Jim Cramer Blog

Chrysler's 80,000 workers may pay the price for German-based parent DaimlerChrysler's decision on Monday to turn over the keys of its U.S. car company to private equity firm Cerberus Capital Management for $7.4 billion.

Talks begin soon between the United Auto Workers and Detroit's car makers on a national contract and analysts expect Cerberus, headed by former Treasury Secretary John Snow, to push for radical changes at its money-losing Chrysler, Jeep and Dodge operations.
The announcement sent shudders through much of Chrysler's work force, despite assurances from Chrysler CEO Tom LaSorda that there are no major plans under discussion with Cerberus to cut jobs beyond a previously announced restructuring plan.

Labels: Daimlerchrysler AG, DCX