WOW! Chrysler Sold for $7.4 Billion
 

"DaimlerChrysler moved to undo the most expensive and one of the least successful mergers in auto industry history today -- agreeing to sell its money-losing Chrysler unit for a fraction of what it paid nine years ago. DaimlerChrysler will sell an 80 percent stake in its U.S. brand for $7.4 billion to Cerberus Capital Management, a private equity investment firm. German automaker Daimler-Benz paid $37 billion for Chrysler in 1998."

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ouch, that has got to hurt

I blame Celine Dion for all 5-stars peril.

Wow thats a huge lose

Daimler not only knows how to build good cars,
they also are very good in killing money by making bad deals.

Only god knows why :disgust

paid $37 billion for the U.S. automaker in 1998..

now there is a write off..

37billion to 7.4billion

The beginning of The end of u.s. made vehicles.

The beginning of that end started a long time ago.

Not even. But what I don't understand is how auto makers get stuck in this rut for so many years.
It's obvious the kind of cars and designs that sell, but they keep holding on to notion that the whole line must look alike, and have the same options
It's ludicrous.

American made cars have been on a decline since the model T. They can't for the life of them make a decent looking car or even one that doesn't look like total crap. I've yet to sit behind the wheel of an American built car that was enjoyable to drive. Hell I've had more fun in a Kia than I ever have in a ford, gm, or any other brand out there. I doubt too many people will be surpirsed about this. Sure Chrystler released the Crossfire, but did they ever do anything else to help keep the brand afloat?

So basically they bought it (chrysler), realised it was shit and sold it for 7 billion. So lets make it clear, the loss is approximately $30 billion.

Hmmm $30 million is a lot ........ OH HANG ON, its not million its FUCKING $30 billion. FUCKING IDIOTS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

the last months stock increases made up a lot of that money... not all though
see the bright side... they got rid of 80% of the shit
investors are happy

That's VERY painful - holy cow.

Most American cars are crap, with notable exceptions -- I can guarantee that the Dodge Viper SRT-10 will put a smile on your face. But for mere mortals who can't afford Vipers, American cars that joe blow can buy are total crap.

The so-called "Japanese" cars are manufactured in the US, assembled by US workers :)

Not to mention that Chrysler is still losing about $1 billion per year in losses :)
WG

That's a HUGE loss... wow

that is a big lose