Dan Quayle's Cerberus buys Chrysler. Hurricane alert for Chrysler workers and retirees!

[Bozita]

I'm wondering how many of Macomb County's famed Reagan Republicans are smiling now.

http://online.wsj.com/public/us

As of 11:25:00 PM EDT Sun, May 13, 2007

DAIMLERCHRYSLER IS EXPECTED to announce a deal to sell a controlling stake in Chrysler to Cerberus. The proposed deal would allow the German auto maker to shed $18 billion in retirement and health-care liabilities.  11:14 p.m.

[Blue_Tires]

1. this is a surprise

I've been following the sale of DCX and I thought Magna was the cut-and-dried frontrunner...It will be interesting to see how the UAW/CAW handle this....

[Bozita]

3. And Cerberus has a fierce reputation. ... known for having a combative, take-no-prisoners style

http://www.freep.com/apps/pbcs.dll/article?AID=/20070415/BUSINESS01/704150600/1002/BUSINESS&template=printart

The United Auto Workers and Canadian Auto Workers have publicly opposed the sale of Chrysler, and they are particularly opposed to its sale to Cerberus or any other private equity group.

"If the writing's on the wall, and there is a decision here to sell it, that decision had better not be to sell it to some private equity group that's going to come in and destroy it," CAW representative Bob Chernecki said.

"There's a fear of private equity, and there should be," said Brett Hoselton, an auto analyst with Key Banc Capital. Private equity has the potential to drastically transform a company.

And Cerberus has a fierce reputation.

Competitors say Cerberus is known for having a combative, take-no-prisoners style.

more

[Eurobabe]

2. "Potatoe" Dan Quayle?

Oh god, their doomed. :shrug:

[Bucky]

10. The skye is falinge!

[Eurobabe]

12. The Germens unlaoded a dog

jez got out in thyme!

[Blue_Tires]

4. read all you want about the three-headed dog

http://www.businessweek.com/magazine/content/05_40/b3953110.htm

[Blue_Tires]

5. ttt nt

[Wiley50]

6. How much did the Chrysler bail out cost us 20 or so years ago?

But, I hear they have a revolutionary new car
when the engine blows up
You just lock it in the garage for three days
and it rebuilds itself

It's to be called

The Chrysler Jesus

[CBGLuthier]

7. It cost us nothing

The government backed 1.5 billion in loans. Chrysler borrowed 1.2 billion and paid all of it back 7 years ahead of schedule.

[Rex]

8. Shed?

Is that what we call it now? Oh the WSJ, nm. :eyes:

[Holly_Hobby]

9. Does the sale also include Dodge and Jeep? n/t

[JustABozoOnThisBus]

11. Yes, all from the same company. nt