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The '61-'71 Dodge Sweptline Truck Forum #19

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Subject:   The New Chrysler
Name:   MoparNorm
Date Posted:   Jul 13, 07 - 10:31 PM
IP Address:   71.119.187.197
Email:   moparnorm@hotmail.com
Dodge-Link   http://imageevent.com/moparnorm/paintandbody?n=0
Message:   From The Oakland press:

The chairman of Cerberus, former United States Secretary of the Treasury John Snow, recently spoke at an event in Detroit and discussed the Cerberus plan for Chrysler Group.

In short, they have no plans for an "exit strategy", the talk seemed to focus on the fact that Cerberus "fixes" companies, then holds on to them.

Mr. Snow made a specific point to mention that they will not be selling off the Jeep brand.

Snow also said Cerberus' acquisition of Chrysler will be good for Chrysler and for metro Detroit.

Cerberus founder Stephen Feinberg believes in American manufacturing, Snow emphasized, adding the purchase will create a "new environment," which will give the company more freedom.

"I think the current Chrysler employees have an opportunity in this new environment. I really do think this new environment is one that can open up the potential (of) Chrysler and let the Chrysler (management) focus on the day-to-day business rather than continually looking over their shoulder at what some analyst is writing about," he said.

"In this new environment, quarterly reports don't matter," Snow said. "You don't have the problem of missing the market's estimates of what your quarterly earnings are going to do."

"What you get to do is run the business. That's what (Chrysler Chief Executive) Tom LaSorda and his team want to do, and I think that's a plus for the employees."
Replies:    
Re: The New Chrysler by Jeffc · Jul 14, 07 - 12:35 AM
Re: Re: The New Chrysler by MoparNorm · Jul 14, 07 - 7:02 AM
Re: Some very good news! by JimmieD · Jul 14, 07 - 12:48 PM


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