While Daimler (Mercedes Benz's holding company) had sold majority of its stakes to Cerberus (the private holding company that now wants to sell off Chrysler as well), Daimler still holds 19.9% of Chrysler's shares, which just a year back was worth some $1.7 Billion dollar. Guess what? Daimler now mentions that in their accounting terms, Chrysler in real world terms is worth less than what you pay for a doughnut, or half of it for that matter. The German auto giant would prefer just letting it go than holding it and bearing 19.9% of its losses.
Sunday, October 26, 2008
Want 19.9% of Chrysler? Third largest automaker in US? It could be yours for FREE!
While Daimler (Mercedes Benz's holding company) had sold majority of its stakes to Cerberus (the private holding company that now wants to sell off Chrysler as well), Daimler still holds 19.9% of Chrysler's shares, which just a year back was worth some $1.7 Billion dollar. Guess what? Daimler now mentions that in their accounting terms, Chrysler in real world terms is worth less than what you pay for a doughnut, or half of it for that matter. The German auto giant would prefer just letting it go than holding it and bearing 19.9% of its losses.
Subscribe to:
Post Comments (Atom)
