<![CDATA[Jalopnik: Chrysler Sale]]> http://cache.jalopnik.com/assets/base/img/thumbs140x140/jalopnik.com.png <![CDATA[Jalopnik: Chrysler Sale]]> http://jalopnik.com/tag/chrysler sale http://jalopnik.com/tag/chrysler sale <![CDATA[Chrysler Discloses $515 Million First-Quarter Loss]]> Chrysler LLC revealed a $515 million first-quarter 2008 loss, despite the fact that the privately held firm isn't required to discuss earnings. So what gives? Ex-lover Daimler spilled the beans Thursday, stating that its 20% stake in Chrysler lost about $105 million in value. The Detroit News did some quick math, multiplying Daimler's loss by five, and a Chrysler spokesperson eventually confirmed that the number was in the half-a-billon dollar neighborhood. More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=399238&view=rss&microfeed=true <![CDATA[Merrill Lynch "Car Wars" Report Claims Cerberus Readying Chrysler For Chop Shop]]> The new Dodge Challenger is hitting showrooms. The 2009 Dodge Ram launch is scheduled for fall. But it's the sounds of silence after that when it comes to product. What's going on? One influential industry study, the Merrill Lynch "Car Wars" report (yes, that's it's real name), states Chrysler's lack of new product may be a deliberate effort on the part of owners Cerberus Capital Management to thin the herd in advance of a breakup and subsequent sale. In an excerpt that again proves financial analysts are paid by character count, the report says,
"Chrysler's product pipeline severely lags the industry on a number of key metrics, which is an ominous sign for its market share. We believe that this is an active decision by new owners to rationalize the product portfolio in advance of a breakup/sale."
Cerberus, of course, is denying any such plans, stating that, "We have a model that is buy, fix and hold." Uh-huh. Didn't Gordon Gecko say that too? More »
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