Chrysler Yard Sale

[doh]

http://biz.yahoo.com/rb/080813/chrysler.html?.v=1

Chrysler identifies over $1 billion in assets for sale
Wednesday August 13, 9:09 am ET


TRAVERSE CITY, Michigan (Reuters) - Chrysler LLC has identified over $1 billion in non-earning assets for potential sale, Tom LaSorda, the automaker's president, said on Wednesday.
"One advantage of private ownership is that we can sell non-earning assets to generate cash," he said in prepared remarks to the Center for Automotive Research Management conference. "To date, we have identified over $1 billion in assets, and we are more than half way to achieving that goal."

The automaker is meeting or exceeding its financial targets, LaSorda said.

He also said Chrysler will invest about $1.8 billion in new vehicle programs and to expand its Jefferson North assembly plant in Detroit.

The investment will keep 400 jobs in Michigan, he added.

[davidlane]

As a small business owner, this seems like a perfectly good thing to do!

[Uzzy]

They sold a large chunk of land in Windsor late last year. It was supposed to be a large van plant. they had a building up, but unfinished. Supposedly, it had no floor, just a shell. They tore it down a few years ago and sold the land recently. I guess that's all part of the plan.

[wescoent]

I'd like the tooling for the Dodge Viper, please.

[2648562]

If anyone from Chrysler reads this: I really need a good push mower. It doesn't need to be electric start or fancy. Just something heavy duty enough to handle some good sized hills, with a nice wide deck, adjustable wheels... and it needs to start by the third or fourth pull. PM me if you have anything. Thanks.

[Uzzy]

Originally Posted by 2648562

If anyone from Chrysler reads this: I really need a good push mower. It doesn't need to be electric start or fancy. Just something heavy duty enough to handle some good sized hills, with a nice wide deck, adjustable wheels... and it needs to start by the third or fourth pull. PM me if you have anything. Thanks.

I know a Saturn Mechanic that sells them on the side, if you want his info, but you might get a better price at Chrysler's fire sale if you're there early enough.

[big swede]

This is a yard sale (Saleen).
http://www.themustangnews.com/fomoco...8saleen108.htm

[jry]

Originally Posted by davidlane

As a small business owner, this seems like a perfectly good thing to do!

Agreed. Being debt free with no shareholders to worry about helps one sleep at night. Granted, Chrysler is probably far from debt free but they save a bit of cash not having to do all of the reports and wall street/SEC oversight.

I never understood sitting on a bunch of non income producing stuff. Especially when the the assets are not appreciating.