A SHAKY AUTOMOTIVE MENAGE A TROIS

摘要

Daimlerchrysler ceo Juergen E. Schrempp may be running out of rope. At a meeting in Stuttgart on Apr. 22, Daimler's Supervisory Board ignored his protests and decided that it would not contribute to an estimated $7 billion bailout needed to recapitalize debt-laden Mitsubishi Motors Corp. ―where Daimler owns a controlling 37% stake. The message: Daimler won't spend any more to prop up money-losing Mitsubishi. If the troubled Japanese carmaker is to survive, its remaining shareholders will have to find the capital to fund it. By stiff-arming Mitsubishi, Daimler's board has effectively torpedoed Schrempp's strategy of building a globe-spanning auto maker that dominates the industry. According to German newspaper Frankfurter Allgemeine, Schrempp offered to resign at the Stuttgart meeting; Daimler's board was expected to discuss his future at another meeting set for Apr. 29. But faced with ongoing losses in Japan and the U.S., the board is backing away from his vision of a powerful triumvirate in which Mercedes-Benz would play global No. 1 in luxury, Chrysler would spin profits from minivans, pickups, and sport-utility vehicles, and Mitsubishi would handle passenger cars for Chrysler.