The Michigan Daily - michigandailycom
From page 1
cannot break his Chrysler habit
- was made public in letters from
Jerome B. York, Kerkorian's long-
time financial adviser and a former
Chrysler chief financial officer.
The letters were sent to Daim-
lerChrysler's chief executive, Diet-
er Zetsche, and to the company's
"Tracinda believes by taking
a long-term approach to solving
Chrysler's problems, it can become
a robust and lasting standalone
entity," the company said.
Kerkorian's bid for Chrys-
ler comes less than a year after
he bought 10 percent of General
Motors, got York put on the GM
board and then tried to broker an
alliance between the automaker
and Renault of France and Nissan of
Japan, both run by Carlos Ghosn.
Now, both Chrysler and the
union must decide how to respond
to the unexpected offer from Ker-
korian, who turns 90 on June 6.
The group of bidders seemed to
have been winnowed down to two
investment firms and a Canadian
auto parts company. Kerkorian tried
to be in the initial group, his attor-
ney, Terry Christensen, said yes-
terday. When JPMorgan, which is
handling the bidding process, did
not send the packet of information
provided to the others, Christensen
said, Kerkorian told him to make the
offer and handle the details later.
The bid has the support of Lee
A. Iacocca, Chrysler's former chief,
who joined Kerkorian in his 1995
Christensen saidhe didnotknow
whether Iacocca would want to
serve on the Chrysler board should
Kerkorian finally buy the company,
or whether York would serve as its
chairman or chief executive.
It is the second time in a dozen
years that Kerkorian has tried to
buy Chrysler, whose stock he first million for the exclusive right to
bought in 1990 when the company perform due diligence on Chrysler,
was battered by another industry with $25 million going to Daim-
downturn. That investment ulti- lerChrysler if the deal does not go
mately grew to 100 million shares, through.
and he reaped billions of dollars in Tracinda would give stock in the
profits when Daimler-Benz bought company to Chrysler employees,
Chrysler in 1998. something they had received after
Tracinda, which does not hold a federal rescue plan in 1979 that
any DaimlerChrysler shares,joined helped the company avoid bank-
Cerberus Capital, the Blackstone ruptcy.
Group and Magna International of That could take the form of an
Canada in making initial proposals employee stock ownership plan,
to buy Chrysler, which Zetsche said although Tracinda does not need
Wednesday had officially been put an ESOP to arrange financing for
up for sale. Magna's bid is thought the deal, Christensen said.
to be in the range of the Tracinda A Tracinda deal would also
offer, about $4.6 billion. The other depend on reaching a new labor
bids are said to be as high as $13 bil- agreement with the UAW, which
lion. opens national contract talks with
Tracinda's goal is to restore an Detroit companies this summer.
American automotive icon and run It would also hinge on whether
it with a long-term view, not as a Tracinda and DaimlerChrysler
short-term investment, the compa- could agree to share Chrysler's $18
ny said in the letters to Zetsche and. billion employee health care liabil-
DaimlerChrysler. ity, seen as a sticking point in any
Tracinda would put up $100 deal DaimlerChrysler might reach.
Christensen said Chrysler work-
ers would need to make sacrifices on
wages and benefits, something he
said that they would face in any case
given the poor financial conditions
at the Detroit auto companies.
"Obviously they will be asked to
give concessions, but they should
not have to do that for nothing,"
The offer was the first to become"
public in the seven weeks since
DaimlerChrysler said it was keep-
ing its options open for Chrysler,
which lost $1.5 billion last year and
has required two revamping efforts
since the 1998 merger that created a
global automotive giant.
It gives ammunition to Daim-
lerChrysler stockholders who have
called for the automaker to dump
Chrysler and regroup as a luxury
carmaker, focusing on Mercedes-
Indeed, investors greeted the bid
with enthusiasm. DaimlerChrysler
shares rose $4.24, to $84.80, an all-
Friday, April 6, 2007 - 7
time high when adjusted for splits
Yet the conditions put pressure
on Zetsche and union leaders to
give an indication whether they
would prefer to deal with Kerkori-
an or continue the bidding process
with those already in the fray.
Christensen said Kerkorian was
interested in receiving a response
as quickly as possible, and planned
to conclude his due diligence with-
in 60 days.
But analysts, industry executives
and bankers involved in the nego-
tiations all said Zetsche would be
best to bide his time.
"We are in contact with vari-
ous interested parties," a Daim-
lerChrysler spokesman, Han Tjan,
said Thursday. "Mr. Zetsche is very
pleased with the process and all
options are still open."
- Nick Bunkley contributed
reporting from New York, and
Ian Austen from Ottawa.
7 BDRM. HOUSE, Lease fell thorugh.
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AVAIL. MAY & Sept., eff. & 1-3
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Gallatin Realty Co. 734-368-0256.
AVAIL. SHORT TERM lease now
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FRIDAY 13TH IS your LUCKY
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Great Prizes given away.
GET FREE PARKING (where avail.)
when you sign a lease by April 15th.
That's a $300 savings! Act now! Call
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www.cappomanagement.com for a list
of available properties.
GREAT CAMPUS LOCATION. I
bdrm. and apartment, fully famished,
a/c, dwshr., above great summer bars,
$500 - negotiable, corner of S. Univer-
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FREE Dish Network!
On the following Apartments:
1309 S. University
1325 . University
1335 S. University Ave.
Ann Arbor, MI 48104
LARGE FURNISHED 3 bdrm. apt. on
S. State, Near UM bus stop, 5 min. to
Mich. Union. Avail. Now, Fall '07.
Heat & water incl. Bale., A/C, prkg.,
dry. $1500-$1700. No smkg./no pets.
734-996-3539 or 734-678-7250.
LEASING FOR FALL '06. Efficien-
cies, 1 bdrm., 2 bdrm., 618 & 624
Packard, 820 Ann & S. Main, & 537
MAY AND FALL Leasing 2007
Great Locations & Amenities
Wilson White Co., Inc.
MODERN BLDG. ON Old West Side
1015 W. HURON
Spacious 2 BR Idealfor Grad Students
Balcony or Patio. Furniture and Carpet-
ing. A little off campus, a lot less rent!
MODERN, FURNISHED I AND 2
BEDROOM APARTMENTS. Close to
Business School. Rent includes heat,,
water, sewer, gas for cooking, laundry,
security entrance, parking. Quiet,
smoke free building, no pets, current
occupants - grad students. $765, $1320
and $1525. 734-663-8487.
NEAR UNION STUDIO - 3 bdrm.
apts. 741-9300 annarboapartments.net
NEW FURNISHED 6 BDRM. APTS.
MAY & SEPT. 07 Group or Single
Leases. Now Thru AUG. 07 Limited
NO MONEY DOWN LEASES!
Nothing due till you
1335 S. University Ave.
Ann Arbor, MI 48104
NORTH CAMPUS 1 & 2 bdrms., pri-
vate balcony, FREE shuttle to central,
fitness room & much more. Pets Wel-
come. Models open Daily! 741-9300.
SAVE SOME GREEN AT DOVER
Pre-leasing for fall.
2 Bedroom Townhomes at 702.
PETS WELCOME SPACIOUS 1 & 2
bdnns. avail. immed., Hay, and Fall.
SPACIOUS 5BDRM. + Den
House!!!!! Available Fall '07
Located just 2 blocks from IM
Building. Furnished. Dishwasher.
Off-street Prkg. Washer & Drying
Included. (734) 668.1100.
SPRING IS AROUND THE
CORNER AT RIVER'S EDGE, Pre-
leasing for Fall
1, 2, and 3 Bedrooms Available
New Prices on Houses at
1208 Prospect: 6 Bdrm., $2999
1210 Prospect: 6 Bdrm., $2999
1301 Washtenaw: 6 Bdrm., $2999
1335 South University Ave.
Ann Arbor, MI 48104
Campus Area Apartments
SHORT TERM LEASES
Wilson White Company, Inc.
STUDIOS, 1, 2, & 3 bdrm. apts. lo-
cated on UM Campus. Call Michigan
Realty, 734-662-5500 or for more info.,
TWO BDRM., ONE bath. condo.
Hardwood firs., basement, all appli-
ances. Easy access to campus, free-
ways, and shopping. $1100/mo. Mered-
ith Woods, Charles Reinhart Realators
WHO WANTS FREE RENT?
All 2 bedrooms FREE August 07,
1/2 off Sept. 07 RENT!
*August Leases Only
!!!BARTENDING!!! $300 A day poten-
tial, Age 18+ ok. No exp. necessary,
training provided. 800-965-6520 x 125.
$10.00/HR. MICHIGAN TELEFUND
now hiring. Great Resume Builder! Ap-
ply @ telefund.umich.edu or 763-8180.
A GIFT BEYOND measure. Be an Egg
Donor Em $6,000! Mast be 20-28
years of age, height/weight proportion-
ate, and a non-smoker. Please call:
Alternative Reproductive Resources at
BOOK KEEPER/FRONT DESK clerk.
Murray Hotel, Mackinaw Island hiring
summser help now. Call 1.800.462.2546.
DOMESTIC HELPER. MON. & Wed.
2-3 hrs./day. Paid $10/hr., Ann Arbor.
Call PJ 248-722-7250.
EARN $15. HAVE you ever been diag-
nosed w/ depression? UM students who
have previously been diagnosed w/ de-
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search on goals & well-being. The
study will take less than 1 hour to com-
plete. Must be a UM student; 18 years
or older. If interested, please call
EARN $800-$3200 A month to drive
brand new cars with ads placed on
ing nanny for 4-year-old boy in Burns
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April. Mon.-Fri. .9-11:30am and Sun.
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ble about the schedule.) College/Gradu-
ate students welcome. 734-678-8861.
Please leave message.
GOT SUMMER PLANS?
Do something with your time that will
benefit you financially and especially
your future. Average first year intern
monthly profit $2,648.00. For details
K . AA .AA . I
P/T ADMINISTRATIVE POSITION
Property Management Co. seeking ded-
icated and detail oriented individual to
take on administrative duties.
Experience in customer relations and
computer applications are critical.
Flex. hes., 20 per week, must be avail.
one weekend day each week.
Please fax or email cover letter and re-
sume to: Fax:734-663-3641 or Email:
LOVINGFRIENDLY COUPLE indes-
perate need of Asian egg donor to start
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compensation for your inconvenience:
$8K +expenses. Call Dawn @ FA, Inc
951-696-7466 or email at
PAID DISCUSSION $100, April 17. 2
hrs. Need 20 female UH studentsrage
18-24 who suffer from migraines or se-
vere headaches. No medical testing!
Convenient A2 location south of Briar-
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aged. Call 734-332-1049to register.
Paid survey takers needed in Ann Ar-
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Click on Surveys.
PAINTER-RESIDENTIAL 1 - 2 yrs.
exp. required. Ann Arbor based com-
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honest, and hard working. Reliable
auto and drivers liscence required. Call
ONLY between 9am and 1pm M - F.
WORKING ON MACKINAC Island
this Season - Make lifelong friends.
The Inland House Hotel and Ryba's
Fudge Shops are looking for seasonal
help in all areas: Front Desk, Bell Staff,
Wait Staff, Sales Clerks, and Starbucks
Baristas. Housing available, bonus, and
discounted meals. Call Ryan at 1(800)-
!!GREAT SUMMER JOB!! Perfect for
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on field trips, birthday parties, work
outside, some fish cleaning. May
through Aug. $8/hour. Spring Valley
Trout Farm. Dexter. 734-426-4772 or
CAMP COUNSELORS NEEDED for
great overnight camps in the Pocono
Mtns. of PA. Gain valuable experience
while working with children in the out-
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Apply on-line at:
PALIO IS NOW hiring servers, hosts,
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ing. We're looking for people who have
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good judgement, great people skills
and an eye for detail and quality. Com-
petitive pay, dining discounts and a
great working environment. Candidates
must be able to work weekends. Apply
in person daily after 3:00 p.m. 347 S.
SUMMER CHILDCARE NEEDED in
our Ann Arbor home for 6 yr. old & 11
yr. old. Excellent references & own
transportation req. 7 am - 4 pm M-F.
CHILDCARE IN MY home Mon.-Fri.
4-6pm for 2 children ages 10 & 12.
Auto required. Call Pam at 330-4314.
JUST STARTED LOOKING?
LOOK NO MORE...
2 BEDROOM APARTMENTS
STARTING AT ONLY
*per person with 4 on the lease
FREE RENT ON
ALL APARTMENT RENTALS
*special ends at anytime
AVAILABLE NOW WILLIAM and
Division, 1/2 Bdrm. apts. with security
buzzer, separate storage & laundry fa-
cilities. Gallatin Realty Co.
AVAILABLE NOW! ROOM and 3
bdrm. apt. in great location. $600/mo.
Heat & Water incl. 665-8825.
AVAILABLE SEPT. 1ST. William and
Division. Efficiency, I bdrm., and 2
bdrm. apts. with security buzzer, sepa-
rate storage & laundry facilities. Gal-
latin Realty Co. 734-368-0256.
BUSINESS/LAW SCHOOL IS just a
short walk for these spacious I bdrms.
avail. Spring/Fall 2007. 741-9657.
DOWNTOWN QUIET LOCATION. 2
bdrm. apt. & also 1 bdrm. loft apt. Call
Days: 662-7888, Evenings: 995-2433.
EFF., 1-4 BEDROOM Apts. & Houses
Available for Fall. PMSIProperties.com
$$ SPRING/SUMMER SUBLETS $$
Many to choose from! Stop by
625 Church or call 734-668-1100.
APTS., SUBLETS, & Rmmte(s). List
and Browse FREE! All Cities & Areas.
1-877-367-7368 or www.sublet.com
FREE SPRING/SUMMER SUBLET
finder! Studio - 6 bdrms. Call 741-9300
for a complete list.
FURNISHED EFFICIENCY ON main
campus, includes a/c, heat, elec., water,
and internet. Avail. May 1-Sept. f. Call
SPACIOUS 2 BDRM. apt, furn., free
parking $650/mo. 1025 Packard. Call
SUBLET AVAILABLE! LESS han
5 min. from Union. $350/mo. VERY
neg.! Contact 702-469-8951 or
SUB LEASE LOWER-LEVEL Room
in condo by Busch's Plaza. $550/mo. +
util. Call 800-392-6059.
DISCOUNT DENTAL PLAN, FREE
Vision, Prescription & Chiropractic
Care. Single: $1195/mo. HOUSE-
HOLD: $1995/mo. (includes up to 20
PRIVATE TUTORING FOR LSAT,
LAW SCHOOL, BAR EXAM
- perfect 180 on LSAT
- Michigan Law graduate (3.85 GPA)
- licensed attorney
- 14 years of teaching experience
- hundreds of delighted students
tPotential Earnings of
X36841250 per week!
*up t041,000 lIamonthly
*Performanceb ased Paid Vacations!
*On the Job fraining!
*Many Positions Available!
HEALTH BENEFIT REP. P/T, bene-
fits included, No experience, will train.
seeking Asian Indian Egg Donor- Gen-
erous compensation.We are looking for
a healthy, non-smoking egg donor with
good academic record. Please contact
us at firstname.lastname@example.org or call (248)
593-6990, reference # AKS8880.
LOOKING FOR WAITSTAFF at Ann
Arbor Golf & Outing. Please contact
Jackie at 6634044 ext. 4.
Earn up to $150 per day. Exp. not Re-
quired. Undercover Shoppers Needed
to Judge Retail and Dining Establish-
ments. Call 800-722-4791.
SWIMMING POOL SERVICE and
construction. Fast paced outdoor work,
weekends off. Top pay for hard work-
ing, self- motivated people to work in
the NW DETROIT SUBURBS.
748-477-7727 or 248-755-9736
For Friday, April 6, 2007 hay while the Sun shines.
(March 21 to April 19) (Oct. 23 to Nov. 21)
In the next few weeks, you might find Parents must be extra patient with
yourself engaged in secret or backroom children in the next few weeks.
activity for some reason. You're defi- However, you'll have lots of opportunity
nitely going to work behind the scenes. for fun, romance and playtime!
(April 20 to May 20)
You can expect to be much more Increased tension or chaos and activity
involved in activities with others in the at home will test your patience. Do-
month ahead. Join clubs, gyms and whatever you can to smoothe over trou-
classes. It's a good time of year to get bled waters.
more active! (M82lC I c. 21)
GEMINI (Dec. 22to Jan. 19)
(May 21to June 20) Your persuasive powers are very
Your ambition. definitely is aroused strong now. You can outtalk, outthink
now, and it's going to stay that way for and outsmart practically anyone in the
the next six weeks. Use this energy to next few weeks.
accomplish as much asyou can. (It's like AQUARIUS
rowing with the tide.) (Jan. 20to Feb. 18)
CANCER You have a strong desire to, spend
(June 21to July 22) money, and an even stronger desire to
Travel plans and anything connected earn it! Your focus is on your cash flow
with publishing, the media and educa- in the month ahead. Ka-ching!
tion are beginning to excite you. These PISCES
are areas where you're willing to put a (Feb. 19to March 20)
lot of energy in the month ahead. Today Mars moves into your sign,
LEO where it will stay for the next six weeks.
(July 23 to Aug. 22) Thin given you lots of get-up-and-go.
Your sex drive isdefinitely increasing! Your increased energy will make you
This could be because you have found assertive and active in everything you
the love of yosr life. Many Leon are do.
experiencing this in 2007. (Woo voo.) YOU BORN TODAY You're innova-
VIRGO tive, imaginative and clever. You see
(Aug. 23 to Sept. 22) new ways of doing things. You're obser-
Today Mars moves opposite your sign, vant, and you love to experiment. You
where it will stay for the next six weeks. want to get tothe truth of things. You're
This encourages conflict with others. entirely open to new approaches to any-
Consider it your opportunity to demon- thing. Use this wonderful quality in the
strate grace under pressure. year ahead to explore new avenues and
LIBRA open new doors. You're beginning a new
(Sept. 23 to Oct. 22) cycle in your life.
You have a lot of energy and determi- Birthdate of: Zach Braff, actor; Merle
nation now to get better organized in Haggard, country-western singer; Walter
your life. Capitalize on thin and make Boston, actor.
,20017 King Fetrs Soc yndicate, tnc.