Filed under: Government/Legal, Daimler, Mercedes-Benz, Earnings/Financials
DaimlerChrysler escapes Iran
DaimlerChrysler isn't planning on sticking around to see what happens if and when Iran unleashes its nuclear weapons, according to industry reports. Along with Reuters and CNN, the German weekly magazine WirtschaftsWoche is reporting that DaimlerChrysler is divesting the 51% stake it currently holds in Setareh, the exclusive distributor for Mercedes-Benz in the country.
According to the reports, DCX is responding to heavy pressure brought to bear by the White House on companies doing business in and with Iran. Economic isolation is one of the means the United States administration has at its disposal in order to pressure Iran to abandon its aggressive nuclear weapons program.
DaimlerChrysler has grown into the fifth largest automaker in the world. Following the announcement, DCX shares fell by less than a percent on the New York Stock Exchange.
Other manufacturers continue to do business with Iran; it remains to be seen whether competing automakers will follow the Mercedes example and divest as well.
[Source: CNNMoney.com]
_opt_thumbnail.jpg)
Reader Comments (Page 1 of 2)
SSBR 1:16PM (2/13/2007)
Damn.. Iran using C-Class's for police cars..
Reply
ruggels 1:16PM (2/13/2007)
hmm... there's only one logical step after this, embargo their iPods too.
Reply
sivadgkram 1:28PM (2/13/2007)
All your base R belong to us.
http://en.wikipedia.org/wiki/All_your_base_are_belong_to_us
Reply
oliver 1:42PM (2/13/2007)
Iran is awesome. "Setareh" means "star" in farsi.
Don't attack me. I am not part of the axis of evil.
Reply
M. 2:07PM (2/13/2007)
What will happen to the good Iran Khodro trucks?
http://www.ikco.com/products/2624.aspx
Reply
fizzandpop 2:13PM (2/13/2007)
Jesus! Mercedes are usually the LAST people to abandon a country due to politics. In the 20th century, there hasn't been a crazy despot or mass murdering leader that they haven't wanted to do business with. Either Iran is truly batshit, or it's the price of buying a US car company and dealing with the meddling gubmint. I suspect the latter.
Reply
MikeW 2:49PM (2/13/2007)
So what false flag terrorist act are they going to blame on Iran?
Reply
TechnoLogic 2:53PM (2/13/2007)
As far as I know, his blog post should be corrected to indicate that at this point Iran is only *alleged* to have a nuclear weapons program, and thus far no such program or weapons have been declared as fact by either the UN, the IEAE (International Atomic Energy Agency), the US, nor the government of Iran itself. The only thing everyone agrees on is that Iran has declared that it is trying to develop a nuclear energy program to generate domestic electricity. It should be noted that while Noah Joseph's blog post here speculates on 'if and when Iran unleashed its nuclear weapons', and assumes Iran has an 'aggressive nuclear weapons program', the CNNMoney.com article that Joseph actually links to is careful to say only that Washington 'accuses' Iran 'of harboring ambitions to develop nuclear weapons. Iran insists its nuclear energy program is for peaceful purposes.'. Noah Joseph's post assumes things that as of yet have not been determined to be true.
And as the baseball coach in the 'Bad News Bears' famously said, it is dangerous to assume things because it can make an 'ass' of 'u' and 'me'. We all know what happened the last time our leaders in Washington made a similar assumption, with Iraq.
Reply
djSyndrome 3:09PM (2/13/2007)
This writeup is completely irresponsible. While I'll agree that Iran isn't the patron saint of the Middle East, there is zero evidence that a nuclear weapons program exists. Yet your article implies that not only is there a program, but they already have weapons in stock and ready to deploy.
Then again, you wouldn't get as many hits without putting a libelous political slant behind your writeup now, would you?
Reply
CoffeeJones 3:25PM (2/13/2007)
The article's wrong, the C class Benzes belong to the Iranian Fashion Police.
http://news.bbc.co.uk/2/hi/middle_east/6213854.stm
Reply
Doug R 3:27PM (2/13/2007)
Darn you infidels! You anger Allah! We better than you! We build nuclear car we shall call "Camel". So it is written, so it shall be done.
Reply
Matt 3:29PM (2/13/2007)
Oh my gosh! Autoblog, a BLOG, posted THEIR OPINION, in POLITICAL COMMENTARY! BLASPHEMY! :P
Reply
Mark 3:42PM (2/13/2007)
As an avid autoblog reader i'm kinda disgusted by this story..
"when Iran unleashes its nuclear weapons"
"abandon its aggressive nuclear weapons program"
Considering it hasn't been proven that Iran has a weapons program yet (the very reason the political route rather then the military is being used at this time), I'm kind of amazed at this poor piece of journalism. Sure this is a car website and its more for fun then news, but there should be some basic standards here.
Unless autoblog has discovered some proof that the rest of the world hasn't yet? :)
Hint, keep your personal opinions out of your reporting, you are in a position of power in the media; abuse it and you will loose the trust of your readers, you've lost me today.
Reply
Justin Lui 4:07PM (2/13/2007)
About Matt's tongue-in-cheek comment (#12), writing 'I think Iran has nuclear weapons' is OPINION. Writing 'Iran has nuclear weapons' is an unproven assertion and is BAD JOURNALISM.
Reply
BigZ 4:31PM (2/13/2007)
I am amazed at the lack of concern with most of the posters about Iran. Iran is a serious threat and the best way to eliminate that threat is to crash their economy. This stops war and is what we did to Russia years back. Iran has promised to attack Israel. This is a fact and they have also promised to attack and destroy the US. Stop hating America and start standing up for your country. Do some research and see what is really taking place.
Reply
Colin Smith 4:47PM (2/13/2007)
The sensible thing would be to give Iran Most Favoured Nation status.
Then it would get rich, the people would travel again, its oil industry would be revived and increase production - so helping world supplies, and the Mullahs would lose their influence.
This option was never tried in Iraq; instead, they were poked with the sanction stick and Saddam was able to use his nation's victimisation to his own ends.
Nothing learned then.
Reply
Max 5:10PM (2/13/2007)
I must agree with the other commentators. This post is indeed reckless and an example of sensational journalism. Iran does not have nuclear weapons and the IEAE has confirmed that Iran is not seeking to produce them.
Reply
rwdmtparkingonly 5:41PM (2/13/2007)
It still seems like DCX will be selling cars to Iran, they're only getting rid of their ownership interest in the distributor, not cutting off sales to the distributor.
Reply
oivey 8:27PM (2/13/2007)
they made the ovens you know
Reply
Doug R 9:23PM (2/13/2007)
Of course Iran hasn't been developing nuclear interests. Just like Sadaam wasn't really captured and Osama Bin Lama is just a cartoon figure, sort of like Mickey Mouse. Those buildings just look like nuclear facilities. They're really just the latest skating rink and indoor camel racing.
There is no terrorist threat, the World Trade Center just came down on it's own, or the Jews did it. Oh I forgot, the government blew them up so we could go after all that oil! They're puppets of Haliburton you know.
You kids are amazing. To think 9/11 wasn't enough and it'll take another tragedy (probably nuclear) before you pull your heads out. Even then you'll probably revel in your ignorance. I'm sure you'll be looking for someone to blame as well.
Reply