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Old 12-21-07, 07:26   #1 (permalink)
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Chrysler and Cerberus

Chrysler CEO tells of financial woe 4 months after buyout - Dec. 21, 2007

Views, thoughts, opinions?

I think overall, its positive. Its taking the losses and risk of a larger issue, GMAC, and rolling it into a private non-reporting holding. Should quell some short term concerns about the billions in GMAC mortgages and 0% financing while real estate tries to stabilize.
 
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Old 12-21-07, 07:41   #2 (permalink)
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Re: Chrysler and Cerberus

Anybody work for Chrysler?

Morale, working conditions, lay-offs? Any good or bad news or rumors?
 
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Old 12-21-07, 09:04   #3 (permalink)
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Re: Chrysler and Cerberus

Apparently the word is morale is VERY low as most fear for their jobs. Especially engineers who are reportedly being over worked to correct the many short comings with Chryslers product line.

Jsatek, I suggest you head over to the "News and Rumors" Section of Allpar.com's website. Great info from insiders.

As for the situation itself, I don't like Nardelli and his team of Ex-H.D. employees with which he has brought to Chrysler. Apparently, the hiring of Nardelli was the reason ex-Mercedes head man Wolfgang Bernhard didn't become Chairman of the new Chrysler. Which is a shame as he was a REAL car guy. Look at what Lutz has done for GM, they're product is as good as it's been in quite some time with him at the lead position.

Nardelli and Mullaly from Ford are both outside execs brought in because of their extreme cost cutting backgrounds and were expected to learn the auto industry on the job. I'm not sure how well that'll work for either as Ford is still in trouble and Chryslers seems to be thickening.

I really hope Chrysler does come through, it'd be sad to lose an American Icon.
 
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