Worst business decision ever
DaimlerBenz bought Chrysler in 1998 for $36 billion and is now selling it for $5.9 billion (in inflation adjusted 1998 dollars).
The company lost 84% of its value in 9 years? I don’t think so.
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Crap, if I’d known that I would have bought it.
No way. Worst investment ever is buying college textbooks. You pay several hundred dollars for the books which you then resell for pocket lint and a dead AA battery.
Duffy, You should try reading them.
I have collecting a few unpleasant facts about this deal. Cereberus is a hedge fund connected to GOPErhead corruption…and worse.
see: DEWay
“I have collecting a few unpleasant facts about this deal. Cereberus is a hedge fund connected to GOPErhead corruptionā¦and worse.”
YES. The evil GOP is secretly buying Chrysler. Probably plans to get rid of all the hybrids to allow Halliburton to sell many barrels more of that pure oil they are siphoning off through mysterious underground pipelines to Saudi Arabia. I hear Cheney is planning an attack on Japan so he can take control of Toyota and eliminiate the entire Prius line! WWOOOOOOOO!!!!!
Actually, Chris, click on Nancy’s name and read it. You might not believe, but it is more interesting than your tin-foil-hat insinuations.
Well, give Deiter some credit…they are keeping a 19.9% stake. Not as much a collosal bad deal, just a major f’d up deal. There’s a difference. Hey. the man needs some form of working capital so he can afford mustache wax.
Deiter: We just sold that Imperialist American Company. This is where on Sprockets that we dance. Touch my monkey.
well, the upshot seems to be that Cereberus routinely buys up loser corps, mostly for the pension plan investments. It will use up Chrysler and spit out the bones.
Newark’s interests are not even to making it into the fold since the Newark plant is still to be closed.
The actions of Cereberus are otherwise related to corruption in the WH, DOJ and Congress. That is what is in the links if you care to peruse, Chris.
Buying an automobile manufacturer with UAW and their overblown compensation packages is like buying a termite-infested house in a flood plain.
“That is what is in the links if you care to peruse, Chris.”
I did and it reads like a cheap Dem novel. Once again we have the protagonist, usually GWB but in this case his apparent twin Dan Quayle. He is playing the character only found in liberal fiction, the evil sadistic money-grubbing mastermind that also somehow manages to be a complete inept bumbling idiot. Never have figured out how you made Bush out to be both. But now you have done it to Quayle too. Lets’s see….who else can we do that to. Oh yeah, Jerry Lewis is mentioned in there too. I guess he really is just an evil money-grubbing corrupt politician, but then again, he shares his name with an actor that played an inept, bumbling idiot. So I guess we can count him.
Cheney I guess is just an evil money-grubbing genius…without the bumbling part…though…it seems to me libs have tried to stick him with that too. I guess, what it really boils down to is that ALL republicans are evil money-grubbing sadistic geniuses who manage to be completely inept and bumbling. I guess that is why I am one.
Well, have to go. Have some Chrysler pensions to siphon off.
Zing! Nice one LG. š
Well, you are close Chris. Except Bush is a moron that allows himself to be the tool of the evil genius and the special interests that pay the way for his policies. Keep working, though. You will figure it out eventually.
I actually thought Bill Maher had a good point 2 weeks ago when he pointed out that Bush has hired idiots from Regents University so that he can finally be the smartest guy in the room.
I am not sure why you are a Republican, but your explanation seems plausible.