WEST PALM BEACH, FL (www.hedgeco.net) – The Chief Financial Officer of DaimlerChrysler has told German newspapers that Hedge fund companies now control between 10 and 15 percent of the shares of theGerman Auto maker, DaimlerChrysler. Bodo Uebber said in an interview, “Based on our analyses, we estimate hedge funds hold some 10 to 15 percent of our shares.� The Daimler CFO however said he doesnot agree with statements made by German Officials recently that Hedge Funds are like �locusts�. Hedge Funds have been recently criticized by German government officials because of their activitiesin the country.
He also said, “We have a completely different shareholder structure than Deutsche Boerse,” adding, “I don’t see this as a danger for DaimlerChrysler.” He nevertheless believes a greater transparency for the German Hedge Fund Industry was in order. Such regulation according to Uebber is needed to enable the market to function more efficiently.
Commenting about the troubles of the Detroit auto makers, General Motors and Ford, Uebber said, “Over the mid-term a competitor that files for Chapter 11 could actually be strengthened, if for example the heavy burdens from pension and health-care costs can then be shaken off.� He further stated that filing a chapter 11 bankruptcy by General Motors and Ford could help them shake off additional debt. He added, “They comprise between 10 and 20 percent of overall costs.” He also explained that both GM and Ford had sufficient possibilities for financing.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
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