Van, Bus, Others
“Van, Bus, Others” that’s the account name where you’ll find Daimler’s investment in Chrysler when their first standalone financials come out. Some bitter Chrysler people will not hesitate to tell you that’s where billions in Chrysler capital was re-allocated by Daimler during its ownership. So maybe the balance sheet account name is very appropriate indeed. I know Dr. Z and Daimler management was anxious to dump Chrysler and the same can be said for many Germans who always felt their beloved brand was cheapened by the ugly American division. Certainly, investors in DCX have voted their approval…just look at the massive market cap bump that the company has received since announcing its intention to get rid of Chrysler. As I was reading through Daimler’s Press Release and some of the terms of this deal, I kept hearing the comments by the parties involved who said this was the best deal they could get. If netting out $700 million and offloading the $19 billion in health and pension obligations was the best they could get, how bad were the deals from Magna, Kerkorian and others? I know DCX shareholders are still basking in the glow, but I wouldn’t be surprised to see some criticism. Is it too late to listen to better offers?

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