This is hardly a case of a mismanaged American company. The real story is that Cerberus has been negotiating with Daimler over the remaining 19.1% of the company.
Cerberus purchased 89.9% of the company for $7.2 Billion and now Daimler is asking for more than $7.2 Billion for the remaining 19.1% of Chrysler! In the negotiations, Cerberus accused Daimler of mismanaging the company in the months leading up to the sale. The claim is based on the fact that the lease market was already falling apart and Daimler was taking serious losses on lease returns. This is not an issue by itself but Daimler failed to report the losses, which would have brought the selling price of the company down by quite a few dollars. Now Cerberus is calling 'foul', accusing Daimler of intentionally withholding pertinent information ahead of the sale and they are asking for their $7.2 Billion back. Can't blame Cerberus if they are right. This is going to get interesting & will likely get worse before it gets better. Thanks, Tom Hargrave www.kegkits.com 256-656-1924 No virus found in this outgoing message. Checked by AVG. Version: 7.5.552 / Virus Database: 270.9.15/1834 - Release Date: 12/6/2008 4:55 PM _______________________________________ http://www.okiebenz.com For new and used parts go to www.okiebenz.com To search list archives http://www.okiebenz.com/archive/ To Unsubscribe or change delivery options go to: http://okiebenz.com/mailman/listinfo/mercedes_okiebenz.com
