3 facts are evident today after the closing of the Cerberus takeover of Chrysler:
- Chrysler becomes one of the few privately owned car companies in the world, arguably the only major one.
- The U.S. debt market is clearly in bad shape with Chrysler doubling their participation in the financing to $2 billion.
- Jürgen Schremp goes down as the most disgraced CEO in the history of storied automaker, the company who’s founder invented the internal combustion automobile no less.
Lastly, Daimler should now do the right thing and restore the name "DaimlerBenz" instead of simply truncating "DaimlerChrysler" to "Daimler".