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westphalia1
Kirk Kerkorian is the nail in the coffin for Detroit autos?
Kirk Kerkorian is supposedly going to become the majority shareholder of Daimler Chrysler. The west coast billionaire first appeared on the Detroit scene in 1988. Not long after, the casinos soon followed. I don't see any future to the Michigan Auto industry if they can't come up with someone better than him.
OK, if you say so. What was the question? I guess I missed it.
sarge927
The Michigan auto industry is in the last stages of terminal illness. It's only a matter of time before Toyota takes over as the #1 auto manufacturer in the world and the Big Three aren't even in the Top 3 anymore. But hey, if it means the UAW goes the way of the dodo, then it's a good thing.
rjm96
The Chrysler situation is ashame. Mercedes lost more money on the smart car business then Chrysler, yet they get the ax. Mr. Kerkorian smells a deal, $5B is undervalue.
That is the only reason he is snooping. The legacy costs are huge, and the price will be much higher I think. I would hate to see it go to an investment firm, I am hoping Magna picks up some or all. Some of the best car designs of the decade have
come from Chrysler. Anybody but an Asian interest, that would be worse then Kirk.
Herschel K
He's probably the savior, if the UAW would put aside their decades old rhetoric and deal with the fact that the "good old days" are over.
leontron
You're right there.
When he held a big stake in GM he suggested a merger with Nissan, which would have been bad news for all companies involved. The problem is he's a finance man, and in order to succeed a car company need to have product men (car guys) at the top. Carlos Ghosn cares about the cars he makes, which is why he turned Nissan around so well.
It's not all about money, even though many car companies are losing massive amounts of it