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Chrysler sold, Ford up next
Members of Ford Motor Co.'s founding family are discussing the sale of part of their controlling stake in the money-losing automaker, three people with direct knowledge of the talks said.
The value of the shares has plummeted to $584 million from $2.3 billion since Bill Ford, great-grandson of the founder, became chairman eight years ago. The automaker eliminated dividends in September, wiping out about $85 million in annual income the family received as recently as 2001, when the shares paid a 30-cent dividend.
Ford shares rose to $8.46 today in trading in Frankfurt after DaimlerChrysler AG said it will sell 80.1 percent of its Chrysler Group to Cerberus Capital Management LP.
the dog that guarded the gates of hell will be "guarding" uaw pension fund ?