Chrysler's Bumpy Ride
Nardelli, Act 3
April 1980: After huge layoffs and losses in the millions, Chrysler barely averts bankruptcy by receiving $1.5 billion in government-backed aid.
August 1983: Chairman Lee Iacocca signs over a ceremonial check for $813,487,500 to pay off its last federally guaranteed loans.
November 1983: Chrysler introduces the Plymouth Voyager and Dodge Caravan, simultaneously inventing the minivan and the soccer mom.
August 1987: Chrysler buys American -Motors for $1.5 billion, -bringing another suburban staple, Jeep, onto the lot.
December 1990: Kirk Kerkorian gobbles up nearly 10 percent of Chrysler for about $270 million.
December 1992: Iacocca is forced out of Chrysler at age 68. Robert Eaton takes over.
April 1995: Kerkorian, with Iacocca at his side, attempts to take over Chrysler with a bid of $22.8 billion. They are unsuccessful.
November 17, 1998: DaimlerChrysler begins trading, six months after Daimler-Benz announced its $36 billion purchase of Chrysler. The companies claimed that it was a “merger of equals.”
November 2000: DaimlerChrysler sends Dieter Zetsche, formerly head of its commercial-vehicle division, to Detroit to oversee Chrysler.
April 2001: DaimlerChrysler posts its lowest quarterly operating numbers, showing a loss of $545.6 million.
August 2005: “Dodge trucks last as long as the d-o-double jizzle,” says Snoop Dogg in a TV spot with Lee “Mochacocca.”
January 2006: Zetsche ascends to the top spot at DaimlerChrysler.
May 2007: Cerberus Capital agrees to buy Chrysler for $7.4 billion.
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