Monday, March 23, 2009

If you ever needed a reason not to buy Mercedes cars

Even if I was rich... I wouldn't ever buy a Mercedes - and now I have one more reason:

Abu Dhabi Fund Takes 9.1% Daimler Stake
German automaker Daimler has a major new shareholder. The Stuttgart-based maker of Mercedes cars and trucks said March 22 that Abu Dhabi-based Aabar Investments is paying $2.6 billion for a 9.1% stake, becoming the company’s largest shareholder. Daimler says it will use the injection of fresh capital to develop electric cars and other technology to save fuel and reduce greenhouse gas emissions.

There are several reasons why the Aabar deal looks positive for Daimler. While the company’s financial situation has not been so bad that it needs a government bailout, Daimler is at the very least suffering from a quandary that afflicts all the big carmakers. Sales and profits are collapsing just as the companies are under pressure to invest in technology to reduce CO2 emissions and fuel consumption. The new shareholder makes it much easier for Daimler to devote resources to research and development.


There are many Jews who would never own a German car, although today's Germans are not the enemy of the Jewish people. However, the antisemites at Abu Dhabi are without a doubt haters who promote Jihadi violence around the world.

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