- Apr 10, 2009
REPORT: If Chrysler goes down, it could cost Daimler $1 billion
According to the Detroit Bureau, Bodo Uebber, Daimler's Chrysler guy, reported recently that concerned shareholders are rightfully nervous, as Daimler could be stuck with a $1 billion liability if Chrysler ist kaput. Unfunded pensions and potential claims from suppliers could result in very bad things for Daimler. Cerberus and the German automaker are also duking it out over whether Chrysler's health was honestly disclosed at the time of the deal, tying up any developments with the remaining 19.9 percent of Chrysler that Daimler still owns. Both Uebber and Dieter Zetsche, Daimler's CEO, are actively trying to unload the company's stake in Chrysler to Cerberus, but predictably, that conversation isn't going anywhere at the moment.
[Source: The Detroit Bureau | Image: Bill Pugliano/Getty]