Posted by MoparNorm on Wednesday, November 28, 2007 at 12:21:58 :
In Reply to: Re: They'll survive as a brand name posted by David N. Lundstrom on Wednesday, November 28, 2007 at 11:08:44 :
I have high hopes for the new company, contrary to what has been printed here, Cerberus (and yes they regret the naming, he was about 19 years old when he came up with that name) is NOT your typical slash and burn investor. They own dozens of brand name companies that you'd be surprised to know about and they have over 60 billion in annual net income.
(As a matter of fact they own Air Canada and 250 Burger King restaurants, full list below)
The good news is that have hired the best and brightest Americans from Toyota, Nissan and Lexus to turn around the company.
Jim Press, the highest ranking American at any foreign car builder, came from Toyota. Two weeks after he was hired, he sat in the Chrysler line for the first time, "what's with these hard ugly dashes?" he is reported to have said. Withing a matter of days, the former head of Chrysler's quality control, was demoted to the supply room and Press had hired the head of Nissan's quality control program as the new head of Chrysler's quality control. Within days the dash finish materials had been changed. That is unprecedented in Detroit, where it normally takes three years to decide where to place a light switch.
Chrysler now has public blogs on their corporate web site. You can give feedback and they will actually respond to you, it's great!
The new Lifetime warranty, the big move to Hemi/hybrids and small diesels will shake up the auto industry. They have just unveiled Jeep, Dodge, and Chrysler concept's that get over 150 miles per gallon.
There are some serious issues with financing the 4 billion dollars for the buyout, but if they get past that hurdle, the future will be bright.
Cerberus is in it to make Chrysler, profitable for the long term.
Cerberus Companies:
ACE Aviation Holdings
AerCap Aviation Solutions
Annexus
Aozora Bank Ltd.
ATC Group Services, Inc.
Bank Leumi
BAWAG P.S.K.
Blue Bird
BlueLinx
boxclever
Chrysler
CTA Acoustics
GMAC Financial Services
GSW Berlin GmbH
Guilford Mills
Handel-Kredit Bankhaus
IAP Worldwide Services
Inovis
Kokusai Kogyo KK
LNR Property Corporation
NewPage Corporation
North American Bus Industries
NewPage Corporation
Peguform Group
Rafaella Apparel Group
Scottish RE
Showa Jisho Co. Ltd.
CML International Holdings, LLC
Spyglass Entertainment
Strategic Restaurant Acquisition Group
Talecris Biotherapeutics
Torex Retail Holdings Limited
TTL Equipment Management