto-related thumping for Kirk Kerkorian. Last week a federal appeals court unanimously upheld a Delaware federal court's 2005 decision that Kerkorian isn't entitled to the $1 billion in damages he sought from DaimlerChrysler. Kerkorian accused the company of misleading shareholders...
Dieter Zetsche will remain the corporate strongman at the new Daimler AG, continuing as both CEO and head of the Mercedes car group. The crown princes of the Mercedes car group, COO Rainer Schmueckle and sales and marketing chief Klaus Maier, have accepted Zetsche's...
History may haunt Juergen Schrempp, architect of the epoch-making merger of Daimler-Benz and Chrysler nine years ago. But his stock payoff from the sale of Chrysler to Cerberus Capital Management should get him through the long, lonely nights. Schrempp's "merger of equals'' was...
FRANKFURT AFP — Juergen Schrempp, the former head of DaimlerChrysler who masterminded the tie-up of the German and US auto makers nine years ago, stands to pocket up to 100 million euros (134 million dollars) from the break-up of the group, a newspaper reported on Monday. Schrempp could...
IRL DRIVER DARREN MANNING'S WORDS OF WISDOM "I think if you like qualifying around this place [Indianapolis Motor Speedway], you're going too slow.'' "They nowhere near speak proper English. [And] you should see some of the places they eat.'' ...
Byline: Jason Stein, Bradford Wernle Manfred Bischoff, likely to be confirmed as DaimlerChrysler's supervisory board chairman at the company's shareholder meeting Wednesday, April 4, takes his post in the midst of a major crisis. DaimlerChrysler has put its ailing Chrysler...
Byline: Bradford Wernle The German strategist who played a critical role in bringing Daimler-Benz AG and Chrysler Corp. together after the 1998 acquisition is now the point man in pulling that same deal apart. Sources say Ruediger Grube, DaimlerChrysler chief...
A German lawsuit alleges that DaimlerChrysler's handling of Schrempp has been scampy. A group of shareholders has sued DaimlerChrysler for $9.1 million, saying it sat on knowledge of former CEO Juergen Schrempp's resignation for 18 days. The suit came...
FRANKFURT AFP — German-US auto giant DaimlerChrysler has said it had reached an out-of-court settlement with insurers over a legal squabble surrounding some comments by the group's former chairman regarding the merger of Daimler and Chrysler in 1998. "There is a settlement," a DaimlerChrysler spokesman said Tuesday, confirming a corresponding...
Byline: Edward Lapham What is it about running a German luxury car company that makes industrialists want to acquire mass-market automakers as fixer-uppers? A smart aleck might wonder if it's a sense of noblesse oblige. Or maybe it's the desire...
When Alan Mulally got the top job at Ford last week, critics were quick to snipe about his lack of auto experience. They might look to Europe, where a soon-to-depart CEO has shown you don't have to have gasoline in your veins to run an auto company....
BERLIN -- DaimlerChrysler AG should be more profitable this year but still has work ahead to reinvigorate its marquee Mercedes-Benz product lineup, chief executive Dieter Zetsche said Wednesday. The world's fifth biggest automaker also will stick with struggling compact brand Smart, Zetsche said in his first appearance...
Missed the job - but got the car It helps to have friends in high places. Eckhard Cordes, who left his job as CEO of Mercedes Car Group last year when he was passed over for the top job at DaimlerChrysler, asked Dieter Zetsche...
Kerkorian's lawyer faces wiretap count Terry Christensen, billionaire investor Kirk Kerkorian's lawyer, has legal troubles of his own. Christensen, 65, was indicted by a federal grand jury in Los Angeles last week, charged with paying embattled star-snooper detective Anthony Pellicano $100,000 for ...
Byline: Mary Connelly Less than a month into his job as CEO of DaimlerChrysler AG, Dieter Zetsche is moving to unify the company - in effect, completing the 1998 merger initiated by his predecessor, Juergen Schrempp. Last week, Zetsche told...
FRANKFURT AFP — The scandal over possible insider trading at German-US auto giant DaimlerChrysler was back in the spotlight as investigators launched a probe to determine if Deutsche Bank supervisory board chief Hilmar Kopper might also be implicated. German prosecutors said they were trying to ascertain whether Kopper,...
BERLIN AFP — German-US auto giant DaimlerChrysler enters a new era in 2006 as its emblematic chief executive Juergen Schrempp officially makes way for Dieter Zetsche. Schrempp, 61, one of the highest-paid executives in Germany, is leaving his job three years earlier than planned and with a mixed...
Articles 2005-12-31
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