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from a report in the Bloomberg News:

Kerkorian seeks to toss out lower court rulling that automaker didn't disguise Chrysler deal.

Daimler-Benz AG executives misled Chrysler Corp. shareholders about the nature of the $36 billion deal that created DaimlerChrysler AG in 1998, a lawyer for billionaire Kirk Kerkorian told an appeals court Tuesday.
Terry Christensen asked the 3rd U.S. Circuit Court of Appeals to throw out a lower court's finding that Daimler didn't disguise the Chrysler takeover as a "merger of equals." Kerkorian, once Chrysler's largest shareholder, sought as much as $3 billion in damages in a lawsuit over the deal.

The merger should have led to "shared leadership" of DaimlerChrysler, Christensen told a three-judge panel at a hearing in Philadelphia.

Instead, Daimler executives pushed aside their counterparts at Chrysler and took control of the combined company, he said.

Kerkorian, 89, claims Daimler misrepresented the deal to make it more acceptable to Chrysler investors and avoid paying a takeover premium. DaimlerChrysler cut its profit forecast two weeks ago because of a projected quarterly loss of $1.5 billion at the Chrysler unit.

DaimlerChrysler lawyer Jonathan Lerner urged the appeals court to uphold an April 2005 ruling by U.S. District Judge Joseph J. Farnan Jr. in Wilmington, Del., who found that Kerkorian wasn't duped.

"The merger was exactly what was promised," Lerner said. Kerkorian "didn't care about what kind of governance the company would have" and was only concerned "about the finances," he said.

Judge Marjorie Rendell said the panel will deliver its decision later, without indicating when. "It's an interesting and complex case," she said.
 

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I just picked up this book yesterday. Haven't had a chance to read it yet but it looks interesting.....
 

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4x4, Straight pipe roar!
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Ram3500Dually said:
I just picked up this book yesterday. Haven't had a chance to read it yet but it looks interesting.....
That looks interesting. Where'd you get it?
 

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Ummm, the general managers office was left open on the midnight shift :D :D :D













Just kidding, a foreman that retired had it in his locker when we cleaned it out. I took the book and didn't tell anybody about it :)
 
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