Paullo that isn’t going to happen, think about it. What about everyone that is still paying on a new car!? Do you think they don’t have to pay for it anymore? No of course they will have to pay for it. Who ever picks up the company (there will be a buy out) will honor all past deals.
If not I would force them to give me a full refund on my car, due to the fact that I bought the car WITH a lifetime service warranty. I didn’t just buy a car I bought BOTH.
I’m a huge GM guy as many of you know, and even I think this is bad. I know GM is thinking about picking them up and I don’t know if this is a good or bad idea.
I hope if GM does buy them, they run it like a business. No unions, no overpaid workers, none of that normal bullshit. Maybe GM can use them as a new start. idk
There’s been “merger” talks for a while but it’s sorta hard to buy a company when you don’t have any cash. There is talk about Cerberus basically trading Chrysler for the rest of GMAC (they already own half of it) but I think they want a bit more.
GM actually went to the government and asked them for the money for the merger. If that happens I have a feeling a lot of people are going to be royally pissed. It’s no secret that Chrysler will be picked apart and pretty much disappear which means that tens of thousands of jobs will be lost. The government having a part in that won’t exactly look like they’re in it for the best interest of the country. I actually heard last week the government shot them down for that very reason.
Even so with a capital firm backing Chrysler it should last for a while…until they can find someone to buy it.
MB has basiclly said their 19.9% is worth 0 so according to my math that makes the other 80.1% worth about 0.
Actually math:
As of May Daimler reduces book value of Chrysler stake by two-thirds to $852 million making the whole company worth 4.3 billion according to my math.
That would mean Cerberus 80.1% would be worth 3.4 Billion.
Yeah taking out one of GM’s only brands that is growing in the US, as well as Europe and other places outside the US would be a great idea.
I know how much you love your Cadillacs.
As always thanks for your input Sexy Time.