Who will own Chrysler if not Cerberus ? - Truckers' Trucking Forum

RickG · **^ Top** #1 03.31.2009

Quote:

Cerberus Capital Management LP will likely lose its entire stake in Chrysler LLC under the latest federal bailout offer to the auto maker, people familiar with the matter said, extinguishing the massive investment it made less than two years ago.
The Obama administration's weekend ultimatum would also force Italian auto maker Fiat SpA to take a smaller equity stake than planned in the U.S. company, according to a person familiar with the talks.
President Barack Obama gave Chrysler a 30-day deadline to forge a partnership with Fiat as a condition of receiving more bailout money.

One Obama administration official said Cerberus's 80% equity stake no longer holds value and said the firm's ownership would soon come to an end. The private-equity firm has signaled it will surrender its equity in Chrysler. [LINK POSTED BY MEMBER] Only Members Can View This Truck Forum Link.

So who will have equity ?

doubledragon5 · **^ Top** #2 03.31.2009

I would think that the government would expecially with all the money they have given them..

ConservativeDemocrat · **^ Top** #3 03.31.2009

Not sure this would be a good deal for fiat or not. Mercedes didn't seem to like Chrysler after a while. Most successful auto makers have a market outside of their own nation..while the big 3 does as well its a small percent at best.

doubledragon5 · **^ Top** #4 03.31.2009

I actually seeing Chrysler as being the one auto maker to bit the dust in 30 days. It seems that when another company gets a hold of them, they say "holly S### what a mess" and then after a couple of yrs they decide to give them up.

RickG · **^ Top** #5 03.31.2009

Quote:

Originally Posted by ConservativeDemocrat

Not sure this would be a good deal for fiat or not. Mercedes didn't seem to like Chrysler after a while. Most successful auto makers have a market outside of their own nation..while the big 3 does as well its a small percent at best.

Fiat just wants access to a network of dealerships to sell and service their cars .

ConservativeDemocrat · **^ Top** #6 03.31.2009

of course they do. but..if profits aren't there they would be a fool to buy. Hell i even drive a 04 sebring convt..nice car but...If the big 3 fail so be it..Sure i would hate to see any of them disappear but....if they do they do. others will fill the void. toyota seems to do alright selling their full sized trucks here...

doubledragon5 · **^ Top** #7 03.31.2009

I drove a 96 Breeze which was the sister car to the sebring. I had it for one yr only. From day 1 ( bought it new) it was mechanical nightmare, and needed to be serviced at least 1 a month.. Finally traded it in for a 97 Subaru Outback, and that lasted me almost 10 yrs before selling it for my current 06 Kia sportage which has had zero issues.. To me most American cars have a reputation for being poorly designed and made. That is why most people including me now buy foreign..

ConservativeDemocrat · **^ Top** #8 03.31.2009

Sadly yes...price means little. the idea that American cars would compete if the Auto worker recieved less bennies is a farse. I know people who will pay more for a Toyota gladly....just to not have a American car..Unions aren't the issue with them failing..management is..

chipbase · **^ Top** #9 03.31.2009

I work for Chrysler at the moment and I have no clue how any of this mess will work. I could come on here and preach buy american but honestly my statement would be wothless because who really is american anyway?

Fiat wants the American market and chrysler has the manufactoring capicity to make that happen. They do also want the dealerships. Rick is right it is a platform they do not have as of yet.

They are not coming to the table with any money. This way they can bail out whenever they want. My opinion for what it is worth.

I am in a CDL School right now figuring out my next move. I have 10 years senority and it is all for nothing. Trying to stay upbeat in times like these is a harder job than working I am finding out.

Hitman · **^ Top** #10 03.31.2009

My neighbor has a Sebring...not sure what year...with 178k miles. The only thing it has needed was a water pump and brakes.

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