Re: D.C Restructuring To Be Announced

From: dakotaviper (dakotaviper@yahoo.com)
Date: Sun Feb 25 2001 - 07:10:57 EST


Well, I guess the Cummins Turbo Diesel is gone then!

--- "Tom (Silver89)" <SilverEightynine@aol.com> wrote:
>
http://www.cars.com/carsapp/national/?szc=60622&srv=parser&act=display&tf=/news/national/storytemplate6.tmpl
>
>
>
> Posted Friday on Cars.com - - This is what I have
> feared the most....
> the total dissolving of whatever was left of the
> independant Chrysler
> company. Major parts sharing... etc... Chrysler
> will become a simple
> division.
>
>
> DaimlerChrysler Weighs Restructuring Plans
> Posted 02/23/01 9:29 a.m. CST
>
> By Hans Greimel
> Associated Press
>
> FRANKFURT, Germany — The supervisory board of
> DaimlerChrysler met Friday
> to weigh what are reportedly radical reforms at the
> automaker’s troubled
> Chrysler division and Mitsubishi affiliate.
> The official plans will be unveiled during a news
> conference Monday.
> DaimlerChrysler also is expected to detail
> Chrysler’s fourth-quarter
> losses that could double the $512 million loss from
> the previous
> quarter.
> The plans, which are reported to include as many as
> 8,000 layoffs at
> Mitsubishi, a management shakeup across
> DaimlerChrysler and a mandate
> for greater parts sharing between Chrysler,
> Mitsubishi and
> Mercedes-Benz, are expected to win approval Friday
> from the company’s
> 20-member non-executive supervisory board.
> DaimlerChrysler spokesman Michael Pfister has
> refused to give details of
> the makeover before Monday. As speculation swirled
> about the reform
> plans, investors sent DaimlerChrysler shares falling
> 3.29 percent to
> 52.90 euros ($48.14) in midday Frankfurt trading.
> DaimlerChrysler shares
> were trading at $48.11, down $1.84 on Wall Street
> Friday morning.
>
> DaimlerChrysler launched its restructuring plan last
> month, saying the
> plan would slash 26,000 jobs, or one-fifth of its
> work force at its
> U.S.-based Chrysler division, over the next three
> years and idle six
> Chrysler plants.
> Since then, German and Japanese news reports have
> said Mitsubishi, which
> is 34 percent owned by DaimlerChrysler, has come
> under pressure to
> eliminate thousands of workers worldwide, scrap
> several passenger car
> models and close one or two factories.
>
> DaimlerChrysler will also overhaul its management,
> introducing a new
> “executive automotive committee”. The group will
> oversee the
> Mercedes-Benz, Chrysler and commercial vehicle
> divisions, as well as its
> alliance with Mitsubishi, according to The Financial
> Times Deutschland.
> The committee, to be headed by chief executive
> Juergen Schrempp, would
> replace the current system of separate automotive,
> sales and marketing
> councils. It would also cement Schrempp’s power over
> the group, the
> newspaper said.
>
> Meanwhile, DaimlerChrysler’s supervisory board is
> expected to review
> plans to put Mercedes engines in some Chrysler
> models for the U.S.
> market, according to the Wall Street Journal Europe.
> That move would be
> a dramatic departure from the company’s long-held
> philosophy of keeping
> brands separate.
> While it could help the company squeeze extra
> savings and give the
> Chrysler brand a boost, critics worry it could
> dilute the Mercedes
> mystique — and make people less willing to pay more
> for a Mercedes when
> they can get similar quality from a lower-priced
> Chrysler.
>
>
> Copyright 2001 by Associated Press.
>
>
>
>
>
>
>
> --
>
-------------------------------------------------------------
> "She has a face that would make an onion cry"
>
> Tom S.
> http://members.aol.com/silvereightynine
> Site Updated - on 2/5/01
> 1989,V6,Auto,8 footer,4x2
> 1989,V6,Auto,8 footer,4x4 w/snowplow (woohoo!!)
>
>

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