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Posts Tagged ‘Daimler

Carry that load…

From Photographer Alain Delorme, an extraordinary slideshow featuring things on the move in China.

(Thanks, Dan Sturges)

As we rebalance our loads, we might recall that it was on this date in 1998, five days after the company was formed by $37 billion merger, that DaimlerChrysler first traded in the New York Stock Exchange; at that moment, DaimlerChrysler was the fifth-largest auto manufacturer in the world (after General Motors, Ford, Toyota and Volkswagen).  The plan was for further growth, via the creation of a single powerhouse car company that could compete in all markets, all over the world… But in the event, Chrysler lost so much money– $1.5 billion in 2006 alone– that in 2007, Daimler paid a private equity firm to take the company off its hands.  Two years later, in 2009, Chrysler filed for bankruptcy (again); in order to stay afloat, it merged with Italian automaker Fiat.

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