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i1connect News Calls Imperato on Chrysler Based on London Financial Times Interest

05-29-2007 01:40 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: i1connect

West Palm Beach, Fl – Recently, i1connect has contacted the London based Financial Times, and its Chrysler Reporter, Bernard Simon, regarding the recent acquisition of the Chrysler Corporation by Cerberus Capital and its affect on the UAW workers.

The Financial Times expressed that they would be looking for a story that would include either an official lawsuit filed on behalf of the workers or stronger support on the validity of the Chrysler Employee Buyout Committee's offer for Chrysler.

After speaking with the head of the workers group as well as key consultants to the employees, i1connect contacted Chrysler bidder, Daniel Imperato for his comments.

"I have been in touch with lead consultant Richard Cares out of Connecticut, who has been working with the investment banking group in New York and representing the interest of Michele Mauder on behalf of the UAW workers. It appears that an agreement will be struck where I will join forces with the group and will be tasked with preparing the financing and scouting for an international legal team to represent the group," stated Imperato.

In addition, Imperato stated that once officially on board with the Chrysler Employee Buyout Committee he will reach out to fellow Chrysler bidder Kirk Kerkorian to
"become a true humanitarian" and "support the cause for the workers" in order to "show the American workers that he cares about people and not just profits."

Imperato also stated that he will be reaching out for former Chrysler CEO Lee Iacocca, and Kerkorian's Lieutenant at Tracinda, Jerome York to form a powerful group to protect the interest of Chrysler's UAW workers.

The next step according to Imperato would be to prepare his recommendations for an international legal counsel to determine proper jurisdiction and the most appropriate avenue to have the voices of the workers heard at the offer table.

Imperato then described a unique exchange that he had between him and the Chrysler Corporation.

"I received a call from Daimler Chrysler and the financial department with no name attached to it. I referred it to my financial people and asked them to request a formal written letter from Daimler Chrysler, a copy of the offering document which I have been denied from JP Morgan Chase, and a written response form the UAW and Ron Gettelfinger regarding a letter that I wrote to him several months ago, to which he has not responded."

In order for Imperato to meet with DaimlerChrysler AG executives as well as UAW leadership, Imperato said that he would request a formal letter from all parties that clearly states their intent to proceed with the workers in an open and fair manner.

Imperato concluded the interview by stating, "I have committed to work with the employee buyout group and am awaiting a formal response from them. I will state that I will do whatever it takes to have the workers heard and our plan presented to the powers that be. If that does not happen, I will recommend to the group that international legal counsel be retained to proceed forward and to inform Daimler Chrysler to govern themselves accordingly."

*** This release has been created by i1connect, an independent news agency.***

About i1connect:
I1 Connect ( is the new online leader in global public relations and advertising. With a diversified set of offerings ranging from Public Relations, Press Releases Distribution, Advertising, Marketing, Website Development, to Investor Relations services, has positioned itself for a long term growth utilizing the latest in telecommunications technology.

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