DaimlerChrysler sells Chrysler to Cerberus for $7.4B
CBS News
Transcript
[Music] the number three us automaker is going private after 9 years Daimler Chrysler is selling its money losing Chrysler unit to private Equity Firm Cerberus for 7.4 billion it's a fraction of the 37 billion it paid back in 1998 union workers had been concerned about what private ownership would mean for the automaker but the head of the UAW says he supports the deal and now there's talk that Ford Motor Company's founding family may sell part of its controlling stake in that struggling automaker but that did little to help the overall Market which finished mixed ahead of tomorrow's report on consumer inflation for April the DOW Industrials Rose 20 points but the NASDAQ composit slipped 15 Walmart is launching a major expansion of its Electronics products among the changes it's adding handsets and headsets that work with Skype that's the internet phone provider and the cost of mailing a car or letter goes up 2 cents today to 41 cents the new Forever stamp is also available it will remain valid regardless of any future rate increases and that's your money watch log on to cbsnews.com for more in New York I'm Alexis christopherus