Final contract signing for Cerberus' purchase of Chrysler today?
Final contract signing for Cerberus' purchase of Chrysler today?
The final contract signing of the sale of Chrysler to Cerberus is supposed to happen today, August 1st,along with the celebration. A new Chrysler Corp. logo is supposed to be unveiled at the celebration. So, everyone be on the look out.
Apparently, the Chrysler Technical Center has already taken "Daimler" out of their sign. Other signs will be changed over time, due to cost.
(Source: UPI)
Apparently, the Chrysler Technical Center has already taken "Daimler" out of their sign. Other signs will be changed over time, due to cost.
(Source: UPI)
RE: Final contract signing for Cerberus' purchase of Chrysler today?
So it didn't happen today, however...
Starting today, Chrysler employees can take out the name"daimler" from their e-mail addresses.
Allpar reports "signs appear to have been prepared for a changeover, indicating that the final papers may be signed as early as this week."
Many Chrysler facilities have been getting ready to celebrate the change. Lots of trucks have removed the DaimlerChrysler logos.
ChryslerCorporation.com currently takes you to the Chrysler section of daimlerchrysler.com.
Sorry guys.
Starting today, Chrysler employees can take out the name"daimler" from their e-mail addresses.
Allpar reports "signs appear to have been prepared for a changeover, indicating that the final papers may be signed as early as this week."
Many Chrysler facilities have been getting ready to celebrate the change. Lots of trucks have removed the DaimlerChrysler logos.
ChryslerCorporation.com currently takes you to the Chrysler section of daimlerchrysler.com.
Sorry guys.
Grand Champion
Joined: Nov 2005
Posts: 6,258
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From: Charleston, SC
RE: Final contract signing for Cerberus' purchase of Chrysler today?
Ah the suspense is killing me!
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Champion
Joined: Aug 2005
Posts: 3,313
Likes: 8
RE: Final contract signing for Cerberus' purchase of Chrysler today?
Cerberus was not able to sell the several billion $ in bonds to fund the deal,
but apparently 3 banks are going to loan the money
and keep the loans as bank loans.
If any of those 3 banks get in trouble because of the home loan mess
Cerberus and Chrysler will be at risk of having the loan interest rates raised, or in the worst case...the loans will be called and Cerberus would have to sell off other assets to cover the loan.
The worst thing seems to be that this might mean that when Chrysler/Cerberus negotiates with the UAW this fall
bond money will not be available to create a trust fund for health care
that the union would run, like they agreed to with Delphi/Delco.
If Chrysler/Cerberus can't get the liability for the health care of retirees
off their official books, they will never be able to show an official profit
unless sales grow by tremendous amounts.
Say a little prayer for Chrysler...they still need it.
but apparently 3 banks are going to loan the money
and keep the loans as bank loans.
If any of those 3 banks get in trouble because of the home loan mess
Cerberus and Chrysler will be at risk of having the loan interest rates raised, or in the worst case...the loans will be called and Cerberus would have to sell off other assets to cover the loan.
The worst thing seems to be that this might mean that when Chrysler/Cerberus negotiates with the UAW this fall
bond money will not be available to create a trust fund for health care
that the union would run, like they agreed to with Delphi/Delco.
If Chrysler/Cerberus can't get the liability for the health care of retirees
off their official books, they will never be able to show an official profit
unless sales grow by tremendous amounts.
Say a little prayer for Chrysler...they still need it.