Kerkorian bids for Chrysler
Apr-10-2007
I guess it shouldn???t be too surprising that Kirk Kerkorian has put in a bid for Chrysler, given the history there.
As a major Chrysler shareholder Kerkorian took a hosing when the newly formed DaimlerChrysler share price headed relentlessly south.
He had plenty of money elsewhere but the devaluation of his Chrysler investment seemed to hurt. A failed legal challenge (that seemed to amount to a stamp of the feet and the cry, it???s just not fair!) earlier this decade underlined the unhappy truth that Kerkorian had little influence and few friends in Stuttgart.
His attention, along with that of his trusty first lieutenant Jerry York, eventually turned to GM. But that particular power play turned to custard last year when his attempt to broker a deal with Renault-Nissan failed.
The bloke will be ninety years of age next year. You might imagine he would perhaps lose the apparent fixation with Detroit. He has plenty of other stuff to occupy himself with, after all.
What are the motives in going for Chrysler? Maybe he sees a simple money making opportunity based on the share price. He and York may also genuinely believe they know what???s best for a US-based automaker such as Chrysler; Kerkorian the hard nosed moneyman, York the strategist with ideas. They certainly don???t lack conviction and maybe they also have a potential alliance partner in mind.
Would they relish the chance to finally take the helm at Chrysler? Just a bit. I suspect that for the two of them, it???s about more than just the money.
Kerkorian Makes $4.5B Offer for Chrysler
Apr-09-2007
"All of our options are still open. For us to talk about (Tracinda) is speculation"
Billionaire investor Kirk Kerkorian is making another bid for Chrysler, adding a new contender to the list of those vying to own the troubled automaker.
Kerkorian's Tracinda Corp., which tried to buy Chrysler in 1995 and lost out when the company merged with Daimler-Benz three years later, made a $4.5 billion cash offer Thursday for DaimlerChrysler AG's Chrysler Group.
Kerkorian's bid is slightly lower than at least one competing offer from Canadian auto-parts supplier Inc., worth a reported $4.7 billion. Two private equity groups have also expressed interest.
How Private Equity Could Save Chrysler
Apr-08-2007
Kirk Kerkorian desperately wants to buy an automaker. Five months after the 89-year-old deal maker sold a large stake in General Motors?after failing to pull off some major reforms he had sought?Kerkorian has offered $4.5 billion for the Chrysler Group, which parent company DaimlerChrysler has put on the block. If Kerkorian?or another private buyer?ends up owning Chrysler, it might be the best chance for turning around the No. 3 U.S. automaker. It could even revive Detroit.
Chrysler: 489 Fenton workers take buyouts
Apr-10-2007
As of April 5, a total of 489 employees at Chrysler Group's two Fenton, Mo., plants had accepted voluntary severance or retirement packages, DaimlerChrysler said Tuesday.
Chrysler buyout meetings reported
Apr-10-2007
A top DaimlerChrysler official is expected to meet this week with would-be buyers of the Chrysler group - although not with announced bidder Tracinda Corp., the investment company of Kirk Kerkorian, according to a report published online.
Chrysler Sebring launches in the UK in June
Apr-11-2007
The Chrysler Sebring launches in the UK in June, priced from GBP17,995 with a choice of two petrol and one diesel engines
Parks Motors wins national dealer recognition
Apr-10-2007
Parks Motors of Augusta received recognition as the No. 2 Chrysler Jeep Dodge dealer in the country at Chrysler's National Dealer of the Year meeting in March.
Daimler to see bidders but not Kerkorian: report
Apr-10-2007
NEW YORK (Reuters) - A top DaimlerChrysler AG executive is scheduled to meet in New York this week with bidders for the German auto maker's Chrysler unit but it appears that billionaire Kirk Kerkorian's Tracinda Corp. isn't among those on the invitation list, The Wall Street Journal reported.
Magna confirms Chrysler interest
Apr-13-2007
Canadian engineering firm Magna confirms it is examining the possibility of making a bid for US carmaker Chrysler.
Aspen Boasts "300M of SUVs" Status, and It Is Posted By : Brian White
Apr-14-2007
All new for 2007 is the Chrysler Aspen. Chrysler is trying to fill a unique niche with it, in that it's luxurious without all the price, big without all the size, and comfortable without being a land yacht. The total package didn't impress me too much until I saw the sticker. At that point I was pretty much sold.
Daimler to see bidders but not Kerkorian: report
(Reuters)
Apr-10-2007
Reuters - A top DaimlerChrysler AG (DCXGn.DE)
executive is scheduled to meet in New York this week with
bidders for the German auto maker's Chrysler unit but it
appears that billionaire Kirk Kerkorian's Tracinda Corp. isn't
among those on the invitation list, The Wall Street Journal
reported.
Zetsche confirms Chrysler sale talks
Apr-09-2007
"What'll happen if you don't find a bridegroom for Chrysler, or if they expect a dowry that's too high?"
confirmed for the first time Wednesday that it was in talks with "interested parties" about its struggling Group.
Four in pitched battle for storied automaker
Apr-10-2007
The fight for the Chrysler Group has begun in earnest,pitting some of the auto industry's top names against each other ina high-stakes contest that's too early to call.
Kirk Kerkorian, The Second Time Around
Apr-09-2007
Plastic::Work::Money: Kirk Kerkorian, the man who was once the largest single shareholder of Chrysler Corporation wants it back, and he's ready to pay $4.5 billion for it.
LeaseCompare and Carliquidators Team Up to Offer Consumers Special Lease Rates on 500 "Slightly Used" Chrysler Crossfires
Apr-10-2007
Marks the first time these cars, from a major daily rental company, are available to the public wholesale before being offered to car dealers [PRWEB Apr 4, 2007]
The Name Chevrolet
Apr-10-2007
Can you guess where Ford Motor Company got its name? I bet you can. How about Chevrolet? Pontiac? Chrysler?
The first part of a new series here on About will take...
US: Metaldyne axing 145 jobs
Apr-10-2007
A Metaldyne parts factory in eastern Indiana will cut 145 jobs by July after two contracts end with DaimlerChrysler.
Feds Investigate Land Rover Driveshaft Complaints, PT Cruiser Glass Problem
Apr-10-2007
The National Highway Traffic Safety Administration announced on its Web site that it has opened a preliminary investigation into complaints of driveshaft failures on some models from ...
Contract's end leads to Metaldyne job cuts in New Castle, Ind.
Apr-09-2007
The Metaldyne auto parts factory in this eastern Indiana city will cut 145 jobs by July after two contracts end with DaimlerChrysler AG.