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#1
05-01-2008, 12:10 PM
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Daimler reduces book value of Chrysler stake by two-thirds
Filed under: Chrysler, DaimlerChrysler, Mercedes Benz, Earnings/Financials
 Daimler may have divested 80.1% of its ownership in Chrysler, but the German automaker is still feeling pain from the Pentastar. The value of Daimler's portion of Chrysler has dropped from $2.18 billion to $852 million not even a year after the two parted ways. The loss of nearly $1.4 billion in value is a fair chunk of change, even for the mighty Daimler, but the news is not all bad for company shareholders. If Daimler hadn't sold Chrysler to the private equity firm Cerberus as fast as it did, the automaker's stock would likely be in much worse shape. Since the privately owned Chrysler, LLC doesn't have to report earnings, it claims that its fiscal standing is all peaches and cream. According to Chrysler, the company has had positive earnings since it was bought out by Cerberus last year. The official line that explains the discrepancy with Daimler's reporting is that U.S. accounting rules are much more favorable than those overseas. Damn accountants. [Source: Automotive News - subs. req'd] Read | Permalink | Email this | Comments More...  2008-05-01T11:34:00+00:00 
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#2
05-01-2008, 12:17 PM
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If Chrysler doesn't have to report earnings where did these figures come from?
__________________
" We have nothing to fear but the main stream media itself . . . ."- Adapted from Franklin D Roosevelt for the 21st century  OBK #55 1998 Lincoln Continental - Sold Max 1984 300TD 285,000 miles - Sold The Dee8gonator 1987 560SEC 196,000 miles - Sold Orgasmatron - 2006 CLS500 90,000 miles 2002 C320 Wagon 122,000 miles 2016 AMG GTS 12,000 miles
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#3
05-01-2008, 02:49 PM
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Quote:
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1982 240 D, 308,000 - 321,127 miles (sold) 1982 300 TD,166,500 - 226,000 miles 1998 E 320, 120,000 - 144,000 miles 2005 C 230 K, 26,000 - 77,000 miles (sold)
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#4
05-01-2008, 04:42 PM
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I realize that. What I meant is how do you establish the value of a privately traded company. Before, the stock market ascribed a value to it. That's like me saying my car is worth this much. A more reliable measure would be how much someone else is willing to pay me for my car.
Their statement sounds a little like, "This piece of crap company we bought ain't worth squat anymore."
__________________
" We have nothing to fear but the main stream media itself . . . ."- Adapted from Franklin D Roosevelt for the 21st century OBK #55 1998 Lincoln Continental - Sold Max 1984 300TD 285,000 miles - Sold The Dee8gonator 1987 560SEC 196,000 miles - Sold Orgasmatron - 2006 CLS500 90,000 miles 2002 C320 Wagon 122,000 miles 2016 AMG GTS 12,000 miles
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