Cars
Reports indicate that DaimlerChrysler has received offers of up to $9 billion
with a b for their Chrysler arm. Any cheque with 9 zeros on the end of it sounds good enough for me, whether its from Magna or General Motors.
But oh must it sting. When Jurgen Schrempp orchestrated the 'merger of equals', the cost for acquiring the Chrysler Group was approximately $40 billion in 1998. With inflation, that works out to about $48,000,000,000. I'm not a mortgage specialist, but if that's your house aren't you really, really, really upset?
Let's take a look.
Purchase price - $40,000,000,000
Profits made (9 years) - don't laugh
Selling price - $9,000,000,000
It seemeth to me that what we have here is a loss of billions of dollars. $31 billion. Put that in perspective: If Mercedes-Benz had gained $31B and handed out freebies to every individual in the world, we'd all get a few bucks.
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The Blue Oval reported today a second quarter profit of US$1 billion (€827 million), down 57 percent or US$1.4 billion (€1.16 billion) over the same period last year, as the company's losses in Europe piled up. Net income in the first...
- Chrysler Group Repays Us And Canadian Government Loans In Full
The Chrysler Group announced the repay of U.S. and Canadian government loans totaling $7.6 billion (€5.39 billion), more than six years ahead of schedule. More specifically, the Detroit automaker made a payment of $5.9 billion to the U.S. Treasury...
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Cars
"THAT'LL BE 9 BILLION...THANKS AND HAVE A GOOD DAY"
Reports indicate that DaimlerChrysler has received offers of up to $9 billion
with a b for their Chrysler arm. Any cheque with 9 zeros on the end of it sounds good enough for me, whether its from Magna or General Motors.But oh must it sting. When Jurgen Schrempp orchestrated the 'merger of equals', the cost for acquiring the Chrysler Group was approximately $40 billion in 1998. With inflation, that works out to about $48,000,000,000. I'm not a mortgage specialist, but if that's your house aren't you really, really, really upset?
Let's take a look.
Purchase price - $40,000,000,000
Profits made (9 years) - don't laugh
Selling price - $9,000,000,000
It seemeth to me that what we have here is a loss of billions of dollars. $31 billion. Put that in perspective: If Mercedes-Benz had gained $31B and handed out freebies to every individual in the world, we'd all get a few bucks.
- Recalls Cost Gm $1.2 Billion, Second Quarter Net Income Drops To $0.2 Billion
General Motors said its second quarter net income was $0.2 billion, $1 billion less than in the same quarter last year. The huge drop is due mainly to recalls, estimated to cost $1.2 billion. Read more »...
- Vw Starts To Feel The Crisis: Q1 Profit Down Almost 50 Percent
Although deliveries and market share are on the rise for the first quarter of 2013, Volkswagen Group posted a profit before tax of €2.7 billion ($3.53 billion), down from €4.2 billion ($5.5 billion) in the same period last year. Profit after...
- Ford's Second Quarter Profit Drops $1.4 Billion, Big Losses In Europe
The Blue Oval reported today a second quarter profit of US$1 billion (€827 million), down 57 percent or US$1.4 billion (€1.16 billion) over the same period last year, as the company's losses in Europe piled up. Net income in the first...
- Chrysler Group Repays Us And Canadian Government Loans In Full
The Chrysler Group announced the repay of U.S. and Canadian government loans totaling $7.6 billion (€5.39 billion), more than six years ahead of schedule. More specifically, the Detroit automaker made a payment of $5.9 billion to the U.S. Treasury...
- Big Three Bailout: Congress To Give U.s. Automakers $15 Billion In Federal Loans
Faced with the fear that the collapse of one or more of Detroit's Big Three automakers could lead to a domino effect deepening the U.S. economic recession in which half a million people (533,000 to be exact) have already lost their jobs in November,...