Daimler At long last Cuts Unfastened From Chrysler, Loses $1.8B in Q1
Believe you had a uneve Monday? Daimler's was worse.
It started the daytime near giving up entirely on Chrysler . Daimler held on to 19.9 percent of Chrysler in hopes of salvaging its calamitous combination. Admirably, that didn't labour away too admirably, so Daimler agreed to present up its left over shares to Cerberus. Daimler also forgave $700 in loans it made to Chrysler and agreed to give $400M to Chrysler 's benefit plans above the next two years. Ouch.
Later in the daytime, Daimler announced that it had gone $1.86 billion in the foremost fourth of 2009. Daimler had already written away its stick in Chrysler , so those losses aren't smooth of the outcome of the earlier agreement.
So there you possess it, the Daimler combination with Chrysler is officially a catastrophe from start to stop. Pleasant concept, Juergen Schrempp, desire you're enjoying retirement.
