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This text tells the true story of the merger between two of the world's biggest car companies, which created a global giant, in 1998. Combining narrative with first-hand analysis, David Waller uses the example to present tangible lessons for managers involved in global business.
- Sales Rank: #5229868 in Books
- Published on: 2001-03-01
- Original language: English
- Number of items: 1
- Dimensions: 9.25" h x 6.25" w x 1.50" l,
- Binding: Hardcover
- 320 pages
From Publishers Weekly
In 1998, when news of the Daimler-Benz/Chrysler merger was announced, it shocked most of the industrialized world, but you'd hardly know that from this dull account. While gigantic mergers are mundane in the global marketplace, this merger, between a German company and a U.S. company, involved touchy issues of national identity, evident when a CNBC reporter pointed out, "Chrysler produced tanks for General Patton and Mercedes was producing war armaments for Adolf Hitler." Even though the deal was touted as a joining of equals, the reality was that it was a friendly takeover of Chrysler by Daimler-Benz. Waller aims at an overview, giving brief portraits of both companies' histories and corporate personalities, as well as details of the secretive deal making and legal wrangling that culminated in the final merger. While the book competently fulfills these aims, Waller fails to shape it into a dynamic narrative. Many of the primary playerssuch as Chrysler CEO and chairman Bob Eatonreceive cursory treatment. The striking exception is Eaton's counterpart, Jrgen Schrempp, the chairman of Daimler-Benz's board of management and the architect of the deal, whose life and character Waller copiously details. While this imbalance probably derives from the author's years of covering German business for the Financial Times, more time researching the American end of the deal would have made this account more appealing to readers in the U.S. B&w photos.
Copyright 2001 Cahners Business Information, Inc.
From Library Journal
The Daimler-Benz and Chrysler merger in 1998 marked a new point in both the consolidation of the auto industry and the globalization of business in general. Waller, a London-based business consultant and former Financial Times correspondent, writes a fast-paced narrative and analysis of the merger. He devotes his first two chapters to a history of each company, then sketches the business climate of the 1990s, when J?rgen Schrempp, the new CEO of Daimler-Benz, began to restructure the company and look for a merger to keep it competitive. Waller describes Schrempp's first overtures to Chrysler, the ensuing hectic negotiations, and finally the merger itself, which left the German managers in effective control of the new company. Waller describes and analyzes the difficulties in integrating German and American business culture r-Benz's luxury car-oriented, quality-at-any-cost philosophy. Because it deals with globalization and two of the world's major consumer icons, the book is recommended for most business collections in both academic and public libraries. Lawrence R. Maxted, Gannon Univ., Erie, PA
Copyright 2001 Reed Business Information, Inc.
Review
"Time spent here is an enjoyable investment." -- Kirkus Reviews
Most helpful customer reviews
0 of 0 people found the following review helpful.
Wrong on all Counts
By John Mccarrier
This book is a lesson in the danger of making predictions about business leaders and their strategies.
The primary theme of this book is that Chrysler was exactly the partner that Mercedes Benz badly needed in 1998 in order to remain a viable car manufacturer in a rapidly consolidating international industry. This proved to be wrong in two ways. Chrysler turned out to be a terrible partner. Also, Mercedes Benz is currently doing fine without them or any other partner. A secondary theme is the brilliance of Jurgen Schrempp in guiding Daimler-Benz AG. He resigned from Daimler-Benz AG in 2006, five years after the book was published. Chrysler was sold in 2007 at a huge loss. Schrempp also arranged the purchase of a partial ownership in Mitsubishi in 2000. Daimler suffered another huge loss when it sold this interest in 2005.
The author was equally wrong in almost every prediction he made in 2001 about the future of the international auto industry. He saw Ford’s purchase of Jaguar and Volvo as brilliant strategic moves. He predicted the exit of the Agnelli family from the auto industry with their sale of FIAT to General Motors. He predicts the slow demise of BMW without a merger partner.
The last chapter of the book discusses the major problems that Chrysler was having in the first year after the takeover. Rather than reevaluate and possibly revise the 270 pages he had already written the author apparently decided to ignore the signs of potential disaster and take his chances with an optimistic forecast about the future of the takeover.
1 of 3 people found the following review helpful.
Truely an insider story...
By Dav
A very candid, insightful and easy to read accounts of what went on behind the scene of the DaimlerChrysler meger, begining with a good intro on the backgrounds / history of these 2 organisation... A very well written book.
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