ECONOMICS ISSUES PROJECT DAIMLER CHRYSLER INTRODUCTION The big three automakers have completely had their ups and downs over the years, when it comes to money and market conditions. None have been harder take out than Daimler Chrysler, during the past several months. Much of their distress is being caused by the backwardness in the U.S. economy, which happens to be one of the largest importers of vehicles from Canada. Almost 90% of Canadas automotive production is exported to the United States, who, in turn, arrange market trends that dominate the auto industry.
Daimler Chrysler is trying desperately to convalesce from their losses by way of job cuts, plant closures, transpose reductions, and decreased production. The first major step they made in the recovery process was firing chief executive officeholder James Holden, and other senior executives. Dieter Zetsche, who is now in tutorship of getting Daimler Chrysler back up to profitability, replaced James Holden. The recovery plan, base on realistic assumptions, was released on February 26, 2000 and in it Mr. Zetsche claims that he nooky be making a profit by the centre of 2002. Mr. Zetsche has until the end of this year to prove his claims.
Summarized below are collections of articles discussing Daimler Chryslers problems, and what they intend to do to recover from them.
Following the summary, these articles will be analyzed in great detail, as to how they relate to what Ive learned about the nature of markets and the role of profit.
abstract OF ARTICLES Article 1: Daimler Chrysler Canada to cut 3,000 jobs, part of 26,000 across northmost America (National Post Online, January 29, 2001) Chrysler posted a third-quarter loss of $512 one million million million U.S. and believes that the fourth quarter could more than double that, due to the slowdown in the U.S. economy. As part of a plan to...
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