Right or wrong the news media is convinced that Chrysler's parent Cerberus Capital Management is looking for someone on which to unload the failing automaker.
The most recent rumor, started by Reuters news service, is that Magna International, the giant Canadian supplier, is sniffing around the troubled Auburn Hills auto company, again. Magna acknowledged it was interested in purchasing some or all of Chrysler back when Daimler put it up for sale.
The impetus for the new rumor is Magna's recent hire of Wolfgang Bernhard, former product guru of the "Chryzler" side of DaimlerChrysler, as a consultant. He is most famous for his Terminator-style leather-wrapped appearance astride the Viper-engined Dodge Tomahawk concept motorcycle from the 2003 Detroit auto show. Bernhard has been playing around the periphery of the Chrysler drama from the beginning. He was hired by Cerberus before it took control of Chrysler and was expected to play a role in managing the newly divorced company. Didn't happen.
For its part, Chrysler, in the person of Chrysler President Tom LaSorda, denies that it is in discussions with Magna to sell its assets or even particular brands, models or production facilities. "We will not separate the brands from the company," said LaSorda. Further, LaSorda noted that the sale of assets would be complicated by stipulations of the federal loan program. "The loan agreement would never allow us to do that without going through the car czar."
Apparently Chrysler would happily sell the PT Cruiser off to someone though, according to LaSorda. Anyone? Bueller?...Bueller?...Bueller?
Stay tuned. We're still a long way from done with stories like this.
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