1) DCX has been considering closing the Newark DE plant for over a year and
announced it officially in February.
2) There is little chance that DCX will sell Chrysler group to GM because
(A) GM doesn't have the cash and would have to make it an all stock deal.
DCX shareholders do not want GM shares.
3) Canadian parts maker Magna, which builds cars under contract for BMW in
Austria, is probably the likeliest buyer, but DCX could be using the
possibility of a sale as leverage for its UAW contract negations over the
summer (the contract expires in September for the Big Three). The UAW has
been unwilling to give DCX the same concessions as it has given GM and Ford
because it believes Daimler's deep pockets can and will pay any price to
keep the assembly lines rolling.
----- Original Message -----
From: "Ray Irons" <rayirons@sbcglobal.net>
To: <dakota-truck@dakota-truck.net>
Sent: Sunday, March 18, 2007 12:14 AM
Subject: DML: Please tell me I'm dreaming!
>
> Just saw this online in a local Delaware Newspaper. I
> happen to keep tabs on it cause, I use to work at the
> GM plant in Wilmington, close to where Dodge made the
> Durango. When I read the last paragraph, I thought I
> was gonna be sick!!!!! I can;t imagine Damn Near
> Chrysler becoming part of Garbage Motors!!!!!
>
>
> Ray
>
>
> DaimlerChrysler board member opposes Chrysler breakup
> Associated Press
>
> Posted Saturday, March 17, 2007 at 10:09 pm
> AUBURN HILLS, Mich. -- A member of DaimlerChrysler
> AG's supervisory board said he would oppose a deal
> leading to a breakup of the Chrysler Group, the
> company's troubled U.S. arm.
>
> Helmut Lense, one of the 10 employee representatives
> on DaimlerChrysler's 20-member supervisory board, told
> The Detroit News that he would prefer to see a
> manufacturing company, such as another automaker, take
> control of Chrysler in the event of a sale, the
> newspaper reported Saturday.
>
> ''We wouldn't support a solution such as a private
> equity firm that would cut out choice bits,'' said
> Lense, chief employee representative of a plant in
> Stuttgart that builds engines, suspensions and
> transmissions.
>
> The core functions of the supervisory board include
> the monitoring of executive management and the
> approval of important corporate decisions.
>
> DaimlerChrysler Chief Executive Dieter Zetsche first
> floated the idea of a Chrysler sale. On Feb. 14, he
> said that all options were open for the U.S.
> operations and he would not rule out a sale.
>
> But Zetsche has said that it also is possible that
> Chrysler could remain part of the German company.
>
> General Motors Corp., Canadian auto parts maker Magna
> International Inc. and several private equity firms
> all reportedly have looked into buying all or part of
> Chrysler.
>
>
>
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