Trade War

[hurleyjd]

Yes I am Hurley, I'm sure some of Chrysler money went back to help Mercedes.

I think yall may be getting your bailouts intertwined and the timelines mixed. The original bailout of Chrysler thru congress and Lee Iacocca happened in 1979 and was paid fully with interest by 1983. It was 15 years later that the DaimlerBenz/Chrysler merger happened, and it's purpose was exact opposite what the Fiat deal is. Chrysler made lots and lots of money on the K cars and minivans (it's what got them out of bailout debt) but they hung on that horse too long and didn't move forward with technology. Daimler wanted Chrysler so they could integrate Mercedes modern rtech and quality and tech into American made Chrysler products and make money at it, but..as one auto analyst put it, ""The American volume customer is not willing and is probably not able to pay premium prices for premium technologies," and he was correct.

(and of course, just as Chrysler and AMC did before, Daimler wanted the Jeep brand, specifically Grand Cherokee.)

Some of Chrslyer's profits did go to Mercedes. About $11 billion over the course of the 9 years Daimler Benz had controlling interest in Chrysler. But, overall, Mercedes, even with the $11 billion Chrysler added to in profits, lost heavily on the deal. Daimler had to put so much $$$$$$ into Chrysler to make/keep it profitable and to move into better technology, that at the end of the 9 years, they lost about $25 billion. (Daimler paid $36 billion for Chrysler in '98 and in '07 had to agree to pay nearly another billion $ to pay off Chrysler debt before Cerberus Capital would agree to take Chrysler over, with Cerbrus paying Chrysler direct about $7 billion. Chrysler was in the midst of restructuring because it had lost over $1 billion in 2006.

Most auto analysts believe DaimlerBenz lost a whole lot more than that..maybe as much as $60billion altogether.

GB do you remember who Cerbus Capital hired for the CEO was it the ex home depot CEO that nearly run Home Depot into the ground.

 

[Silver]

While we are talking about the bailouts it is also worth mentioning that the Canadian taxpayer ponied up $13.7 billion to Chrysler and GM. Which adds a bit extra sting to any proposed auto tariffs directed this way.

 

[greybeard]

GB do you remember who Cerbus Capital hired for the CEO was it the ex home depot CEO that nearly run Home Depot into the ground.

I'm pretty sure Steven Feinberg is and has been CEO of Cerebus ever since he co-founded the company in the early 90s.

If you are talking about the CEO Cerebus hired for Chrysler, I had to look it up and it was Nardelli, previously with GE & then the CEO of Home Depot.
He evidently made a lot of $$ for Home Depot but the managers and customers hated what HD had become because of his cost cutting and streamlining measures..

https://en.wikipedia.org/wiki/Robert_Na ... Home_Depot

 

[hurleyjd]

GB do you remember who Cerbus Capital hired for the CEO was it the ex home depot CEO that nearly run Home Depot into the ground.

I'm pretty sure Steven Feinberg is and has been CEO of Cerebus ever since he co-founded the company in the early 90s.

If you are talking about the CEO Cerebus hired for Chrysler, I had to look it up and it was Nardelli, previously with GE & then the CEO of Home Depot.
He evidently made a lot of $$ for Home Depot but the managers and customers hated what HD had become because of his cost cutting and streamlining measures..

https://en.wikipedia.org/wiki/Robert_Na ... Home_Depot

Some times it takes years and years to catch up to managers that are not as smart as they need to be. Probable an outstanding resume. Speaking of Nardelli. He and Jack Welch sold off parts of companies and cut expenses to the point the companies were in trouble after the left.
eui

 

[Chief Dirtyface]

 

[ddd75]

Black and Hispanic Unemployment rates hit record low in April
Business Investments up 39 Percent Due to Tax Cuts
April 2018 Best Month in HISTORY for Budget according to CBO
Food Stamp Usage Drops Half Million in Single Month
Highest Ever Manufacturer Optimism over 94 Percent
Unemployment claims have fallen to a 45-year low
Trump Economy Explodes Record Number of Americans Employed Stocks Soar
FEB JOBS BLOWOUT 313K
GREAT AGAIN Household Net Worth Pushes Further Into Record Territory
U.S. Consumer Confidence Is at 17-Year High
US homebuilding permits soar to highest level since 2007
Economy to grow at 5.4% rate in first quarter
Roaring: Economic Optimism Index hits 13-year high, credit to tax cuts
U.S. jobless claims drop to near 45-year low
Wages jump to highest level since 2009 - up 2.9%
U.S. Oil Production Tops 10 Million Barrels A Day, First Time Since 1970
Trump Decreases Debt to GDP Ratio - First Time in Over 50 Years!
Jobless claims drop to lowest level in nearly 45 years
Apple to Invest $350 BILLION in US citing Trump Tax Plan
Utilities cutting rates, cite benefits of Trump tax reform
Over 100 companies giving 'Trump Bonuses' after tax victory
Black unemployment rate falls to record low
Trump adds 184,000 manufacturing jobs and continues growth trend
Manufacturing in the U.S. Just Accelerated to Its Best Year Since 2004
Nikki Haley negotiates $285M cut in 'bloated' UN budget
WIC Welfare Participation Hits 17-Year Low
U.S. home sales hit 11-year high
U.S. home sales increased more than expected in November, hitting their highest level in nearly 11 years, the latest indication that housing was regaining momentum after almost stalling this year.
US home sales hit 11year high













yea.. they are all going overseas.. ba bye america.. trump has just ruined us..


lol..

 

[jehosofat]

Yea, Chief . . . . .get you some of that.