Taken for a Ride: How Daimler-Benz Drove Off With Chrysler

Taken for a Ride: How Daimler-Benz Drove Off With Chrysler
by Bill Vlasic, Bradley A. Stertz

Taken for a Ride: How Daimler-Benz Drove Off With Chrysler
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Book Summary Information

Author: Bill Vlasic, Bradley A. Stertz
Edition: Paperback
Audio: English (Original Language); English (Unknown); English (Published)
Published: 2001-07-01
ISBN: 0060934484
Number of pages: 432
Publisher: Collins Business

Book Reviews of Taken for a Ride: How Daimler-Benz Drove Off With Chrysler

Book Review: Great account of a historic business transaction
Summary: 4 Stars

The take over of Chrysler by Diamler-Benz was heralded as the "merger of equals". This merger was a joke that was really a buyout of an American icon. The story of the merger is one of intrigue on two continents and is told very well here. It is an interesting book and very well written. I highly recommend it for those who want to see what happened at Chrysler after Iacocca retired.
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Summary of Taken for a Ride: How Daimler-Benz Drove Off With Chrysler

Here is the book that exposed the Daimler-Chrysler "merger of equals" as a bold German takeover of an industrial icon. Taken for a Ride reveals the shock waves felt around the world when Daimler-Benz bought Chrysler for $36 billion in 1998. In a gripping narrative, Bill Vlasic and Bradley A. Stertz go behind the scenes of the defining corporate drama of the decade -- and in a new epilogue chart its chaotic aftermath.

It all started with a misunderstanding. Kirk Kerkorian, the Las Vegas wheeler-dealer, thought Chrysler's management would back him up if he tried to take the company private. Chrysler's management thought they'd made it clear they had no interest in such a deal. As the two sides faced off--Kerkorian and legendary Chrysler chairman Lee Iacocca on one side, current Chrysler boss Bob Eaton and his top executives on the other--Mercedes-Benz CEO Helmut Werner stepped in. The result is the company now known as DaimlerChrysler. But Vlasic and Stertz make clear no one really knows the result of the deal. It's far too early to tell if blending the manufacturer of sleek German luxury sedans with the Detroit-based progenitor of the minivan will succeed in the global marketplace. Instead, they show in riveting detail how the deal came to be, and the immediate aftermath. They give us private moments with the major players and show us the multilayered considerations that crop up when two gigantic companies merge. Another book will have to judge the ultimate success of the merger, but the immediate results aren't exactly promising. By late 1999, a share of the original Chrysler was worth a few pennies less than it had been before the merger was announced, and only about a dollar more than before Kerkorian made his move back in April 1995. --Lou Schuler

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