Ex-Chrysler Finance Chief Says Cerberus Should Sell
Billionaire Kerry Kerkorian’s advisor Jerry York told CNN that Cerberus should fix what it can at Chrysler, and then sell quickly.
York – who was Chrysler’s finance chief from 1990 to 1993 – said, “Most of Chrysler’s volume is in the U.S., which is a mature market that is using dog-eat-dog incentives. Their styling is also way off, and they are not connecting with the customer.
Comments
Ducati Minor
I guess the Kerkorian team is still bitter (and stupid) from the failed hostile takeovers.
Didn't Bob Eaton do just what Mr. York is recommending? Isn't that how Chrysler came into this crisis?
Cicero
I never have liked Kerkorian or his lackey York, especially after that nasty business of replacing Lutz and gang at GM with Carlos Ghosn
CARSON44
Mr. York is from the past, when the company was driven by "next quarter's results. No such pressures are exerted on Cerberus. If you go to any public company's web site and look at investor relations, what you'll get is a lot of happy talk. Not so at Cerberus, go look and see, what you get from them is no talk. They don't have to make any one happy, they just need to make a good internal rate of return. I believe you'll see great things from Chrysler.
Michael
I have to agree. The way of carmakers doing business has changed, but Kerkorian and York apparently have not.
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