Your Opinion: Should Kirk Kerkorian buy Chrysler? - Ford Inside News Community
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post #1 of 3 (permalink) Old 02-28-2007, 02:26 PM Thread Starter
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Your Opinion: Should Kirk Kerkorian buy Chrysler?

Your Opinion: Should Kirk Kerkorian buy Chrysler?

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The Chrysler Building and the Pentastar logo, symbols of former Chrysler glory days.

Kirk Kerkorian and Tracinda Corporation did try to get their hands on Chrysler for the longest time. In an effort to protect Chrysler's integrity from a hostile take over by the legendary corporate raider, who would certainly had dismembered Chrysler or at least sold the Jeep brand which was about the only worthy assets in Chrysler's hat, Chrysler's stoogy management lead by one Bob Eaton saw fit to fall in the hands of Jurgen Schremp and Daimler Benz. To help of unions, dealers, other shareholders and the American public at large (and some said Eaton himself who seemed to be living in a paralel universe) this takeover was touted as a "merger of equals" and thus the Benz last name was replaced by Chrysler in the corporate denomination. But that was about it, the Germans were in control, the American were merely decoration.

Kerkorian of course saw through that as the whole transaction (at least from Chrysler's side) was orchestrated to keep is hands away from Chrysler. But it was an arrogant interview given by Schremp (who was finally fired by the all mighty Supervisory Board and replace by the then loved but now hated Dr. Z) acknowledged that the Chrysler dear was a take over and not a merger (duh!), giving Kerkorian and other shareholders legal grounds to sue D-C for fraud. The shareholders got $300 million thruough a sttlement, Kerkorian got zap and left the picture as a beaten dog. End of story? not quite.

The Chrysler group is hemorraging dough, Schremp is history and now Daimler wants Chrysler out. Now the last line of salvation for what is called today the Chrysler Group may lay in the hands of Kerkorian. GM may be in, and then may not be in, Hyundai said they want nothing to do with any of this. Ford with its ever shrinking market share may be a natural mate but they don't hae a red cent were to drop dead today. But Kerkorian with his almost maginc hability to raise cash and his fierce desire to own a car company and fueled by the primal desire to take revenge may be the only hope to keep Chrysler American (if only for a few days) But remember this is pure especulation and Kerkorian or Tracinda so far have not said a word about this mess (that I know of). And there is always the possibility that Mr. K may not be too keen to give his hard earned cash to Daimler who is the seller of its "equal", but on the other hand bussiness is bussiness and Mr. Schremp, Kerkorian's nemesis, is out of the picture. So who knows?

To think that Lee Iaccoca wrote in his book that The Chrysler Corporation under his command once contemplated the possibility of acquiring GM. This is a strange and fascinating world indeed.

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post #2 of 3 (permalink) Old 03-01-2007, 04:16 AM
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I'm gonna say yes. I think he might be able to do a better job with Chrysler than anyone else. Not to mention that it (Chrysler) would be an American brand again.

He can't do much worse than the Germans, that's for sure.

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post #3 of 3 (permalink) Old 03-01-2007, 01:36 PM
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Kirk has not interest in being a real businessman. His specialty is taking companies and selling their parts.
I would Say GM is probably the best way for Chrysler to go. But a sort of Equity holding maybe 45% with Chrysler remaining independent, other than developing shared technologies such as Hybrids, Gearboxes, XM radios etc... but keeping the product DNA free of each other.
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