DaimlerChrysler: Dr Z goes back to ABC

If you have to pay to get rid of a business and shareholders still cheer, that really rams home how bad a business you had. That’s what happened with Daimler when it offloaded Chrysler to Cerberus. Cerberus may be paying a headline price of $7.4bn for an 80% stake. But when you add up all the other linked money flows, Daimler ends up paying about $650m to be shot of the US automotive group. One of the reasons the German company’s shareholders were pleased was because they get a clean break. Dai...