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By Donald Woutat and Donald Woutat,Los Angeles Times | March 14, 1992
DETROIT -- It seemed inevitable that Lee A. Iacocca would not leave Chrysler Corp. in an orderly fashion, and now evidence of a boardroom quarrel over who will succeed him as chief executive is spilling awkwardly into the open.Members of Chrysler's board are reportedly to meet in New York this weekend in hopes of hastening the selection of a successor. The 68-year-old Mr. Iacocca has said that he will retire as chief executive at the end of this year.Speculation has centered on various combinations of the three top posts at the company: chairman, chief executive and president.
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BUSINESS
By New York Times News Service | February 20, 2007
FRANKFURT, Germany -- Not since Juergen E. Schrempp announced that he was stepping down 18 months ago has there been this much interest in the stock of DaimlerChrysler AG. Whether there might be as much interest in a Chrysler spinoff remains to be seen. U.S. and foreign auto companies, private equity groups and investment banks are eager to take a look at the struggling company's financial data. Shares of DaimlerChrysler rose in European trading yesterday for a fifth straight session and have gained 5.5 percent since the company said Wednesday that it was keeping "all options open" in considering the future of Chrysler.
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NEWS
By Ted Shelsby and Ted Shelsby,Staff Writer | March 3, 1992
Chrysler Corp. and the local unit of Westinghouse Electric Corp. are expected to announce today that they will team up on the development of an electric vehicle that could turn the corner toward the next generation of automobiles.Westinghouse declined to comment on the planned announcement, but Tom Kowaleski, a spokesman for Chrysler in Detroit, said the joint development program could advance the technology needed to bring about production of the electric vehicle.The Big Three automakers have tried for more than 15 years to develop electric cars.
BUSINESS
By ANDREW LECKEY | April 24, 2005
I own shares of DaimlerChrysler AG and am concerned about what the future may hold for the company. What's your opinion? - R.L., via the Internet When Daimler-Benz AG and Chrysler Corp. merged in 1998 to create the world's fifth-largest automaker, top boss Juergen Schrempp boldly predicted the company would become the world's most profitable carmaker. Toyota Motor Corp., however, still holds that top spot. Meanwhile, the market value of DaimlerChrysler shares has fallen about 50 percent since the merger, and is down 15 percent this year after a gain of 4 percent last year.
BUSINESS
By Ted Shelsby and Ted Shelsby,Staff Writer | June 12, 1992
Chrysler Corp. and the local Westinghouse Electric Corp. division have two new partners -- Baltimore Gas and Electric Co. and the state of Maryland -- in their previously announced plan to develop a commercially viable electric car.The four partners said yesterday that they have joined to form the Chesapeake Consortium to coordinate research, resources and technology to design and develop electric vehicles.The consortium has applied for a $4 million federal grant from the U.S. Department of Transportation.
BUSINESS
By Joann Muller and Joann Muller,Knight-Ridder News Service | March 17, 1992
DETROIT -- Robert Eaton is the first to admit he's no Lee Iacocca."First of all, I'm a lousy writer," said Mr. Eaton, 52, who was chosen to succeed the charismatic chairman of Chrysler Corp., author of two best-selling books."Lee's Lee and I'm me and we're a little bit different," said Mr. Eaton, who said he doesn't crave -- and doubts he'll ever achieve -- Mr. Iacocca's kind of national prominence.Nor is he likely to don a trench coat to star in Chrysler television commercials."I doubt if I would have the appeal that Lee has in commercials," Mr. Eaton joked during his first news conference since being named Chrysler's vice chairman and chief operating officer yesterday.
BUSINESS
By Ted Shelsby and Ted Shelsby,SUN STAFF | June 8, 1998
SUMMIT POINT, W. Va. -- Your next car just might have a body made of the same plastics used in beverage bottles, get 80 miles to a gallon of fuel and feature a humidor to keep your stash of cigars fresh.These are some of the early 21st-century technologies demonstrated by Chrysler Corp. "concept" cars at the Summit Point Raceway track here.While the vehicles didn't set any lap records, Chrysler officials say there is no question that the auto industry is in a competitive race to bring new technologies to market.
NEWS
July 28, 1991
George H. Love, 90, who simultaneously headed the boards of Chrysler Corp. and Consolidation Coal Co., died Thursday in Pittsburgh. Mr. Love was credited with turning Chrysler around during his chairmanship from 1961 to 1966.
BUSINESS
July 21, 1994
GM agrees to sell businessGeneral Motors Corp. has signed a definitive agreement to sell all of its starting motor, remanufacturing and forge businesses run by its former Delco Remy division to a venture-capital company headed by former Chrysler Corp. President Harold K. Sperlich. GM had intended to keep a 20 percent stake in the business under a memorandum of understanding signed in November.
BUSINESS
By Ted Shelsby and Ted Shelsby,SUN STAFF | May 17, 1996
Chrysler Corp. brought its annual shareholders meeting to Towson yesterday with a minivan full of good news for local investors.Robert J. Eaton, chairman and chief executive, opened the meeting at the Sheraton Baltimore North Hotel by announcing that Chrysler's board had approved a 2-for-1 stock split and raised the dividend by 16 percent.An hour and 45 minutes later, Eaton interrupted the question-and-answer session of the meeting to tell investors that their stock had already risen $1.625 to $66.50.
BUSINESS
By BLOOMBERG NEWS | June 3, 2003
WILMINGTON, Del. - A Daimler-Benz AG executive's notes written three months before the company combined with Chrysler Corp. describe a takeover rather than a merger, according to documents released last month in a federal court in Delaware. The notes, from strategy chief Ruediger Grube, conflict with the public statements of executives in later months and may support assertions in a lawsuit by billionaire investor Kirk Kerkorian and other shareholders seeking up to $15 billion from DaimlerChrysler AG. They say chief executive Juergen Schrempp and other executives gained control and avoided paying a takeover premium by calling the 1998 transaction a merger of equals.
BUSINESS
By Ted Shelsby and Ted Shelsby,SUN STAFF | December 24, 2000
It seemed like the perfect corporate marriage: Chrysler Corp., one of the most profitable and cost-efficient automakers in the world, hand-in-hand with Daimler-Benz AG, Germany's renowned producer of luxury cars and heavy-duty trucks. The $31 billion stock deal was billed as a merger of equals, forming a combination that would create an international automotive company. The creation of the world's fifth-largest auto company was to open the doors for Chrysler into the Japanese market and help Daimler-Benz fulfill its hopes of expanding its presence in Latin America, especially Mexico, where Chrysler has a significant presence.
BUSINESS
By Ted Shelsby and Ted Shelsby,SUN STAFF | June 8, 1998
SUMMIT POINT, W. Va. -- Your next car just might have a body made of the same plastics used in beverage bottles, get 80 miles to a gallon of fuel and feature a humidor to keep your stash of cigars fresh.These are some of the early 21st-century technologies demonstrated by Chrysler Corp. "concept" cars at the Summit Point Raceway track here.While the vehicles didn't set any lap records, Chrysler officials say there is no question that the auto industry is in a competitive race to bring new technologies to market.
BUSINESS
By BLOOMBERG BUSINESS NEWS | December 6, 1996
AUBURN HILLS, Mich. -- Chrysler Corp. said yesterday that it will double its planned 1997 stock buyback to $2 billion and JTC boost its dividend by 14 percent. The moves underscore the automaker's robust performance and continuing optimism despite signs of an industry slowdown.Chrysler's focus on high-profit minivans, pickup trucks and sport utility vehicles has allowed the company to post record earnings this year. Its sales are up almost 14 percent, far outpacing the industry's 2.4 percent gain.
NEWS
By Cal Thomas | September 27, 1996
WASHINGTON -- Once during the Middle Ages disgruntled students at the Sorbonne advanced to the lectern, stabbed their professor to death with their quill pens and wrote out their grievances with his blood. Now that's real education reform!Chrysler Corporation President Robert Lutz also wants reform, though less radical than the Sorbonne affair.In a speech to the governor's "education summit" in Michigan, Mr. Lutz said it is time to stop fooling ourselves about government schools. They are not doing the job we are paying for and are unlikely to improve unless education follows the example of business and engages in competition.
BUSINESS
By BLOOMBERG BUSINESS NEWS | May 30, 1996
DETROIT -- Nissan Motor Co. and other Japanese companies remain the most efficient automakers in North America, but U.S. automakers, led by Chrysler Corp., continue to make more profit on each vehicle, an annual study has found.The study was released yesterday by Harbor and Associates, a Troy, Mich., consulting firm.For the third straight year, Nissan was the most productive North American manufacturer, using an average of 2.09 workers to build a vehicle at its Smyrna, Tenn., plant last year.
BUSINESS
April 12, 1995
Trump selling share in the PlazaDonald Trump is selling a controlling interest in the Plaza Hotel, a landmark adjoining New York's Central Park, to a Saudi Arabian prince and a Singapore-based hotel company.The deal, announced yesterday in Singapore, caps months of speculation about the Plaza, one of New York's most prestigious addresses.CDL Hotels International Ltd., the hotel arm of Singapore Hong Leong Group, said it has formed a joint venture with an entity controlled by Saudi Arabian Prince Alwaleed bin Talal bin Abdulaziz Saud.
BUSINESS
July 11, 1995
A brief in yesterday's Business section incorrectly reported details of the planned cutbacks at Chrysler Corp.'s Newark, Del., plant. The company and the United Auto Workers are still negotiating, and the impact on employees remains unclear.The Sun regrets the error.Chrysler to cut 1,600 Del. workersChrysler Corp. said it will fire 1,600 workers and take a $143 million charge against second-quarter earnings to cut one shift at a car plant in Newark, Del.The unexpected 36-cent-a-share charge will take Chrysler's earnings 32 percent below analysts' estimates.
BUSINESS
By Ted Shelsby and Ted Shelsby,SUN STAFF | May 17, 1996
Chrysler Corp. brought its annual shareholders meeting to Towson yesterday with a minivan full of good news for local investors.Robert J. Eaton, chairman and chief executive, opened the meeting at the Sheraton Baltimore North Hotel by announcing that Chrysler's board had approved a 2-for-1 stock split and raised the dividend by 16 percent.An hour and 45 minutes later, Eaton interrupted the question-and-answer session of the meeting to tell investors that their stock had already risen $1.625 to $66.50.
BUSINESS
By Ted Shelsby and Ted Shelsby,SUN STAFF | March 8, 1996
Towson will become Motor City, U.S.A., for one day in May when Chrysler Corp. brings its annual meeting of shareholders to town."We rotate the meeting every year and move it to where we have a substantial number of stockholders," Lori McTavish, a Chrysler spokeswoman in Warren, Mich., said yesterday. "This year it's your turn."According to Chrysler, Maryland ranks among the top 15 states with the greatest number of individual stockholders. Other states lTC on the list include New York, Michigan, California, Texas, Pennsylvania, New Jersey and Missouri.
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