Daimler values their 19.9% stake in Chrysler at $0

[XDCX]

News reports indicate that Daimler has taken a charge against earnings and now values their 19.9% stake in Chrysler at $0.

That's right, 19.9% of Chrysler is valued at $0 - it's worthless.

They had previously valued their interest in Chrysler at only $219 Million so it's not a huge write-down but it still fosters speculation on why they decided to take the charge now. Daimler would not elaborate on how they arrived at the $0 valuation or why they chose this quarter to conclude the write-down.

Here's a link to the news report: http://www.detnews.com/apps/pbcs.dll...30438/1001/BIZ

[ssdd]

Wow, That's funny it's worth the same as our franchises!!!

wonder how they like it...

[XDCX]

Originally Posted by ssdd

Wow, That's funny it's worth the same as our franchises!!!

wonder how they like it...

It's amazing how much things have changed since the beginning of the Daimler/Chrysler merger.

I remember going to a Dealer Meeting where Tom Pappert boasted that "any dealership with a Pentastar hanging on it was worth at least $1 Million Blue Sky."

That's probably one of the main reasons I always respected Pappert - he seemed happy that the dealers were profitable and successful. He also had the incredible ability to deliver bad news to the dealer body in a way that everyone felt that they were sharing the tough times together.

Sadly, it just doesn't feel like that today.