Daimler

Who hasn't had a Walter Mitty daydream of roaring over the open road in a Mercedes-Benz with the top down, a beautiful companion at your side, and the speedometer standing slightly off the century mark? These elegant driving machines that have been synonymous for over 100 years with luxury, affluence and power politics are the subject of Apex of Glory: Benz, Daimler & Mercedes-Benz 1885-1955, a recently published book written by Blaine Taylor of Towson. The book, which tips the scales at a little over 4 pounds and includes 450 photographs of the fabled cars, will send the most dyed-in-the-wool Mercedes fan over the top. Of the vehicle's birth, Taylor writes, "The car ... had been invented jointly but separately by German entrepreneurs Carl Benz and Gottlieb Daimler in 1885, and their firms remained fierce rivals until their unexpected merger in 1926."

While growing up in a well-to-do Richmond, Va., family, Rob Levit never knew quite what to do with the surge of energy he often felt racing through him like a current. He hadn't mastered an instrument or learned to paint. He had no hankering to write. So he did the only thing he could think of. He became the class clown. "I was always getting in trouble," says Levit, 44, an improvisational jazz guitarist with 15 music CDs and an international performing career to his credit.

FRANKFURT -- For decades, Germany's industrial giant Daimler-Benz AG has been virtually impregnable to unwanted investors. Those days are now over.Daimler-Benz has decided to open its shareholder roll, both through a stock listing in the United States and by scrapping the Mercedes AG Holding, its main defense against unwanted predators."

BERLIN -- DaimlerChrysler AG insists it is keeping all options open for the future of the Chrysler Group. But judging by its tense annual meeting here yesterday, Daimler's marriage to Chrysler is already finished, except for the ink on the divorce papers. Trying to placate restive shareholders, DaimlerChrysler confirmed for the first time that it was in negotiations with a number of bidders about a deal for the troubled American unit, which lost $1.5 billion last year. "We are talking with some of the potential partners who have shown a clear interest," the chief executive, Dieter Zetsche, said.

STUTTGART, Germany - DaimlerChrysler AG said yesterday that it has fired two Mercedes Car Group executives and is investigating others concerning "irregularities" at the German sales division. The Stuttgart prosecutor's office said it is investigating DaimlerChrysler employees for possible breach of trust. The automaker said March 1 that it had replaced Juergen Fahr, head of German sales for Mercedes Car Group and the Maybach brand. A Daimler- Chrysler spokeswoman, Ursula Mertzig, said yesterday that Fahr and Walter Missing, head of the Mercedes office in Hamburg, had been fired.

AUBURN HILLS, Mich. -- DaimlerChrysler AG says it will use its purchasing power to help dealers cut costs, and unveiled an advertising campaign touting its "Five Star" outlets, which meet standards the No. 3 automaker in the United States set for customer service and facilities. DaimlerChrysler plans to start in Indianapolis late this year a program that would let its dealers use the automaker's leverage in buying such things as health care, telephone and financial services and supplies.

DAIMLER-BENZ's acquisition of Chrysler Corp., while startling in size, does not herald a new era in global capitalism. Mergers between European and American companies have been taking place for some years. As corporations look to improve their earnings and streamline their operations, future cross-border mergers will involve large enterprises in every industry.By any measure, the Daimler-Chrysler marriage is gigantic. The deal is worth $39 billion. It will create a company with 420,000 employees, annual sales of $130 billion and profits of $4.6 billion.

The cat is out of the bag. DaimlerChrysler AG, the world's third-largest vehicle-maker formed in the merger of Daimler-Benz AG and Chrysler Corp., was introduced as a "merger of equals" in 1998. Yeah, right. Top executives of the merged companies spoke proudly of the potential of the new partnership and how each side would benefit. Few believed them. Chrysler was in a tailspin and Daimler-Benz, the buyer, would run the company. Cut to 2006. Mustachioed DaimlerChrysler Chairman Dieter Zetsche is all over the airwaves and Internet as the firm's deadpan spokesman.

STUTTGART, Germany -- DaimlerChrysler AG may buy a one-third stake in Mitsubishi Motors Corp., Japan's fourth-largest automaker, as soon as next month, people familiar with the situation said. DaimlerChrysler, the world's fifth-largest automaker, wants greater access to Asia, which is expected to be the world's fastest-growing market this decade. Rivals General Motors Corp. and Ford Motor Co. have partners in the region. "For DaimlerChrysler, MMC is pretty much the last partner available to improve its access to Asian markets," said Chris Richter, an analyst at HSBC Securities Japan Ltd. "What MMC gets is a reasonable shot at survival."

STUTTGART, Germany - DaimlerChrysler AG lost the support of Goldman Sachs Group Inc., which arranged Daimler-Benz's $35 billion takeover of Chrysler two years ago, as the investment bank cut its recommendation and profit forecast for the German automaker yesterday. DaimlerChrysler, facing losses at its U.S.-based Chrysler unit, was downgraded to "market perform" from "market outperform" on concern about rising costs. With its shares falling 33 percent this year, some investors have lost patience.