Friday, April 06, 2007

Chrysler on the table


It has been suggested by those who know better about matrimonial issues that marriage starts after the wedding ceremony. Before then usually its all rosy and romantic. It is after the wedding day you wake up in the morning, look at the person sleeping next to you and realise - 'Am I stuck with her for the rest of my life?'

The sad (depending on how you look at it) thing this week was at DaimlerChrysler - finally the chairman confirmed what we all feared that the marriage was on the rocks. Daimler is looking for potential suitors as it considers selling Chrysler.

I remember when the deal to form a partnership between the two company (yes it was a partnership on paper) - what a German and American? What were they thinking? Nothing against either it is just that the cultures are so different.

A story is told of the first full Board meeting after the partnership was announced. The German executives flew all the way to the US after making extensive preparations and ready to thrash out issues (at least that was what they knew Board rooms are for), they were shocked that the Americans do not conduct business issues at Board meetings. Actually Board meetings are just used to rubber stamp issues already discussed at the golf club.

The rest is history - the Germans took over the company.

(There is no thing as a merger because it is extremely difficult to find two companies that are equal in every sense - usually there is one party that would be more domineering - hey if I have lost you this is business not a matrimonial bliss!)

Like all well meaning couples it was touted as the merger of equals - Good intentions are not enough. The ceremony cost alot of shareholder funds and now the exits are also very costly - marriage can be painful.
("I know sometimes I don't make sense when I stand before you all - forget all that I've taught you in this few weeks remember one thing: about marriage don't just do it!" - M. Wainwright)

Oh you are having a good day? Damn I must've missed it!

No comments: