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...
We laughed, we cried, we shook our heads in amazement. This was quite a year: Daimler and Chrysler split; CAFE rules were reworked for the first time in decades; Toyota and General Motors scrambled for global sales leadership; and the fundamental relationship between the...
1953 Fire destroys General Motors' Hydra-matic plant in Livonia, Mich. 1954 Reduction of "phantom-freight'' charges 1955tie Senate hearings on auto trade practices; attainment of supplemental unemployment compensation by the UAW 1956 GM begins...
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...
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,...
Byline: Bradford Wernle Wolfgang Bernhard is close to being appointed board chairman of the new Chrysler, says a source with knowledge of the Chrysler group's pending acquisition by Cerberus Capital Management LP. Cerberus is ironing out specifics...
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...
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.'' ...
Auto allies propose CAFE opt-out WASHINGTON - Automakers that commit to power all their vehicles with advanced fuel-saving technology or alternative fuels by 2020 would be excused from tougher fuel economy standards, under a package of proposals made late last...
Byline: KEITH CRAIN It wasn't a marriage made in heaven. In fact, German investors learned how to lose tens of billions of dollars in less than 10 years. And it cost them only $700 million more at the end to be...
Fiat should have accepted an offer from DaimlerChrysler to buy its auto division seven years ago. That's the view of former Fiat Chairman Paolo Fresco, who is quoted in Agnelli, a new book by French journalist Pierre de Gasquet. The...
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...
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...
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. ...
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...
It would be easy to blame Joe Eberhardt for all of the Chrysler group's problems. Certainly the former global sales, marketing and service chief played a big role in creating the ineffective incentive programs that failed to reduce swollen inventories and the heavy-handed ...
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...
Byline: Harald Hamprecht It has been a full year since Dieter Zetsche took over as head of the Mercedes Car Group and nine months since he became head of Mercedes' parent company, DaimlerChrysler AG. There has never...
Articles 2006-09-25
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