Shareholders call for DaimlerChrysler to be renamed Daimler-Benz AG

[siko]

Shareholders call for DaimlerChrysler to be renamed Daimler-Benz AG

In an article that sums up nicely the current situtation surrounding the potential sale of Chrysler, the Detroit Free Press reveals that two DaimlerChrysler shareholders have called for the company to change its name by dropping "Chrysler" if the Chrysler Group isn't sold by March 31st, 2008. Shareholders Ekkehard Wenger and Leonhard Knoll have crafted a name change proposal that would insert the potential name change into the company's articles of incorporation at its next annual meeting on April 4th. Wenger and Knoll didn't hold back any punches in the proposal when speaking about the Chrysler Group and the perceived failure of this merger of equals:

• "Maintaining a corporate name that evokes associations with the failure of the business combination with Chrysler is detrimental to the image of the corporation and its products."
• "This is all the more true as unflattering nicknames such as Doting Daimler, Daimler-Crisis or even Crime-ler have long been in circulation."
• "The disadvantages this entails for shareholders, customers and employees can only be borne at most for a short transition period until there is a proper separation from Chrysler. If a proper separation cannot be effected within one year, this would only serve to underscore the need to remove this affliction on the image from the corporation's name."

What does it say about the state of solidarity within your company when you have one half being referred to as an "affliction"? Not much. And while we don't read business trade journals in German over breakfast, we've never heard DCX referred to as "Daimler-Crisis" or any of the other nicknames mentioned in the proposal. Of course, now that we have, we'll have to start using them.

The Freep article closes by noting that DCX supervisory and management boards are totally opposed to the namge change, so don't expect them to be ordering new business cards anytime soon.

[Source: Detroit Free Press]

 

[LaArtist]

^lol damn they where harsh
and im happy
i think the name change will come
but they will sell of chrysler before they are forced to change the name

so happy

 

[PanterroR]

DaimlerChrysler seeks name change; expects Chrysler spin-off within year



In a confidential memo to top shareholders, DaimlerChrysler said it was considering a name change — possibly back to Daimler-Benz — in an effort to disassociate it from the "failure" of the Chrysler Group.
"Maintaining a corporate name that evokes associations with the failure of the business combination with Chrysler is detrimental to the image of the corporation and its products," the document reads.
Shareholders will vote on the name change in April, with the option of deferring the change until the Chrysler Group is sold or spun-off. Not only is the memo official confirmation that DCX is serious about getting rid of Chrysler, it also indicates a possible timeframe.
The document specifies March 31, 2008 as the latest possible date for a name change. It seems to suggest there's a good chance the company will split up before that date:
"The Board of Management is authorized to defer notification of the change of name for entry in the Commercial Register until the Chrysler Group is separated from the Group or sold, but not later than March 31, 2008."
If a separation does not occur, DaimlerChrysler will go ahead with the re-branding, anyway:
"If a proper separation cannot be effected within one year, this would only serve to underscore the need to remove this affliction on the image from the corporation’s name," the company said.
The document even contains specific examples of names used to mock the failed merger:
"Unflattering nicknames such as Doting Daimler, Daimler-Crisis or even Crime-ler have long been in circulation," the document reads. "The disadvantages this entails for shareholders, customers and employees can only be borne at most for a short transition period until there is a proper separation from Chrysler."

Source: LLN



LOL @ bold part...

 

[SDNR]

I think this is pretty crass of those two board members. To blame all of Mercedes image problems on Chrysler is just plainly obtuse.

Daimler-Benz knew exactly what they were getting in to when they 'merged' (ha!, what a joke) with Chrysler. So any image problems the company now faces can only be blamed entirely on the people at the helm -- namely, the board of management.

 

[SDNR]

And while we don't read business trade journals in German over breakfast, we've never heard DCX referred to as "Daimler-Crisis" or any of the other nicknames mentioned in the proposal. Of course, now that we have, we'll have to start using them.

Was this written by Osnabrueck

 

[siko]

Upon further reflection, this is probably just a way to make Chrysler a separate corporate identity, so when it comes time to sell it off, it'll be much easier.

Many previously merged companies do that when they want to sell off a part of the company.