Kirk Kerkorian, once the biggest shareholder of Chrysler Corp., has reportedly sent a letter to DaimlerChrysler offering to buy the struggling automaker back for $4.5 billion. Kerkorian’s offer for Chrysler seems to have strengthened the position of DaimlerChrysler in the sale of its US subsidiary, sending the German parent’s shares to their highest level since [...]
Representatives of billionaire investor Kirk Kerkorian’s Tracinda Corp., which has proposed a $4.5 billion for acquiring DaimlerChrysler AG’s Chrysler Group, met with United Auto Workers members who have independently proposed an employee-stock-ownership plan for Chrysler. The meeting, in Toledo, Ohio, though did not yield any decisive conclusions, but it certainly stamped a new twist in [...]
The profit of Toyota seems to have come down as employees with its U.S. plant seek unionization. Toyota is world’s leading carmaker, which recently grabbed world No. 1 cap from the Detroit-based GM, and is paying an average $47.60 per hour to its workers, whereas Detroit-based automakers viz. GM, Ford and Chrysler are paying $73.26, [...]
