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delmonty
Cruiser Fan
Posted: Feb 16, 2007, 11:20 AM
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GM in talks to buy Chrysler Group
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I just saw this on CNNMoney.com....
Reports: GM in talks to buy Chrysler Group Sources say the No. 1 automaker may buy DaimlerChrysler's struggling auto unit, according to a report. February 16 2007: 1:10 PM EST
NEW YORK (CNNMoney.com) -- General Motors is in talks to buy DaimlerChrysler AG's struggling Chrysler group in its entirety, according to several reports.
According to the reports, sources in Germany and the United States said high-level talks between GM (up $0.16 to $36.60, Charts) and DaimlerChrysler (up $2.50 to $72.75, Charts) executives are taking place.
Chrysler Group announced Wednesday it would be cutting about 13,000 workers over the next three years as a part of a restructuring plan. Reports also said its German parent was considering selling or spinning off the unit.
Talks of an alliance between GM and DaimlerChrysler was first reported last week in Germany's Manager-Magazin.
Chrysler's Valentine's Day massacre
The German publication said DaimlerChrysler Chairman Dieter Zetsche had met with GM Chairman Rick Wagoner about a possible sale of Chrysler to the automaker.
Other unnamed sources said to be familiar with the discussions confirmed the reports for Reuters and the industry newspaper Automotive News.
DaimlerChrysler employed J.P. Morgan Chase & Co. to consider options for the Chrysler Group, to help the automaker explore strategic options, according to reports.
But others are also skeptical on whether the discussions are real.
"This would be a at least $5 billion plus deal and GM is not that liquid right now," John Casesa said, an automotive analyst with Cases Strategic Advisors LLC. "I'm not convinced at all and I think it's unlikely."
Officials for DaimlerChrysler and GM issued no comments on the reports.
DaimlerChrysler has long tried to reverse the drop in sales with previous cost-cutting moves but slipped into the No. 4 spot last year behind Toyota (down $0.37 to $136.40, Charts) in the United States.
Renault Nissan's (down $0.16 to $23.32, Charts) Chief Executive Officer Carlos Ghosn expressed interest in the past in buying the automaker.
Chrysler, GM seen in SUV partnership talks
GM, Chrysler reportedly discuss joint project
If this happens I wonder which will be axed the PT or the HHR?
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Monty in Tampa
Some of the coolest toys I've owned....
2003 PT Cruiser GT
1991 Nissan Sentra SER
1971 Ford Torino 500
1967 Pontiac Lemans
(This post was edited by delmonty on Feb 16, 2007, 11:27 AM)
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Posts: 36 | From: Tampa, FL
| Registered: Jul 28, 2006, 10:46 AM
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Mike-in-Orange
Cruiser Expert
Posted: Feb 16, 2007, 4:14 PM
Post #3 of 11
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Re: [delmonty] GM in talks to buy Chrysler Group
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GM is broke, or damn near it. Where are they going to get the money to buy Chrysler? I really think the most likely buyer would be Ghosen's Renault/Nissan group.
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'04 Limited Edition Platinum Series Turbo Lite + Stage 1 + VAK intake + Magnecor wires = 14.48 @ 95mph Pix here
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Posts: 215 | From: Trabuco Canyon, CA
| Registered: Feb 2, 2004, 5:26 PM
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Cruiser RN
Cruiser Veteran
PT Cruiser Club Member
Posted: Feb 16, 2007, 4:33 PM
Post #4 of 11
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Re: [delmonty] GM in talks to buy Chrysler Group
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 It ain't gonna happen.I can see the anti - trust litigation.Shall we say illegal monopoly????.....Mike
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Mike Casabianca
His: 2001 Black LE with Auto Transmission, BullDog Signs Flames, WeatherTec wind deflectors, cargo area mat, PT trash can, PT valve stem caps and Dart's coldair intake, chrome tail and headlight bezels, chrome bumper inserts, chrome license plate pillow, chrome fender trim, 1940's retro chrome on front and back fenders, door spears, chrome hatch door trim, chrome gas door, brushed chrome door sills, billet door pins, custom "BlueHaze" dash mat, MRK Group lugnut covers, dome light trim, etc. and the chrome goes on......
Hers: 2003 Patriot Blue Woody with Automatic Transmission, Bulldog Signs Eeyore, Cargo area mat, WeatherTec wind deflectors, PT valve stem caps, PT trash can, "BlueHaze" custom dash mat, and chrome tailpipe extension, "Old School" wood shifter knob, wood and chrome door pins, MRK Group interior knob and switch covers, door surrounds, and dome light trim, chrome door surround trim, white eeyore window decals, smoothie hub cap, wood eeyore plaques ....and the Wood goes on
http://community.webshots.com/user/mdcvmvc
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Posts: 2269 | From: Yonkers, New York
| Registered: Aug 21, 2002, 12:00 AM
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ptgeebee
Cruiser Addict
PT Cruiser Club Member
Posted: Feb 17, 2007, 5:04 AM
Post #5 of 11
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Re: [delmonty] GM in talks to buy Chrysler Group
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I hope this doesn't happen.
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East Tennessee PT
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Posts: 748 | From: Maryville, TN
| Registered: Nov 14, 2004, 4:53 AM
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silvereagle
Cruiser Addict
Posted: Feb 17, 2007, 9:33 AM
Post #6 of 11
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Re: [ptgeebee] GM in talks to buy Chrysler Group
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GM is in as much trouble as Chrysler.If there not careful they both my be bought out by Rire Aid.  Can you just picture a Hemi in a Chevy truck. Or a PT Cruiser with a Chevy V6 engine. What's the chance of that happening? A Zillion to one.
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big jim
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Posts: 923 | From: New Castle ,Del, USA
| Registered: Aug 6, 2002, 12:00 AM
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slipfit
Cruiser Expert
PT Cruiser Club Member
Posted: Feb 17, 2007, 10:58 AM
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Re: [silvereagle] GM in talks to buy Chrysler Group
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I can't see it happening either, but they say imitation is the sincerest form of flattery. The HHR is copied from the PT, They took the grill and attitude of the Jeep and put in the Hummers (funny their slogan is "Like nothing else" and maybe it's just me, but the "vette" has started to look similar to the Viper. They don't need to buy Chrysler - they just wait for designs they can use. They must like DC to say the least. SliPfiT P.S. Is Lutz still over there?
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If it's gonna happen - it's gonna happen out there.
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Posts: 355 | From: Columbus, Mi
| Registered: Jan 21, 2007, 3:03 PM
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RORO1
Cruiser Expert
Posted: Feb 17, 2007, 4:02 PM
Post #8 of 11
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Re: [delmonty] GM in talks to buy Chrysler Group
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 I really don't see how GM can buy Chrysler, they are having the same trouble, at least they didn't sell out to a foreign manufacturer. I wonder what would have happened if they had not sold out the german company.
Remember Amercian Motors,
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RAMBLIN ROSE
2001 CRANBERRY LIMITED
CHROMEILLUSION ROSES
ROSE WINDOW ETCHES
17 INCH DIABLO WHEELS
K & N COLD AIR FILTER
EUROPEAN TAIL LIGHTS
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Posts: 236 | From: AMELIA COURTHOUSE VA
| Registered: Mar 28, 2003, 4:09 PM
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1rooster
Cruiser Certified
PT Cruiser Club Member
Posted: Feb 17, 2007, 4:43 PM
Post #9 of 11
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Re: [delmonty] GM in talks to buy Chrysler Group
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Fact 1.Chrysler and Dodge has cornered the market on minivans.GM wants that.
Fact 2. NASCAR said as long as they were in control Chrysler would never be allowed to use the HEMI engine.A hemi monte carlo race car.Just what NASCAR and Chevrolet wants.I guarantee NASCAR would approve the Hemi for use in a chevy.Ford and Dodge would have to withdraw as chevy and toyota would win every race.
Fact 3.You would see a Viper engine in a corvette or the new camaro.
Fact 4.Maybe I should sell my PT asap as the value would be less than a YUGO.Go figure
Just my pennies opinion.Thats my story and I'm sticking to it.
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When you are up to your nose in poop keep your mouth shut.
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Posts: 1084 | From: Roosterville NC
| Registered: Jun 17, 2001, 12:00 AM
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Cruiser RN
Cruiser Veteran
PT Cruiser Club Member
Posted: Feb 24, 2007, 6:45 AM
Post #10 of 11
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Re: [1rooster] GM in talks to buy Chrysler Group
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Hey Master Roo .History does repeat itself once again.What Japan couldn't get by conquest in World War 2 they just whip out the checkbook and buy Now GM can't build a better Cruiser so what the Hell BUY THE COMPANY...........We shall see.......God Bless You and Yours.........Mike
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Mike Casabianca
His: 2001 Black LE with Auto Transmission, BullDog Signs Flames, WeatherTec wind deflectors, cargo area mat, PT trash can, PT valve stem caps and Dart's coldair intake, chrome tail and headlight bezels, chrome bumper inserts, chrome license plate pillow, chrome fender trim, 1940's retro chrome on front and back fenders, door spears, chrome hatch door trim, chrome gas door, brushed chrome door sills, billet door pins, custom "BlueHaze" dash mat, MRK Group lugnut covers, dome light trim, etc. and the chrome goes on......
Hers: 2003 Patriot Blue Woody with Automatic Transmission, Bulldog Signs Eeyore, Cargo area mat, WeatherTec wind deflectors, PT valve stem caps, PT trash can, "BlueHaze" custom dash mat, and chrome tailpipe extension, "Old School" wood shifter knob, wood and chrome door pins, MRK Group interior knob and switch covers, door surrounds, and dome light trim, chrome door surround trim, white eeyore window decals, smoothie hub cap, wood eeyore plaques ....and the Wood goes on
http://community.webshots.com/user/mdcvmvc
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Posts: 2269 | From: Yonkers, New York
| Registered: Aug 21, 2002, 12:00 AM
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delmonty
Cruiser Fan
Posted: Feb 26, 2007, 8:14 AM
Post #11 of 11
(929 views)
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Re: [delmonty] GM in talks to buy Chrysler Group
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Here's the latest update....
MSNBC.com Article: DaimlerChrysler mulls stake in General Motors
DaimlerChrysler shares edged higher Monday 2/26 on a news report that the automaker was considering taking a stake in General Motors Corp. in exchange for its struggling Chrysler unit.
http://www.msnbc.msn.com/id/17343586/from/ET/
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Monty in Tampa
Some of the coolest toys I've owned....
2003 PT Cruiser GT
1991 Nissan Sentra SER
1971 Ford Torino 500
1967 Pontiac Lemans
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Posts: 36 | From: Tampa, FL
| Registered: Jul 28, 2006, 10:46 AM
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