NHRA: Under new management.
Chrysler: Sold. Nhra: Sold. World: Crumbling?We'll take End of World Is Near for $100, Alex. For a measly $7.4 billion, Chrysler Group could have been yours, people. Instead, the private equity firm Cerberus Capital Management coughed up a lung and the dough for an 80.1 percent equity interest in the new company, Chrysler Holding. What's the official comment? Let's Ask Dr. Z: "We're confident that we've found the solution that will create the greatest overall value-both for Daimler and Chrysler. With this transaction, we have created the right conditions for a new start for Chrysler and Daimler." The Daimlerless Chrysler (our vote for the new name) will include Chrysler, Dodge, and Jeep brands.
Meanwhile, over at the National Hot Rod Association . . . HD Partners Acquisition Corporation has acquired all of NHRA's racing assets, including the Powerade Drag Racing Series (NHRA gets about $100 mil in cash and $9.5 mil in HD common stock as part of the deal). Who is HD Partners Acquisition Corporation? The name sort of spills the beans, don't it? Straight from the "About HD Partners" company description: "A company that was formed for the specific purpose of consummating a business combination in the media, entertainment, and/or telecommunications industries." The bodies who formed HD consummated DirectTV. It airs drag racing, right?
"Nude Car Wash Not A Breach Of Water Restrictions."Yes, that's exactly the headline we would have gone with for an article about a nekked car wash in Brisbane, Australia. (The Australian Associated Press used it.) At Bubbles 'n' Babes, $55 gets your car washed by a topless lady, while $100 is a live nude gal, plus an X-rated show, according to APP.
(Not So) Fast Talk"There's one thing everyone agrees on: Daimler screwed Chrysler royally . . . Chrysler's merger with Daimler-Benz nine years ago was a disaster from the start. At the time, Chrysler was making a lot of money-something like $1 billion every quarter. The minivan was a cash cow. The Jeep Grand Cherokee and Dodge Ram pickup were selling like crazy . . . Chrysler was the lowest-cost producer and the most profitable car company in the world, with sales of 2.5 million cars and light trucks. But it took Daimler less than a decade to drive Chrysler off a cliff." -Lee Iacocca editorializing for Business Week. He's the former chairman of Chrysler Corporation.
More Convertible Camaro PhotosWhat can we say? We like to look at photos. Therefore, here are some freshly released '10 Camaro shots in drop-top format.
Are You Smarter Than A College Student?Even though Anderson Analytics had only 1,000 college students from 375 universities and colleges participate in an online survey, the results give us hope that the world will be in safe hands in the future. And today is Everything We Say Is the Opposite Day. The group was being polled about brands and country of origin. Cell phones took a beating in the error department, but cars didn't fare much better. The U.K.-brand Land Rover was thought by 58.4 percent surveyed to be American, while Hyundai was not thought to be from Korea. But it's not like Lego came out any better-it originated in Finland but 53.6 percent figured Japan.