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Taken for a Ride: How Daimler-Benz Drove Off With Chrysler Paperback – June 19, 2001

4.6 4.6 out of 5 stars 99 ratings
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Here is the book that exposed the Daimler-Chrysler "merger of equals" as a bold German takeover of an industrial icon. Taken for a Ride reveals the shock waves felt around the world when Daimler-Benz bought Chrysler for $36 billion in 1998. In a gripping narrative, Bill Vlasic and Bradley A. Stertz go behind the scenes of the defining corporate drama of the decade -- and in a new epilogue chart its chaotic aftermath.

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Previous page
  1. Print length
    432 pages
  2. Language
    English
  3. Publisher
    Harper Paperbacks
  4. Publication date
    June 19, 2001
  5. Dimensions
    5.31 x 0.98 x 8 inches
  6. ISBN-10
    0060934484
  7. ISBN-13
    978-0060934484
  8. See all details
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Editorial Reviews

Review

"An excellent book."--"Washington Post"A fascinating, page-turning read."--Larry King, "USA Today"Superb."--"Newsweek"Filled with new information and gives a masterful portrait of all involved."--"Barron's

About the Author

An award-winning business reporter with more than fifteen years of experience specializing in the automotive industry, Bill Vlasic is currently the Detroit bureau chief for the New York Times. The coauthor of Taken for a Ride, Vlasic is a winner of the Gerald Loeb Award for excellence in financial journalism and has been recognized for his reporting and investigative journalism by the Associated Press and the Society of American Business Editors and Writers.



Bradley A. Stertz is an assistant managing editor of the Detroit News and a former reporter with the Wall Street Journal. He lives in Grosse Pointe, Michigan, with his wife and two children.

Product details

  • Publisher ‏ : ‎ Harper Paperbacks (June 19, 2001)
  • Language ‏ : ‎ English
  • Paperback ‏ : ‎ 432 pages
  • ISBN-10 ‏ : ‎ 0060934484
  • ISBN-13 ‏ : ‎ 978-0060934484
  • Item Weight ‏ : ‎ 12.6 ounces
  • Dimensions ‏ : ‎ 5.31 x 0.98 x 8 inches
  • Customer Reviews:
    4.6 4.6 out of 5 stars 99 ratings

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Customer reviews

4.6 out of 5 stars
4.6 out of 5
99 global ratings

Top reviews from the United States

Eighch Dot
5.0 out of 5 stars LOVED IT. The author does a wonderful job of ...
Reviewed in the United States on March 25, 2017
Verified Purchase
Bought this book used from Amazon a couple years ago. LOVED IT. The author does a wonderful job of bringing you into that space and giving spirit and personality to names you may (if you're a gear head) known for years. It's eye-opening. It's intriguing. And best of all, it's a real page-turner. I found myself taking this book with me even when I was in the bathroom!!!LOL But I think what I loved learning the most was how deeply the old-guard truly cared and loved their companies. No, they didn't always make the best decisions for a good outcome, but they were passionate and damn if I don't miss that in American business, now. Oh, for the good old days.
2 people found this helpful
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Benedict Park
5.0 out of 5 stars A Book About Leadership
Reviewed in the United States on June 15, 2000
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Being an automobile fan, I became intrigued at how car companies manage to pull off age-defining cars like VW Beetle or Citroen DS, or be mired and be brought down like that of current Nissan. Overall, most of the car companies do make excellent cars, but their prosperity is not always guaranteed - Nissan was and still is a considerable technological force in the automobile industry, yet failed to gain market share; its share in Japan declined for more than 26 years.
So what does this book show the readers? Simply, leadership. Although I too was familiar with the DaimlerChrylser merger story, the loss of Chrysler leadership during the vital merger process was not known to me before to this detail. The Chrysler side was "acquired" regardless of its huge profit because there failed to be sufficient Chrysler executives who would fight Daimler-Benz side for the Chrysler's benefit during the merger process . If there were any, they were subdued by the silent and moody chairman of Chrysler. Even the head of Daimler-Benz, Juergen Schrempp, is said to have been surprised to see lack of the vibrant leadership that made surprising cars like Dodge Viper and Plymouth Prowler during early 90s. This is a very vital point, as I am reminded of what Bill Gates is said to do in MicroSoft; he likes to see people stand up for their views even if it is right or wrong. I believe that the word meant here is 'guts', and that requires a lot - plenty of knowledge, right attitude and high self-esteem.
Alas, it seems that as Chrysler lost too many people that had guts - ironically, that was the same title for the book written by a former Chrysler vice chairman, Bob Lutz, under whose command cars like Viper, Prowler and PT Cruiser were born -, so was its once outstanding leadership just in time for the merger. Like some black-and-white pirate movie, the floundering Anglo-Saxon ship loaded with gold were aboarded by some Teutonic warriors whose ambitions are to conquer the title of the leader - fuehrer? - in world transportation.
It was more sad to see that people with such 'guts' who left Chrysler were somewhat victims of internal politics, but I came to acknowledge that the merger was more inevitable as Chrysler lost many of its excellent crew anyway.
All in all, this book manages to unravel a breathtaking story that portrays an industry's dilemma, clash of two gigantic companies and two national and continental cultures, confict of interests, human behavior and betrayal, lust for money, a rise of German icon at a loss of an American icon.
If you do not know much of what happened during the DaimlerChrysler's birth and is interested in any field of business, this is a book you could read during this Summer at a breeze's pace.
11 people found this helpful
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Rick Spell
4.0 out of 5 stars Excellent business analysis similar to the RJR takeover
Reviewed in the United States on October 11, 2001
Verified Purchase
An excellent in-depth analysis of the takeover of Chrysler by Mercedes. As in so many other business stories, it seems to boil down to egos and personalities. In this case, the Chrysler chairman is not an aggressive outgoing leader like Bob Lutz, his second in command. Eventually, this character flaw may have led to the takeover of Chrysler as he didn't feel they could go it alone.
But personalities are really the key on the Mercedes side where their outgoing chairman loved his job and all the perks that came with it. Including the opportunity to make his mark in German history. Clearly, he out negotiated Chrysler.
But there is a third party to this story and that's how the book opens with an analysis of Kirk Kerkorian's takeover attempt with the famous ego maniac, Lee Ioccoa.
With all these egos in one story, it's just a matter of time till a blow-up with billions of dollars lost by shareholders. Particularly, Kerkorian who has lawsuits pending.
Yes this is a long book which can get bogged down in detailed analysis of negotiations. But the business case study is exceptional and worth the read if you enjoy cars or exceptional business stories.
5 people found this helpful
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Andrew
5.0 out of 5 stars Piercing the Corporate Veil
Reviewed in the United States on January 22, 2002
Verified Purchase
You know the old saying, you don't want to know how frankfurters and laws are made because it would make you nauseous. This fascinating book adds corporate mergers to the list.
America is unique place. In any other country on the planet, if a foreign firm was able to gobble up a leading and very healthy automaker under false pretenses, it would be a national scandal. Yet, when DaimlerBenz took over Chrysler in 1997 and later proclaimed that it was not a merger of equals as promised to the American shareholders, but that Chrysler would be assigned a rung in the Daimler empire, it was news only in American auto industry circles.
Reporters Vlasic and Stertz have done a herculian task detailing how the deal was done and a great American company undone in the process. Their account focuses on the characters of the dealmakers, giving the book the feel of something between a Robert Altman film and a Shakespearean comedy. They interview scores of leading auto industry execs, as well as getting numerous insights from off-the-record sources. Always they maintain their objectivity: the authors do not condemn the two men at the heart of the deal, Chrysler CEO Bob Eaton and Daimler head Jurgen Schrempp: the facts do.
Bob Eaton, the career engineer thrust into a leadership role of America's No. 3 carmaker comes off as a good man and a dangerous leader. He is weak, uncommunicative, soft at the wrong times, hard at the wrong times and maddeningly opaque most of the time. It is not clear why he pushes so hard for the deal, which presents more unknowns than benefits. Clearly, a big premium on his stock options and a fat bonus were in it for him. The authors catch the cracks in Eaton's personality by detailing the numerous times he breaks down and weeps while addressing his troops. Why was he always weeping? Was it guilt? Love? Shame?
Schrempp, though the authors seem to fight against such an easy characterization, was the villian. He himself, to his own detriment in one of the great PR gaffes in corporate history, admitted that he approached Chrysler for a partnership, when in fact all he was interested in was adding another jewel to the Daimler crown. After the deal is done, in passsages that I found painful to read, the American executives get a taste of the real Schrempp, when they get treated with less respect than Daimler washroom attendants. Schrempp comes off as a rapacious German cowboy and reckless CEO, more interested in doing deals than creating value.
This book is a compelling account of how the personality foibles and shortcomings of our corporate chieftans impact our lives and the wealth of our society. While it wasn't enough to turn me into a rabid Naderite, it has opened my eyes to the need for greater accountability of CEOs in America.
8 people found this helpful
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Top reviews from other countries

WoodworkingWolf
5.0 out of 5 stars Excellent book going to the roots of German arrogance
Reviewed in Canada on September 1, 2018
Verified Purchase
Good read for those interested in automotive history confirming what I always thought no " marriage of equals "
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