The merger in 1998 between Chrysler and Daimler was the biggest of
all time, and created a company with $130 billion in annual
revenue. This book is both an account of the merger process in
action and a cautionary tale of the perils of going global. It is
based on interviews with key figures including Jurgen Schrempp and
Lee Iaccoca. (Kirkus UK)
The Wall Street Journal christened the deal "the biggest industrial
merger of all time." The marriage of Daimler and Chrysler promised
to rock the global auto industry and draw up a blueprint for
international consolidation on an epic scale. But the union of
Chrysler, the blue-collar maker of Jeeps and minivans, with
Daimler, the crown jewel of German industry, didn't turn out to be
a merger made in heaven. When the dust settled, Daimler had bought
Chrysler, and the shock waves reverberated on both sides of the
Atlantic. An American icon lost its independence, and a German
giant grew in power and influence. The DaimlerChrysler deal brought
together two automotive superpowers and triggered a chain reaction
among competitors seeking partners around the world. In a gripping
narrative ripped from the from the daily headlines, Bill Vlasic and
Bradley A. Stertz of the Detroit News go behind the scenes of the
defining corporate drama of the decade. With groundbreaking
reporting, they reveal the untold story behind the unsuccessful
attempt to take over Chrysler by its biggest shareholder, the
reclusive billionaire Kirk Kerkorian, and its legendary retired
CEO, Lee Iacocca. Their startling grab for the smallest of
Detroit's Big Three automakers sparked secret talks between
Chrysler and Daimler on a massive joint venture. The first deal
collapsed, but it set the stage for the final, intense negotiations
between Chrysler chairman Robert Eaton and Daimler chairman Jurgen
Schrempp. It was hailed as a historic "merger of equals," but the
euphoria evaporated amid a clash of cultures, identities, and
personalities. The action moves feverishly around the world with
larger-than-life characters in the high-stakes arena of
international automaking. Taken for a Ride follows the twists and
turns in the road to DaimlerChrysler and, in the end, emerges as a
cautionary tale of the risks and rewards of going global.
General
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