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Daimler AG Common St (DAI)
47.42 ? 0.0 (0.00%)
Volume: -
Bid Ask Day's Range
- - - - -
Full DAI Quote
Daimler AG Common St (NYSE:DAI)
Last Price (USD) $47.42
Change ? 0.0 (0.00%)
Bid -
Ask -
Volume -
Days Range - - -
Last Trade -
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Daimler AG Common Stock (DAI)
$ 47.42 ?- (-%)
Volume: -
Daimler Ag (NYSE:DAI)
Last Price (USD) $47.21
Change ? 0.01 (0.02%)
Bid 46.27
Ask 48.15
Volume 839,640
Days Range 46.89 - 47.57
Last Trade 3/18/2010 4:30:10 PM
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Daimler Ag (NYSE:DAI)
Last Price (USD)
$ 54.11
Change
? 0.81 (1.52%)
Bid 52.50
Ask 55.05
Volume 529,531
Day's Range 53.55 - 54.32
Last Trade 4:12:31 PM EST
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Daimler Ag (NYSE:DAI)
Last Price (USD)
$ 55.95
Change
▲ 3.41 (6.49%)
Bid 53.40
Ask 56.87
Volume 1,285,571
Day's Range 53.38 - 56.57
Last Trade 6:00:17 PM EDT
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Daimler Ag (NYSE:DAI)
Last Price (USD)
$ 43.78
Change
▼ -1.07 (-2.39%)
Bid 43.55
Ask 55.25
Volume 727,761
Day's Range 42.92 - 43.90
Last Trade 4:15:05 PM EDT
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Daimler Ag (NYSE:DAI)
Last Price (USD)
$ 33.85
Change
▼ -0.15 (-0.44%)
Bid 33.00
Ask 33.97
Volume 612,322
Day's Range 33.70 - 34.29
Click for Detailed Quote Page
Last Trade:20:00:00 EDT Jun-22-09
Maybe salvation- Ford, Nissan, Tesla Said to Get U.S. Loans for Efficient Cars
http://www.bloomberg.com/apps/news?pid=20601101&sid=aGNV.ljyfU1I
thanks good info
Maybe salvation- Ford, Nissan, Tesla Said to Get U.S. Loans for Efficient Cars
http://www.bloomberg.com/apps/news?pid=20601101&sid=aGNV.ljyfU1I
Is Daimler Buy-in a Death Knell or Salvation for Tesla?
http://www.treehugger.com/files/2009/05/daimler-death-knell-or-salvation-for-tesla.php?dcitc=TH_sbr_cars
Daimler Ag (NYSE:DAI)fiat(USD) $32.19 UP $2.46 (+8.27%)
Bid 32.19
Ask 32.22
Volume 291,446
Day's Range 32.09 - 32.73
Click for Detailed Quote Page
Last Trade:10:11:11 EDT Apr-3-09
US car giants seek $21bn funding -
http://news.bbc.co.uk/2/hi/business/7893574.stm
Daimler Ag (DAI) - Level II/Market Depth $29.73 Change: $3.65 (+14.00%
Volume:
1,073,634
20:00:00 EDT
Apr-2-09
ADR Report-Foreign stocks in U.S. jump on G20 optimism
Thu Apr 2, 2009 5:36pm EDT
http://www.reuters.com/article/marketsNews/idINN0243551920090402?rpc=44
Sector Snap: Automaker shares climb on March sales -
http://finance.yahoo.com/news/Sector-Snap-Automaker-shares-apf-14831207.html
Obama demands GM CEO to resign? -
http://www.dailypaul.com/node/88005
http://www.obamacrimes.info/
Alex Jones Show - Emanuel & Obama -
Gun-Grabbing Crime Bosses Inc. 1 of 5 -
Ready to Roll - Off Topic -
India News - People's Car - $1,900.oo
Here it comes..........
http://tatanano.inservices.tatamotors.com/tatamotors/
Cerberus, Chrysler meeting with labor leaders today
Associated Press
Posted Tuesday, May 15, 2007 at 7:13 am
DETROIT -- Cerberus Capital Management LP and leaders of the Chrysler Group will try to convince the leaders of the automaker's workers that their $7.4 billion deal will give workers better job security, restore Chrysler's health and not "strip and flip" the company by selling it off in pieces.
Cerberus head Stephen Feinberg and Chrysler CEO Tom LaSorda were meeting today with U.S. and Canadian labor leaders, who have split on whether the pairing will benefit Chrysler's 80,000 workers.
United Auto Workers President Ron Gettelfinger said the deal was "in the best interest of our membership" and the auto companies, noting that Cerberus had vowed to bolster its commitment to Chrysler's pension benefits.
But Canadian Auto Workers President Buzz Hargrove said he had "enormous concerns" about the plan, stressing that many private equity groups have a long-standing history of slashing jobs in order to boost profits for investors.
"They're not interested in building cars. This could be a bicycle shop as far as they're concerned," Hargrove told reporters in Toronto on Monday. "As long as they see an opportunity to make a lot of money in a short period of time, then they'd be buying in."
DaimlerChrysler was scheduled to release its first-quarter earnings Tuesday, a day after announcing the sale of 80.1 percent of Chrysler to Cerberus. It brings to a close the $36 billion "merger of equals" that in 1998 attempted to create the ultimate global automotive powerhouse.
The maker of luxury Mercedes-Benz sedans found itself, like competitors Ford and General Motors, battered by rising pension and retiree health costs in the United States as Toyota Motor Corp. and other Asian manufacturers won the hearts of U.S. consumers with what many view as more reliable, more fuel-efficient models.
Germany-based DaimlerChrysler AG said it would keep a 19.9 percent stake in the renamed Chrysler Holdings LLC. The private company will be run by Cerberus, which said it would keep the current management in place.
DaimlerChrysler may need to pay as much as $650 million to extract Chrysler in exchange for being absolved for $19 billion in retiree health care costs that will be the responsibility of the new Chrysler owners.
Daimler will continue to work with Chrysler on drive systems, purchasing, sales and financial services outside North America.
The meetings in Auburn Hills today serve as precursors for talks that will begin this summer between the UAW and Detroit's automakers on a national contract. Analysts expect Cerberus, headed by former Treasury Secretary John Snow, to seek aggressive changes at its money-losing Chrysler, Jeep and Dodge operations.
Gettelfinger, who has complained in the past that private investment firms have conspired to "strip and flip" companies at the expense of workers, said he tried to maintain the status quo. But once he was told that a DaimlerChrysler break up was inevitable, he sided with the Cerberus team after receiving assurances that the new company would protect pensions and would not announce new job cuts.
Gettelfinger said he did not expect the deal to have an impact on the upcoming contract negotiations. But analysts said he was likely being pragmatic, recognizing the need to enter the negotiating phase with the new partner.
"It puts a new dimension to the contract negotiations. Now the union can literally hold the deal hostage waiting for a package," said Gary Chaison, a professor of industrial relations at Clark University. "The UAW still has the opportunity of acting as a spoiler to the deal in a much more powerful way."
Nonetheless, the entanglement with private equity has raised concerns among Chrysler workers who have weathered a restructuring plan announced earlier this year that will eliminate 13,000 jobs.
"It sounds like they are choppers. It sounds like they take companies apart," said John Jorgensen, a 48-year-old former pipefitter at Chrysler's Kenosha, Wis., plant who recently accepted a company buyout.
Bryan Currie, an electrician at the company's Sterling Heights assembly plant, said many workers have taken a "wait-and-see" attitude. "We don't know what they're going to do yet. We've got the union protection and that's what we're banking on."
Cerberus has steadily been building strength in the automobile business. It led a consortium that bought a majority stake last year in General Motors Acceptance Corp., the financial arm of GM, and planned to invest in ailing auto parts giant Delphi Corp.
Chrysler and the other Detroit automakers were hurt when gasoline prices surpassed $3 per gallon after Hurricane Katrina, sending buyers away from the truck-based models on which they made most of their money. Chrysler Group lost $1.5 billion last year.
"A decision needed to be made. The uncertainty of the past several months did little to encourage consumers to buy Chrysler products," said Sen. Tom Carper, D-Del., whose state is home to a Chrysler plant that is scheduled to be closed in 2009.
Cerberus Chairman Snow said his company is in the investment for the long term, outlining plans to keep Chrysler's management and work with unions to return the struggling automaker to profitability.
"We think at this particular point in Chrysler's history, there may be opportunities in the private world, the world of private investment, that create more room for growth and expansion, that allow management to focus with greater intensity on the day-to-day business of producing better cars," Snow said in Germany.
Some analysts said Cerberus' entry into the auto industry could help Ford Motor Co. and General Motors Corp. at the bargaining table. Formal talks between Detroit's automakers and the UAW on a new national contract are set to begin in July, with the master contract expiring in September. All three have said they need lower labor costs to compete in a global automotive market, mainly with Asian manufacturers.
With Cerberus, it's unlikely that the UAW would remain unwilling to give Chrysler the same health care concessions that it gave Ford and GM, Morgan Stanley analyst Jonathan Steinmetz said in a note to investors.
"Cerberus brings a fresh perspective and likely a stronger backbone to union negotiations," Lehman Brothers analyst Brian Johnson said in a note.
Snow stressed that his company respects organized labor, the first public sign of a courtship that will likely continue in the months ahead.
"I think Cerberus has a good record of working successfully with companies that are organized and we respect the role of organized labor and we greatly appreciate the support the UAW has given to this transaction," he said.
AP Business Writer Matt Moore in Frankfurt, Germany, and Associated Press writers Ken Thomas in Washington, Corey Williams in Detroit and Emily Fredrix in Kenosha, Wis., contributed to this report.
CHRYSLER TIMELINE
Key dates in the trans-Atlantic takeover that created DaimlerChrysler AG, and its subsequent dismantling, announced Monday.
April 12, 1995: Kirk Kerkorian's Tracinda Corp. makes offer for Chrysler Corp. valuing company at $22.8 billion.
Feb. 7, 1996: Chrysler makes peace deal with shareholder Kerkorian in return for stock buybacks and board seat.
Feb. 12, 1998: Daimler-Benz AG and Chrysler Corp. begin secret takeover discussions.
May 7, 1998: Daimler-Benz's Juergen Schrempp and Chrysler Corp.'s Robert Eaton announce $36 billion takeover that creates DaimlerChrysler AG.
Nov. 17, 1998: DaimlerChrysler U.S. shares begin trading at $84.31.
Oct. 26, 2000: Chrysler posts $512 million loss for third quarter.
Oct. 30, 2000: Schrempp quoted by the Financial Times as saying he never intended a merger of equals but that it was portrayed that way "for psychological reasons."
Nov. 17: Schrempp puts Mercedes-Benz veteran Dieter Zetsche in charge of Chrysler.
Nov. 27: Kerkorian sues company, Schrempp for $9 billion, accusing them of fraud.
Jan. 29, 2001: DaimlerChrysler announces it will cut 26,000 jobs, or about one-fifth of the work force, at Chrysler and idle six plants over the next several years.
April 2005: Cash cow Mercedes Car Group posts first quarterly loss in more than 10 years.
April 7, 2005: Kerkorian loses his fraud suit against the company.
July 28, 2005: Schrempp announces he is stepping down, with Chrysler head Zetsche to replace him on Jan. 1, 2006.
September 2005: Mercedes Car Group announces elimination of 8,500 jobs.
Jan. 24, 2006: Company says it will cut 6,000 white-collar jobs worldwide -- 20 percent of administrative work force.
Sept. 7, 2006: United Auto Workers refuses to grant health care concessions to Chrysler Group.
Feb. 14, 2007: DaimlerChrysler says it won't rule out "any option" including sale of Chrysler. Chrysler says it will cut 13,000 more workers, and close its assembly plant in Newark.
April 4, 2007: Zetsche says company is in talks about future of Chrysler but does not say if it will be sold.
-- Associated Press
Daimler reaches $7.4 billion deal
Company to focus on Mercedes, keep stake in Chrysler
By TIM HIGGINS, Detroit Free Press
Posted Tuesday, May 15, 2007
Chrysler Group President Tom LaSorda (from left), Cerberus Chairman John W. Snow and DaimlerChrysler CEO Dieter Zetsche shake hands before a news conference Monday announcing the sale of Chrysler to Cerberus. AP/MYRIAM VOGEL
DETROIT -- In a deal to end nine unhappy years of marriage between Chrysler and Mercedes, DaimlerChrysler AG announced Monday that it had picked private equity firm Cerberus Capital Management to take a majority ownership in the Auburn Hills, Mich., automaker.
Cerberus, a New York City fund with several ties to the auto industry already, will pay $7.4 billion for an 80 percent stake in the maker of Chrysler, Dodge and Jeep brand vehicles.
DaimlerChrysler AG plans to change its name to Daimler AG, focus on its Mercedes luxury brand, and retain about 20 percent of Chrysler, the company announced.
"We're confident that we've found the solution that will create the greatest overall value -- both for Daimler and Chrysler," DaimlerChrysler chief executive Dieter Zetsche said. "This was a difficult task for me."
The deal does not include job cuts beyond the 13,000 announced in February. "There are no new job cuts planned in connection with this transaction announced today," Chrysler CEO Tom LaSorda said.
It was unclear whether the deal will have any immediate impact on Chrysler's current operations, including the plant in Newark, which builds the Dodge Durango and Chrysler Aspen and is slated for closing in late 2009. It employs more than 1,800 people.
Auto union on board
In a surprising twist, DaimlerChrysler's announcement included a statement from UAW President Ron Gettelfinger showing support for the deal. A member of DaimlerChrysler's supervisory board, Gettelfinger had argued in favor of keeping the company together.
"The transaction with Cerberus is in the best interests of our UAW members, the Chrysler Group and Daimler," Gettelfinger said.
Of the $7.4 billion Cerberus is spending on the transaction, $5 billion will go into the newly created Chrysler Corp. LLC and $1.05 billion will go into Chrysler Financial Services to strengthen the equity base of both businesses. Through the deal, Daimler will receive $1.35 billion.
Daimler will give the new Chrysler a $400 million loan. Chrysler pension and health care liabilities will stay with Chrysler, DaimlerChrysler said.
"We know the path forward will not be easy," Cerberus chairman and former U.S. Treasury Secretary John Snow said as he posed for pictures with LaSorda in Stuttgart, Germany. "We are going to work to make sure the company succeeds and as the company succeeds, it will maximize the opportunities for its workers. ... Our objective here is a successful Chrysler."
Matt Davidson, a worker at Warren (Mich.) Truck, said he's uneasy about the Cerberus deal, but trying to just take change as it comes.
"I've got mixed emotions. I sometimes believe what they're saying, that they want to leave it alone for a while. The next 10 to 12 months will tell. You've just got to try to stay at ease, there's no use worrying about something you have no control over."
Kirk Kerkorian, who tried to buy Chrysler in the 1990s, also made a public bid of $4.5 billion in April but his offer was apparently frozen out because of his contentious past with DaimlerChrysler.
Purchase to be finished in fall
DaimlerChrysler's management board approved the deal with Cerberus on Monday and it still requires the company's supervisory board, the equivalent to a board of directors, to sign off on it. The deal requires regulatory approval. DaimlerChrysler expects it to be finalized this fall.
DaimlerChrysler's announcement comes nine years after Daimler-Benz AG and Chrysler Corp. united at the cost of around $36 billion in what at the time was called a "marriage made in heaven." It was an uneven marriage to begin with between luxury car and mass-market car-makers that never developed into a true meshing of synergies as promised.
German shareholders eventually grew unhappy, especially after Chrysler posted its losses in the third quarter of last year. In 2006, Chrysler posted an operating loss of $1.5 billion, a number recently restated to $680 million because of accounting changes.
At the stockholders' annual meeting in Berlin last April, the message was clear: Divorce.
Most analysts agree that any buyer will need dramatic concessions from the UAW in order to make a deal work. The unions have voiced their strong opposition to private equity firms in the auto business, and the UAW has already taken some blame from analysts for DaimlerChrysler's decision to sell Chrysler. Zetsche has been vocal about his frustration with the UAW for not giving Chrysler the same kind of health care concessions it gave Ford Motor Co. and General Motors.
Gettelfinger has said the union was never presented with financial information that showed Chrysler was going to lose money in 2006. DaimlerChrysler as a whole made $5 billion in net profit last year. It's been estimated that the U.S. division has nearly $20 billion in pension and health care liabilities.
News Journal staff reporter Luladey B. Tadesse and The Indianapolis Star contributed to this story.
PARENT COMPANY
A look at automaker DaimlerChrysler AG, the product of a $36 billion takeover of Detroit's Chrysler Corp. by Germany's Daimler-Benz AG in 1998. DaimlerChrysler announced Monday it is selling 80.1 percent of Chrysler to private equity firm Cerberus Capital Management LP.
HEADQUARTERS: Stuttgart, Germany, and Auburn Hills, Mich.
SALES: $200.1 billion for 2006.
EMPLOYEES: 382,000.
PRODUCTS: 4.4 million vehicles per year, including Mercedes and Maybach luxury cars, SUVs and commercial vehicles; Chrysler, Dodge and Jeep brands in the United States; Smart compact cars; and Freightliner heavy trucks.
OTHER BUSINESSES: Owns 15 percent stake in European Aeronautic Defence & Space Co. NV, the parent company of airplane maker Airbus. Affiliate Detroit Diesel makes medium- and heavy-duty diesel engines.
Private firm's purchase raises more questions about Chrysler's future.
Posted Tuesday, May 15, 2007
OUR VIEW
The Chrysler-Daimler union is over. Now people are saying it was doomed from the start. Others are saying they always disliked one of the partners in the 9-year-old relationship.
Chrysler, if the deal goes through as expected, will be picked up by Cerberus Capital Management, a private equity firm that will not have to operate by the same rules and economic restraints that hem in auto manufacturers like Daimler.
Cerberus, for example, also owns a majority share in GMAC Financial Services. Chrysler Financial has been doing well despite the problems of the rest of the company. Is that Cerberus' real target?
Or does Cerberus plan to break apart what remains of Chrysler and so off units to other companies? That has been Cerberus' specialty until now.
So far it appears the deal will not affect Chrysler's downsizing plans, such as cutting jobs or closing the Newark plant.
But it's too early to tell what will happen. John W. Snow, Cerberus' chairman, said the deal will allow Chrysler to become a leader again. A lot of that will depend upon on how Cerberus and the United Auto Workers get along. Private equity firms are about making money, not saving jobs.
Mr. Snow also said since the company is private, Chrysler's leaders will be relieved of answering to Wall Street every quarter and thus concentrate on rebuilding. Lifting that kind of pressure could help if the plan is actually designed to go through with a revitalization move.
StoryChat Post a Comment
Any thoughts on how this (Kerkorian bid for Chrysler) plays out in the short term? I have small potatoes odd lot (from Chrysler, from American Motors...) - wondering if I should sell the news. I don't follow Daimler-Chryler anymore, and plowing through big company financials is tedium.
Board seems abandoned...
It's "tough" looking...I like it.
what do you think of the trailhawk?
I have a 2005 right hand drive jeep
Chrysler at the Auto Show
I love the new Jeep and the NASSAU!
http://www.chrysler.com/autoshow/
I hate to see our BIG industries going to foreign hands- again!
GM might fall into foreign hands.Looks like Renault has the cash and "savoir faire" to save the 'General'.
I just saw where CSI (TV Show) was using them also. I guess once you see it the first time, you notice it everytime.
Hello everyone. I’m from Pennsylvania and have noticed Delaware and Maryland both using Dodge’s Charger for their State Police cars. Any thoughts as to what this might do to the stock?
Be well.
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