Tuesday, July 24, 2007

Chrysler's year

Feb. 14: DaimlerChrysler Chief Executive Officer Dieter Zetsche announces that all options are on the table for Chrysler. The day's news largely overshadowed the other announcement: Chrysler's turnaround plan, which included cutting 13,000 jobs over three years.

April 4: At DaimlerChrysler's annual meeting in Berlin, Zetsche confirms that talks are taking place with potential buyers for Chrysler.

May 14: Private equity firm Cerberus Capital Management is named Chrysler's buyer.

May 15: DaimlerChrysler announces that Chrysler lost about $2 billion in the first quarter of 2007, largely because of the turnaround plan.

Tim Higgins

Detroit FreePress

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