Posted on 07/14/2007 4:59:19 PM PDT by bruinbirdman
Just went to the Chilton’s for my sister’s Focus after reading your comment. I see what you mean. She complained of the squeaking.
I'm not surprised that they are now on top when it comes to quality ratings.
Not exactly.
Daimler bought (in a “merger of equals”) Chrysler in 1998 for equivalent of $36 billion. After the sale they will retain 19.9% after paying additional $650 million, with Cerberus paying $7.4 billion for 80.1% stake, and with the new venture assuming over $19 billion in retirement liabilities, which Cerberus is raising through debt from banks.
Being detached from Ford should lower their resources, yet perhaps free them up to act more quickly. We’ll see. In general, I think this isn’t good for them in the short term.
I wonder if they’ll maintain their vertical integration with truckers. Several truck companies use Volvo engines exclusively. Perhaps the integration may break down and open the market to Caterpillar.
The greedy capitalist owners agreed to all the contracts.
Abba could make a cool Billion for a reunion tour. Gee...
http://news.bbc.co.uk/2/low/entertainment/3044114.stm
The year after the birthday performance, the group turned down a $1bn (£600m) offer for a reunion tour.
Thanks for that detailed information, CutePuppy. If DB retains about 20% of Chrysler, does that mean that some of DB’s engineering will be picked up by Chrysler? I had heard, for example, that some Chrysler products were bettered by DB suspension design, etc.
It still sounds like an ouch for Dr. Z, if he offloads $20 billion in pension liabilities and gets about $8 billion (for a total of around $28 billion to the good) if DB paid around $10 billion more for the merger. Not trying to quibble, but it still looks like an unhappy entry on the ledger for DB.
And the controlling owners of Chrysler are a group that takes its name for a guard dog of Hades? In deference to your screen name, I will not make any further “going to the dogs” remarks.
My Dodge Caravan has sealed boots (no zerk fittings) on the front end. I use a 50cc syringe with a large bore needle to pump grease into the boot and use the same hole I made in future greasings. So far works OK with no water accumulation in the boot.
Now if only GM would sell SAAB to a quality buyer....
I thought that Volvo Trucks were not part of Volvo-Ford?
they made silicone spray at the Ford dealer or a Checker Auto store....the trick is to bounce the suspension as you spray lub the area....sounds silly but it words,doesn’t wash off and stops squeaks.......The grommits used today are space age polimers and unbreakable
I think you may be confusing the Volvo passenger car operations that Ford bought in 1999 with the Swedish AB Volvo (VOLV) which is competitor of Navistar and Caterpillar and manufactures heavy equipment and engines. I think Ford is buying industrial / truck engines from Navistar.
-— AB Volvo - Selected Products and Brand Names
Trucks
Mack
Renault
Volvo
Construction Equipment
Articulated haulers
Backhoe loaders
Excavators
Motor graders
Skid steer loaders
Wheel loaders
Buses
City buses
Coaches
Intercity buses
Financial Services
Customer financing
Insurance
Volvo Penta
Marine engines (luxury and work boats)
Industrial engines (forklifts and construction equipment)
Volvo Aero
Aircraft engines
Engine components
SAAB is a great product.......wiat to see next years concept rides drawing attention to the fact GM owns SAAB
Re "going to the dogs", I do appreciate your sensitivity, but we parted ways with Cerberus ages ago when he decided to go to Hades for a "filthy lucre". In other words, he is not one of us, though I understand he's doing quite well financially.
Here's more details on Cerberus (and Chrysler), from D&B:
Named after the mythical three-headed dog that guards the gates of hell, Cerberus Capital Management has become a driving force among private equity firms. One of its more recent acquisitions is an 80% stake in DaimlerChrysler Motors (soon to be renamed Chrysler Corp. LLC). Cerberus was also the lead investor of a group that acquired 51% of GMAC, the financing arm of General Motors. The company currently owns bus manufacturer Blue Bird and is buying car parts maker Tower Automotive. Other holdings include a majority stake in Japanese bank Aozora, manufactured home loan servicer Green Tree Servicing, real estate services firm LNR Property, and ACE Aviation Holdings, the parent company of Air Canada.Because the company believes that the sector has long been undervalued, Cerberus has become heavily involved in the automobile industry. In addition to its GMAC and Chrysler holdings, the company now has an interest in CTA Acoustics (automobile insulation), GDX Automotive (auto seating products), Guilford Mills (auto seating products), and Peguform Group (auto interior products).
A key to early success for the Cerberus-Chrysler deal may well be found in its new labor agreement with the United Auto Workers (UAW) union (the current contract is set to expire in September 2007). While Chrysler has already announced plans to reduce its workforce by some 13,000 and to shutter at least one manufacturing facility, it's biggest battle will be to reduce labor and the associated health-care costs.
The task may seem daunting, given the current state of American automakers, but Cerberus does have several things in its corner. For one, because it will be a private company (the first private major US automaker since Ford went public back in the '50s), Chrysler will not live and die by daily share prices. Also, because Cerberus has extensive investments in the auto parts industry, it will have added leverage when dealing with suppliers. (To underscore its importance, a change in supplier relations was announced just hours after Cerberus emerged as the new Chrysler owner with the announcement that Simon Boag would become the new vice president of procurement.) Cerberus chairman John Snow should also give Chrysler an edge. Snow, the former Treasury secretary in the Bush administration, briefly served as the head of the National Highway Traffic Safety Administration while Gerald Ford was president.
Although no official offers have been made, Cerberus could also be a potential buyer for both Jaguar and Land Rover--a couple of automobile companies Ford is looking to unload.
With a majority stake in GMAC and the financing company that comes with the Chrysler purchase, Cerberus will now control an influential share of the automotive financing market in North America.
The company is selling its stake in Vanguard Car Rental Group (parent company of Alamo Rent A Car and National Car Rental) to Enterprise Rent-A-Car.
The private equity firm has not been solely concerned with auto industry however. Cerberus agreed to buy UK home improvement chain Focus (DIY) from Apax Partners and Duke Street Capital in 2007. It is also buying UK firm Torex Retail, which makes software for retailers.
In early 2006 Cerberus joined with SUPERVALU grocery, CVS Corporation, and Kimco Realty to buy grocery chain Albertsons in a deal worth $9.6 billion.
Cerberus' NewPage Holding (formed after the acquisition of MeadWestvaco 's paper business) filed and later withdrew an initial public offering.
Every Toyota I’ve seen lately has been the same way.
When the tie rod end boot split, I couldn’t find any parts store with a greaseable replacement. At least when the same happened to my Taurus, I was able to go greasable on the replacement.
Does any manufacturer use greasable anymore? I know most switched because most owners neglected to have them serviced. So while greasable lasts much longer when properly serviced, going non-greasable means a much higher average lifespan for the initial part.
Most owners really don’t know what proper maintenance means.
Something you learn to do fast when you have a 97-01 Toyota Camry and don’t want to have to replace the strut mounts every 3 months because the noise is driving you insane. :)
Daimler sold Chrysler for $7b. After buying it for $35b. What a bunch of maroons.
You mean Carlos Slim? Yes, he is the richest man alive, but I have to tell you, he is aided by anti-competitive laws and alliances with key Mexican lawmakers. I am typing to you from Mexico using his Telnor/Telmex internet connection. Competition here is not the norm. ISP service in the US ranges from about $10 per month to $60, depending; here it starts at $40 and goes up. That is slowly changing, but competition is elbowed aside while he gets richer. I appreciate anti-trust laws. And Walmart is the largest single employer in Mexico, Slim’s phone company employees only half as many people. One can daily see here the effects of the absence of economic competition.
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