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It's official - Cerberus buys Chrysler - READ ONLY

241 messages,  Last post on Sep 22, 2007 at 1:28 PM

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#232 of 241 Bingo steve! by iluvmysephia1

Sep 08, 2007 (10:59 pm)

Great story on Cerberus grabbing another hot automaking talent and the possible linkage of his hiring to the Chinese market. Mr.Murtaugh may indeed work with Chery on the Hornet...since the SAIC link has been cut as well as the link to GM then that leaves Chery building the Hornet for Dodge. Mr.Murtaugh is now building Dodge's and Chrysler's! What an acquisition!
 
Cerberus has not only bought Chrysler but they're buying some proven top talent to bring Chrysler around....quickly. Both of these new guys will fit right in to Cerberus' quick results plan. Even if Cerberus were to sell out to a Chinese carmaker these two will be excellent leaders for the Chinese company and make the sale of Chrysler worth more to Cerberus as a result of their hiring.
 
We knew these boys meant serious business and now we have some visible evidence of just that. Serious carmaking business going on here.

#233 of 241 Re: Bingo steve! [iluvmysephia1] by davethecarnut

Sep 09, 2007 (9:53 am)

Replying to: iluvmysephia1 (Sep 08, 2007 10:59 pm)
Very interesting, the China Connection. But do you guys think Cerberus can do a "quick" sale to a chinese company? How quickly do you think americans will embrace a chinese Chrysler?
Press had his work cut out for him in the 70's with this japanese company on our shores. But let's face it, Toyotas sold themselves with their quality and reliability in the late 80's to today. He just had to "kick-back" and maybe come up with a few entertaining commercials and promotions every now and then. No offense to Press personally, but what makes him a such a genius (Real question. I can accept to be put in my place)?
Will Press stick around for the next 10 to 15 years to make this new "chinese company" a success in America? He is 60 years old. Of course, there are plenty of people working into their late 70's.
Equity firms and hedge funds like the quick turn-around, but Chrysler is going to be a long term investment, in my opinion. I hope Cerberus is up to that.
Also, with Nardelli on board, will Chrysler salespeople have to wear orange aprons?

#234 of 241 davethecarnut... by iluvmysephia1

Sep 09, 2007 (12:29 pm)

most of us know very little about Jim Press or Mr.Murtaugh. But with links like the one provided a few posts above we can learn. Right now it is only speculation about Cerberus selling Chrysler to a Chinese automaker.
 
I would guess that Cerberus has a lot brewing in their pot right now enough to just work on repairing and building Chrysler up and in to a company that can be profitable.
 
The more write-ups we can find like the one above the more we'll learn.
 
I know that I like the quirky body design of the new Dodge Hornet coming here in 2009. I did not like the Neon and the SRT4, though, and it seems that reliability issues haunted the car. I want to see if Dodge-Chery can build the thing right and then modify it properly to suit U.S. emissions standards, etc., and not change it much from the concept.
 
That's what makes this story interesting to me, Chrysler getting great new talent and building some great new product to go with it. The Lifetime Powertrain Warranty was a good move and it can't hurt as they "grow" the brand up. Or back up. Or grow the brand up for the first time. Maybe that's what they're after, eh?

#235 of 241 silver lining? by Stever@Edmunds HOST

Sep 11, 2007 (2:41 pm)

"Those hires, the employees say, suggest Cerberus isn’t doing the typical private equity drill of breaking up and selling the pieces. Instead, they say the company appears serious about investing what it takes, as it did in attracting outside talent, to turn Chrysler around, even if Cerberus ends up taking Chrysler public or selling it down the line."
 
Chrysler: Employees Heartened by New Hires, Investments (AutoObserver)

#236 of 241 Isolated bad news? by wtd44

Sep 11, 2007 (8:14 pm)

I just got a message from a close friend in another state who bought a brand new 2007 four door Wrangler. At 1500+ miles it destroyed a bearing and had to have a short block installed! Then, it threw a code that turned out to be a nearly closed spark plug gap. I guess the mechanic was in a hurry. Plainly, this tale scares me. I have a new 2007 GC Laredo with 1750 miles I've put on it...

#237 of 241 . by fintail

Sep 14, 2007 (1:33 pm)

This won't help anything

#238 of 241 Re: . [fintail] by wtd44

Sep 19, 2007 (7:59 am)

Replying to: fintail (Sep 14, 2007 1:33 pm)
Thanks for the URL. I haven't been contacted by Chrysler yet.

#239 of 241 Press to Press by Stever@Edmunds HOST

Sep 21, 2007 (7:42 am)

"They need some good, fresh direction, some consistent thoughts and observations, and I can bring those."
 
Chrysler's Jim Press speaks

#240 of 241 Cerberus Intentions ? by alltorque

Sep 21, 2007 (11:15 am)

Surely outfits such as Cerberus only buy an outfit cheap with a view to turning a profit from it, in a relatively short time. If they really wanted to go into the car producing game they could buy a smaller company, (Volvo ?, Jaguar ?), as a plaything. Buying Chrysler can only be on the basis that they shine the chrome, black the tyres, clean the windshield, wax the body and sell the old girl, as a supposedly revitalised runner, for a profit, with the garage full of spares etc adding the icing. Any promises now about long-term future will be explained away as "in the current and perceived future market environments the Chryler Corp was not thought to be a viable mass market producer. So we sold it in bits to China, (or India). Sorry guys, we really did try".
 
The UK motor industry should be your guide. Same problems of bad management, silly unions, poor design and quality as most American car makers but with a much smaller domestic market. What do we have left ? Not very much in the way of mass producers; and none UK-owned. We do have some brilliant specialist, though.
 
It's the new way of the world, guys. It just took a little longer to get to you.

#241 of 241 Here's hoping... by wtd44

Sep 22, 2007 (1:28 pm)

I sure hope it turns out otherwise, alltorque. Foreign car dealers remind me of old jokes about "fly by night" hucksters. I'm dependent on USA brand names and dealerships to support my addiction to vehicle trading/exchanging and I want whatever is left of the Big Three to stay in business right here, in downtown USA.

Messages Page 25 of 25

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