Chrysler Commencing Corporate Clearance

Frank Williams
by Frank Williams

Chrysler is about to follow Ford and GM's lead and perform an asset-selling cash grab. According to The Wall Street Journal, Chrysler would "like" to sell its Mopar unit, which makes high-performance and specialty parts, and Chrysler Transport, which manages supply deliveries to their plants. To that end, Chrysler's brought up the possibility in its current contract talks with the United Auto Workers (UAW). Needless to say, the UAW opposes the move, as it would involve the loss of some 1300 dues paying members jobs. The union can bitch all they want but "Boot'em Bob" Nardellli has already stated his new employer's firm intention to "monetize some assets." That's equity fund speak for "strip and flip." Is anyone– including the UAW– really that surprised?

Frank Williams
Frank Williams

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  • Sajeev Mehta Sajeev Mehta on Aug 29, 2007

    Hey Year One, are you listening? You all are certainly qualified to take Mopar off Bob’s hands.

  • Kevin Kluttz Kevin Kluttz on Aug 29, 2007

    Tradition out; profit in.

  • Blunozer Blunozer on Aug 29, 2007

    Actually, throwing MOPAR to the curb will definatly get their CAFE numbers up. Might help with their eco-cred a bit as well. (It certainly wouldn't make it any worse!)