Monday, May 14, 2007

Daimler Gives Chrysler Away

Daimler Gives Chrysler Away:
"DaimlerChrysler announced Cerberus will pay $7.4 billion for 80.1% of Chrysler, but as part of the deal, the German auto maker is injecting slightly more than that sum to cover Chrysler's outstanding debt and restructuring charges and recapitalize the weakened U.S. auto maker. 'Daimler actually paid a dowry to unload Chrysler—it took a $700 million hit on its balance sheet. That speaks volumes about the future they saw for Chrysler under their stewardship,' says Garel Rhys,"
Here, you take it, I don't want it, and let me pay you for the privilege of not owning an American car company.

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