As Concern About Chrysler Sale Increase, Daimler Shares Fall
DaimlerChrylser (DCX) executives are distributing numbers on their ailing Chrysler unit to interest buyers. But the media is already reporting the companies like Nissan and Renault are not interested, the the company may have to be sold in pieces, and…
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DaimlerChrylser (DCX) executives are distributing numbers on their ailing Chrysler unit to interest buyers. But the media is already reporting the companies like Nissan and Renault are not interested, the the company may have to be sold in pieces, and that GM (GM) would be stupid to buy the smaller company given its own problems.
So much for Daimler’s multi-year stock price high. After moving up $74.40 on euphoria about the possible sale the shares hit a low of $69.76 yesterday.
If there is no quick news about a sale, those shares may well go lower.
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
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A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
