Posts tagged "daimler ag"

Daimler to Temporarily Suspend Production

According to reports from Berlin, Daimler AG (NYSE: DAI) plans to suspend its auto production from December 11 to January 12 due to weak auto sales. The auto maker has issued a profit warning on full-year earnings after posting a profit of $273.5 million in the third quarter, reversing a net loss of $1.9 billion...

Cerberus Buys Majority Stake in DaimlerChrysler

Private equity firm Cerberus Capital Management is purchasing a controlling stake in the Chrysler division of DaimlerChrysler, which is selling 80 percent of the Chrysler Group for $7.4 billion. The financial genius' at Daimler purchased Chrysler for $36 billion in 1998. The following is a summary of the deal from DaimlerChrysler.com: Affiliate of Cerberus to...

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