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Jim Press: It's all speculation, Chrysler is going to stay here

omarrana submitted on 10/23/2008 Official Bell & Ross Timestamp: 9:26:28 AM

6 user comments | Category: Misc News | Source: | SOURCE: www.egmcartech.com

Tag Link: Chrysler

Jim Press, ex-Toyota executive and now Chrysler’s Vice Chairman and President is downplaying talks that Chrysler is being shopped by its owners Cerberus.

Press called the reports being made by the media “speculation.”

“There is a lot of distraction in our industry that is fueled by speculation. All I ask is stop reading the newspaper,” said press when speaking to auto industry workers at Convergence 2008.

He said Chrysler has changed its...

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Jim Press: It's all speculation, Chrysler is going to stay here

About the Author

omarrana

I hooked up my accelerator to my brake lights. I hit the gas, people behind me stop, and I'm gone.

— omarrana (View Profile)


User Comments

veyron1001

Or should just close down and become a permanent parts manufacturer.

— veyron1001 (View Profile)

Posted on 10/23/2008 12:44:50 PM | reply to this comment | Votes: -2   

1990300zxTT

nobody cares what you think...ur obnoxious and ur a s**thead.

nobody cares if they go out of business? i think the US gov't cares. they want all the north american companies to stay in business moron. ur a moron. still suckin on ur mommy's you know what? poor child..

anyways bimmers are crap cars. chris bangle is a crap designer and has a vision of a child... which is basically nothing. suck on your pacifier slapnut.

— 1990300zxTT (View Profile)

Posted on 10/23/2008 4:10:51 PM | reply to this comment | Votes: 2   

LACMAN

I think the new Ram deserves some praise. At least its a start right?

Anyways, about this news. I dont believe it. Why wouldnt the Vice Chairman of the company downplay rumors...

— LACMAN (View Profile)

Posted on 10/23/2008 12:38:18 PM | reply to this comment | Votes: 3   

TTRaceRR

Word has it that Cerberus actually wants control of GM under the guise of GM "taking over" or "merging" with Chrysler. They don't just want a piece of the GM pie a la the rest of the GMAC pie, they want the whole thing, lock, stock and barrel. Remember when Sears "bought" K-Mart? The real story is that K-Mart's parent company actually bought Sears! See where I'm going with this? Look at the facts: Chrysler has 11 billion in cash lying around. GM is burning 1 million a month. Their stock is in the crapper, and time is running out. Cerberus is loaded. GM has the better reputation than Chrysler just like Sears had a far better rep. than K-Mart, thus, you preserve the name of the company with the better marketable name and product. It Cerberus's stealthy way to gain control of another company, and their owners reap huge profits. Cerberus is a predatory outfit and the have GM by the gonads with control of 51% of GMAC. They are taking advantage of GM's predicament, and spinning it to the public (and the US government) as something totally different. They'll also control all the government bailout money given to GMAC if they aquire all of it.

— TTRaceRR (View Profile)

Posted on 10/24/2008 12:59:03 AM | reply to this comment | Votes: 2   

TTRaceRR

"GM is burning 1 million a month" CORRECTION: GM is actually burning through 1 BILLION per month! Their days are numbered!

— TTRaceRR (View Profile)

Posted on 10/24/2008 1:00:44 AM | reply to this comment | Votes: 1   

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