CSpec

Hardtop convertible?

I'm not sure why everyone on this site is infatuated with diesels. They're gruff and grumbly and noisy, plus they are quite expensive and filling up is tricky. I guess it doesn't really matter since US emissions regulations won't allow them without a huge price hike...

Rethinking the Car Company Private-equity firm Cerberus is expected to transform Chrysler into an automobile manufacturer like no other. What the future may hold. May 17, 2007 - Henry Ford created the defining engine of the American auto industry with his mighty River Rogue factory in the 1920s. Huge freighters loaded with iron ore and rubber docked at one end of mile-long warren of foundries and factories, while on the other end shiny black Model A automobiles rolled off the assembly line every 49 seconds. At the dawn of the Internet age, Michael Dell created a new model for manufacturing. At his factories, the guts of his computers—circuit boards, frames, memory chips—arrive fully built by suppliers before Dell workers snap them together in minutes. Unlike old Henry, who offered to paint your car any color as long as it was black, Dell custom-builds to each buyer’s specs. Lately, rivals are eating into Dell’s sales, but he still earned a place in business history by redefining what it means to be a computer company. Now the new owners at Chrysler promise to rethink what it means to be a car company. Cerberus Capital Management, the Wall Street private-equity firm named for the three-headed dog that guards the gates of Hell, has Motown rabid with speculation this week about the fallout from its $7.4 billion buyout of beleaguered Chrysler. A skilled and secretive turnaround outfit, Cerberus is expected to overhaul Chrysler in a way that could create a new model for Detroit, which badly needs a tuneup. Last year, GM, Ford and Chrysler combined to lose more than $16 billion, as the remnants of Henry Ford’s old model finally ran out of gas. Detroit insiders say they expect Cerberus to shake up the moribund American auto industry by asking this simple question: does a car company have to build all its own cars? It could prove to be a transformative question. Rather than each Detroit automaker building every kind of car and truck—and losing their shirt on most of them—they could be design and brand houses that build only the things that make them money. After all, the thinking goes, customers only care about the product, the brand and the price. Why not focus on designing a car, marketing it and selling it, rather than manufacturing it? This might be heresy in the Motor City, but it's commonplace in other industries. The pet-food scare taught us that many of the dog-food brands lining the shelves at PetSmart are all made by one manufacturer in Canada. Whirlpool makes washers for Kenmore and Kitchen Aide. Peel back the keyboard of your Gateway and you’ll find the same parts that went into that Dell laptop. So why shouldn’t GM make crossover utility vehicles for Chrysler, while Chrysler makes minivans for GM? In fact, Cerberus officials say they would certainly consider unconventional collaborations for Chrysler. And pulling them off will be easier for a private company whose every move isn’t scrutinized by Wall Street. “Turning things around requires ingenuity. It requires trying different things. It requires asking questions that in many cases haven’t been asked before,” Cerberus Chairman and former U.S. Treasury Secretary John Snow told NEWSWEEK. “So are we open to new things? Absolutely. That’s what Cerberus does. It breaks the mold and finds new ways to do things that are better than they’ve been done in the past.” Actually, Cerberus would not be the first to raise this radical concept with Chrysler. Late last year, GM approached Chrysler with an in-depth proposal to jointly develop new models, say sources familiar with the discussions. Had those negotiations crossed the finish line, GM might have developed Chrysler’s next Dodge Ram pickup, while Chrysler’s Jeep engineers might have worked on GM’s Hummer line. There was even talk of GM acquiring Chrysler. Instead, DaimlerChrysler put a stop to all that by putting its American problem child in play on Valentine’s Day. Now, though, the buzz inside GM is that Cerberus could bring Chrysler back to the table to reopen discussions about such collaborations, especially since the two automakers now share a private-equity owner. Cerberus last year bought a controlling stake in GM’s financing arm, GMAC. Chrysler has already taken smaller steps in this direction. The gas-electric hybrid system debuting on the Dodge Durango next year was engineered by GM and will first appear on its Chevy Tahoe. Next year, Chrysler will begin building minivans for VW, which will be a version of its own Dodge Caravan. And Chrysler is hiring China’s Chery Automobile Co. to produce its new small car, the Dodge Hornet. The once sacrosanct rule that motor companies must build their own motors is become a relic of last-century thinking. As governments around the world combat global warming by mandating high- mileage cars, Chrysler won’t be able to go it alone in developing the high-tech propulsion systems that will be required. “The costs are horrendously expensive,” says Mike Jackson, CEO of United Auto Group, Chrysler’s top dealer. “They’ll absolutely have to have alliances with other automakers.” You’d think the biggest roadblock to this revolution would be the unions, which are bleeding members. But Cerberus CEO Stephen Feinberg is already working a charm offensive. The reclusive billionaire impresses auto execs and labor bosses with his earthy approach that comes from his humble roots as the son of a factory worker. “He reminds me of me,” says Chrysler CEO Tom LaSorda, the son of labor leaders, “except he has a lot more money.” First, Feinberg won over the UAW’s steely president, Ron Gettelfinger, who went from calling Cerberus “strip and flip” to endorsing it as the best thing for his brethren. Then Feinberg worked on Canadian Auto Workers President Buzz Hargrove, who decried the deal when it was announced last Monday. The next morning, Feinberg met with Hargrove for coffee in Chrysler’s 15th-floor conference room. “We’re not about slice and dice and sell,” Feinberg told him. “We’re in here for the long term.” Hargrove did his own flip. “He certainly convinced us,” he said. Labor’s acquiescence in Cerberus's takeover of Chrysler is critical. Auto execs hope it signals a willingness to bargain a transformative contract in negotiations this summer that will make a serious dent in Detroit’s crushing cost disadvantage against the Japanese. If that breakthrough comes, other innovations will follow and Cerberus can start planning its exit strategy. “Private-equity firms hang around three to five years,” says Harvard business professor Nabil El-Hage, “but they start thinking about their exit strategy after three to five minutes.” So who will own Chrysler after Cerberus leaves town? The automaker could go public again. Or maybe GM will still be interested. After all, they could already be partners by then.

Nope, Saturn=Opel.

"Derived from the Opel Antara"? It's the same thing with different engines and a different radio!

The NL sucks in general, but the Yankees have serious problems this year. Go Sox!

This looks pretty promising, actually. If it has a good interior (I doubt it), it could rival the Chevy Lambda pretty well.

Except this is twice as expensive.

This thing is a monstrosity.

I was referring to the stretched out taillights and greenhouse mainly...

Dude, ads are ads. Remember the ad with the Corvette flying? Or the Edge driving around skyscrapers?

---- It looks good so far, but the back is very similar to the new Altima it seems.

I'm sure the same will happen when Pat Robertson kicks the bucket. Both spew such insane and vile things that people are bound to be glad they're gone. Surely you will agree that some of the quotes I posted are vile and sick.

On Sept. 11: "The abortionists have got to bear some burden for this because God will not be mocked. And when we destroy 40 million little innocent babies, we make God mad. I really believe that the pagans, and the abortionists, and the feminists, and the gays and the lesbians who are actively trying to make that an alternative lifestyle, the ACLU, People for the American Way—all of them who have tried to secularize America—I point the finger in their face and say 'you helped this happen.' " On AIDS: "AIDS is the wrath of a just God against homosexuals." On homosexuality: "I believe that all of us are born heterosexual, physically created with a plumbing that's heterosexual, and created with the instincts and desires that are basically, fundamentally, heterosexual. But I believe that we have the ability to experiment in every direction. Experimentation can lead to habitual practice, and then to a lifestyle. But I don't believe anyone begins a homosexual." On Martin Luther King Jr.: "I must personally say that I do question the sincerity and nonviolent intentions of some civil rights leaders such as Dr. Martin Luther King Jr., Mr. James Farmer, and others, who are known to have left-wing associations." On Martin Luther King Jr., four decades later: "You know, I supported Martin Luther King Jr., who did practice civil disobedience." On public education: "I hope I live to see the day when, as in the early days of our country, we won't have any public schools. The churches will have taken them over again, and Christians will be running them." On the separation of church and state: "There is no separation of church and state." On feminists: "I listen to feminists and all these radical gals. ... These women just need a man in the house. That's all they need. Most of the feminists need a man to tell them what time of day it is and to lead them home. And they blew it and they're mad at all men. Feminists hate men. They're sexist. They hate men; that's their problem." On global warming: "I can tell you, our grandchildren will laugh at those who predicted global warming. We'll be in global cooling by then, if the Lord hasn't returned. I don't believe a moment of it. The whole thing is created to destroy America's free enterprise system and our economic stability." On Bishop Desmond Tutu: "I think he's a phony, period, as far as representing the black people of South Africa." On Islam: "I think Mohammed was a terrorist. I read enough of the history of his life, written by both Muslims and non-Muslims, that he was a violent man, a man of war." On Jews: "In my opinion, the Antichrist will be a counterfeit of the true Christ, which means that he will be male and Jewish, since Jesus was male and Jewish."

Wow... the posts in Facebook groups at Liberty University (the school he started) are very frightening. He really brainwashed some people.

Good riddance.

Saving Chrysler. Maybe. Cerberus is not out to bail out the automaker for the good of America. What the firm—and the union—really want. (Taken from Newsweek) May 14, 2007 - Detroit was stunned Monday morning to wake up to the news that Chrysler had been sold to Cerberus Capital Management, a Wall Street private equity firm named for the three-headed dog that guards the gates of Hell. The unsettling news grew even more ominous when one of the Detroit TV stations began broadcasting the news conference live from Germany with a stern-sounding German translator drowning out the English being spoken by DaimlerChrysler Chairman Dieter Zetsche. It all reminded me of that R.E.M. song “Welcome to the Occupation.” But then the charm offensive began. Sitting between Zetsche and Chrysler CEO Tom LaSorda on the dais in Stuttgart was the avuncular John Snow, the former Treasury secretary who is now chairman of Cerberus, a $23.5 billion private equity investment firm that owns such household names as Fila and Formica. (More importantly, it has amassed several auto holdings, including a controlling stake in GMAC, the financing arm of General Motors) Far from appearing like a Wall Street sharpie eager to carve up Chrysler, Snow spoke in soothing tones about continuity. “There will be a continuing relationship between Daimler and Chrysler,” he said, looking fondly over at LaSorda. “That’s a vote of confidence, Tom, in you and in us.” And now that Cerberus is taking Chrysler private in a $7.4 billion transaction, Snow assured his new friend Tom that he would no longer have to operate in the pressure cooker created by having pesky public shareholders. “We can let ‘em focus on running this great company,” Snow said of the automaker that lost $1.5 billion last year, leading Daimler to unload Chrysler after nearly 10 years of unhappy marriage. (Daimler will retain a 19.9 percent stake). Best of all, though, Snow was “absolutely delighted” to have the backing of United Auto Workers President Ron Gettelfinger. “Having the support of Ron Gettelfinger tells us a lot,” he said. “We respect the role of organized labor.” At that point, this deal was being coated with so much sugar it was making my teeth hurt. So I thought I would strip away the sweetness and shed a little light. For starters, this is no bailout like Chrysler received from Congress a generation ago. Back then, Chrysler was an American icon that President Jimmy Carter saw as an engine of the U.S. economy. While Chrysler will once again become an American company in this deal, the U.S. economy is no longer defined by Detroit. If it were, we wouldn’t have a 13,000 Dow and low unemployment while Detroit’s three automakers hemorrhaged more than $16 billion in red ink last year. Cerberus is not out to save Chrysler for the good of America. Rather, Cerberus’ goals are succinctly explained by University of Michigan business professor Gerald Meyers, who was at the wheel of American Motors when it sold out to Chrysler back in 1987. “Cerberus' game is all about build it up, sell it and get out,” says Meyers. And how might Cerberus make Chrysler look profitable? It will make it shrink to fit its diminished place in the American automotive market. Since rising gas prices flattened the tires of the SUV business, Chrysler really has only had a couple of strong model lines left—its minivans and the Jeep brand, which has the classic American appeal of Harley Davidson. Chrysler still sells a lot of Dodge Ram pickups, but the roof is falling in on that market along with the housing industry. LaSorda has already announced plans to cut 13,000 workers and close factories. And Chrysler officials insisted Monday there would be no more layoffs. But analysts predict Cerberus will want more. Why? Because Chrysler’s current cuts are aimed at holding on to 13 percent of the U.S. car market, when it actually may only be able to profitably control 10 percent, says Meyers. Cerberus’ seemingly cozy decision to keep LaSorda in charge will not be without limits, either. Watching over him will be Wolfgang Bernhard, Chrysler’s former No. 2 exec who is now an adviser to Cerberus and will likely get a board seat in the new Chrysler Holding LLC. “Let’s face it, LaSorda may be nominally in charge, but there’s a new owner in town,” says veteran auto analyst Maryann Keller. “Cerberus’ man on the line here is Wolfgang Bernhard.” Perhaps the biggest fallacy among all the public platitudes Monday is the notion that LaSorda will have more breathing room by not being part of a public company. “That’s baloney,” says Keller, author of several books on Detroit and adviser in many Wall Street auto deals. “The problems at Chrysler have nothing to do with public ownership and the scrutiny of investors in New York. American investors were bit players in Daimler stock.” The real pressure will come with private ownership, which is far more focused than millions of public owners scattered around the world. “The idea this is going to make things easier at Chrysler is crazy,” says Keller. “This makes things tougher because as soon as something goes wrong you’ll have Wolfgang Bernhard in your office. That’s direct, in-your-face pressure.” The most mystifying turn of events, though, is the UAW’s apparent acquiescence in this deal. A month ago, Gettelfinger said he had “grave concerns” about the private equity players circling Chrysler, which included Cerberus and the high-flying dealmaker the Blackstone Group. He saw them as carving up Chrysler and selling off pieces to the highest bidder, while destroying jobs and communities. “I call ‘em strip and flip,” he said then. So why would Gettelfinger do his own apparent flip? Well, his support is extremely guarded. In a press conference Monday, Gettelfinger grew edgy as he tried to explain why he lost his bid to keep Chrysler a part of Daimler. “I’m going to go through this one last time,” he said. “The status quo was off the table. The decision to go with Cerberus was already made before we got there” in Germany Saturday to meet with Zetsche and LaSorda. After the execs laid out their rationale in a four-hour meeting, the union boss huddled with his advisers and decided to back it as the best alternative to staying with Daimler (which never warmed to Chrysler’s down-market cars and trucks or truly adopted its American cousins). “The point is, you’re dealt a hand,” says Gettelfinger. “And you play with the hand you're dealt.” But Gettelfinger’s play could be calculated. When Chrysler enters contract talks with the union this summer, Gettelfinger holds a big trump card with the $18 billion in health and pension costs Cerberus agreed to take off Daimler’s hands. Cerberus would dearly love to cut those crushing costs, which help explain why all American auto makers have a hard time making a buck. The best way to pare down those costs is to get concessions from the union. But the union will want something big in return, like job guarantees or other goodies. After all, Cerberus has very deep pockets. Why should the union turn a cold shoulder to the new owners before they’ve heard what they have to offer? Gettelfinger seemed to acknowledge that was how he was playing his hand. “We believe we’ll get a lot of mileage out of where we’re at with our position,” he said. How many miles Cerberus will ride with Chrysler is uncertain. Some analysts believe Cerberus will hold onto Chrysler for the length of one union contract—four years. Then it will likely put a smaller, more profitable player back in the public domain through an initial public offering of stock. “Cerberus wants to show a company coming back with the potential to be extremely profitable,” says Meyers. “Then here come the investment bankers to do an IPO. And everybody at Cerberus becomes a billionaire.” But before Chrysler, and Cerberus, arrive at that happy destination, they’ll have to drive through the union first. They’d better fasten their seat belts.

Well there isn't. There is a refresh for the current one for next year, and that will have to tide it over until Alpha comes along in 2011 or 2012.

The Beat always seemed like the one they're actually building, since it was the only one that had an interior. I guess this provides more evidence of that.

The MPAA ratings are just suggestions; movie theaters follow them voluntarily.

Except the Charger looks much more vulgar and low-class, with a crappy interior to boot. The Pontiac is much more refined.

For some reason the VUE does not photograph well at all--the front overhang looks huge and it looks skinny and tall. However, in person it looks quite nice.

What? It's arriving here this fall.

It is Theta, just modified a bit. The VUE is certainly smaller than the American Thetas, but the Captiva is a 7-seater and hence is longer.

Wow.. well I'm sure Daimler (what's the new acronym now that there's no C in DCX?) investors are happy.