DaimlerChrysler, that globe-spanning multi-national merger of equals, is proud of its diffused management structure. Daimler and Chrysler — like Ebony and Ivory, living seperate but equally in harmony — with one team holding fort in Stuttgart, Germany — another in Auburn Hills, MI — and then they got to play together at board meetings in NYC. Part of that message was the idea they would "play" in all of the world's major stock exchanges. Good idea in message, bad idea in cost — so the German/American tag-team's decided to fix that problem — delisting themselves in 12 of the world's exchanges. DaimlerChrysler bean counters in...Auburn...Stuttg...New... umm... somewhere decided with levels of trade so low in these 12 trading pits — it just wasn't worth it to be listed there. So, DaimlerChrysler's saying goodbye to many of the grand exchanges of the world...like Philadelphia for instance.
DaimlerChrysler board approves delisting from 12 stock exchanges [Detroit News]
Related:
More Industry News [internal]