on 2040-cars
Grande Prairie, AB, Canada
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Hello everyone,
I found this car at a farmers place near my hometown in northern Alberta. I spotted it from the road so I decided to drive in. Nobody was home so I left one of my business cars with a note in their mailbox. I was surprised to get a call back. I didn't go and look at it as I didn't want to be snooping around. He said he may be interested in selling so I headed back over to his place the following Monday. When I got there we had coffee and BS'd about cars etc for a while. When we were walking out to the car he asked if I wanted to drive it! I was surprised that it ran. And it runs quite well. The car has been in his family since 1935 and has been stored in a controlled environment since 1965 to the best of his knowledge. Previous to that it was still being used on the road. Long story short I drove the car onto my trailer later that day and brought it home. I originally thought I'd be chopping and rat rodding this car. But after laying out the tape lines for a 4 1/2" chop and after having a few Budweiser's, I came to the conclusion that I just couldn't chop this car up! It is in far too good of condition. Everything is totally original down to the wood floor (that looks about 2 years old), the original leather seats, headliner, roof top, wheels, EVERYTHING. And everything is there and intact with the exception of the hood ornament. Try to find a car this old with the original spare tire and cover! It even has the original license plates from 1926. I really haven't touched the car since I brought it home 2 years ago and I am not the type of person to drive around in a classic. I want a rat rod, therefore the car is now going to be sold. Good luck and happy bidding. The winner will not be disappointed with this car at all! If you have any questions please feel free to ask. Thank you. Here is a couple paragraphs from the recent appraisal I had done for insurance purposes: 1926 CHRYSLER MODEL 50 The 1926 Model 50 for which Walter P. Chrysler offered to the motoring public for this model year was actually derived from the 1925 Maxwell. What had happened was Walter P. Chrysler took over the Maxwell Company in 1921 first as to restructure the Maxwell Company as a whole during the early 1920’s where Walter P. Chrysler became President of the overall operation and dropped the Mawell name. The car still featured the winged radiator cap, inline four cylinder, 2.8L engine with a three speed manual transmission. The cast iron block engine produced thirty-eight horsepower with the side valve design with a ball & ball carburetor. The Model 50 was produced as a more affordable automobile from the six cylinder line up which was going head to head with more luxurious models such as Cadillac. The wheel base of this rear wheel drive model 50 is 106 inches with a curb weight of 2410lbs. Interior seating was designed for the family class in mind of four to five people. This 1926 Model 50 has an interesting past being that it not only a Canadian car but also an original Alberta car. The car itself over the years has received some restoration such as the motor being rebuilt in approximately 1955 with new pistons and rings and some exterior paint work, but as a whole remains original. From historical photo graphs, much of the car’s interior fabric and body trim also seem original. Actually the car operates rather well and for the most part everything is in fine working order. Even the full gauge cluster on the dash although dated, all original. The exterior fit and finish of the body panels, glass components all around the car, the lighting system and the cooling system is all there. If anything, what is missing is the winged radiator cap which is common and very rare to see on a any car of this era. The wood spokes of each wheel rim are also in great condition. The tires of course have been updated although the spare does look original under the weather checked original tire cover. The car is stored in a controlled and secure environment. If you have any questions about the car please ask. Also, I do have this car for sale locally therefore I reserve the right to end this auction early if the car sells. Thank you. |
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Fiat and UAW back at negotiating table over Chrysler stake
Mon, 23 Dec 2013We knew there'd be no Chrysler IPO before the end of this year, but Fiat is determined to get the best run going into 2014 and is back at the poker table with the UAW. The delay was said to be Chrysler's desire to clean up a tax issue with the IRS; turns out that also bought the carmaker time to try and close a deal for the UAW's 48.5-percent stake in the company before the IPO happens.
Whereas the price Chrysler was willing to pay was once more than $1 billion under the UAW's asking price, the gap has closed to just $800 million of late. A recent valuation of the company at $10 billion - a valuation the UAW has disputed - means Fiat would be looking to pay about $4.2 billion instead of the $5 billion that the UAW seeks. But the UAW needs to hold out for the highest amount it can get because its pension obligations through the Voluntary Employee Benefit Association (VEBA) are $3.1 billion greater than the VEBA's assets, which include the Chrysler stake.
There's a clause in the agreement that Fiat can buy the VEBA shares for $6 billion, but Fiat CEO Sergio Marchionne has said that the UAW "should buy a ticket for the lottery" if they even want $5 billion. The UAW, though, has more time to wait; it's Fiat that wants access to Chrysler's $11.9-billion war chest and that would like to avoid the risk of paying the full $6 billion for the UAW share if the float really takes off. With other valuations of Chrysler as high as $19 billion, a hot IPO could make that $6 billion look like a bargain.
Chrysler stays IPO until 2014
Mon, 25 Nov 2013There will not be a Chrysler IPO in 2013. Fiat, according to a report from Forbes, has announced that it will not be able to make the American brand's initial public offering before the end of the year, saying that the short, five-week window that makes up the rest of 2013 is "not practicable."
Not surprisingly, the issue with the Chrysler IPO is the same as it's always been - a disagreement between parent company Fiat, which owns 58.5 percent of the Chrysler Group and a UAW healthcare trust, which owns 41.5 percent. Fiat wants to buy out the UAW VEBA healthcare trust, which is responsible for shouldering retiree healthcare costs, but the two sides are hung up on an actual price tag for the remaining two-fifths of the company.
The original idea saw an IPO as a way of setting a fair market price for the remaining shares, although it's not entirely clear what broke down and led to a delay of the IPO plan. As Forbes points out, by waiting until 2014, Chrysler could be risking a cool-off in the IPO market, which could mean less money in its pocket when the automaker finally goes public.
Ram helps power Chrysler to 11% gain in May
Mon, 03 Jun 2013Increasing consumer demand for Ram pickup trucks and big SUVs has helped to boost May sales for Chrysler. Ram sales were up a total of 24 percent year-over-year for the month of May. In addition, Dodge sales increased by 23 percent in May, with the standout Durango clocking a 24-percent year-over-year improvement (with an updated 2014 model in the wings, incentives are thick on the ground for 2013 inventory). Fiat and Jeep were up only a modest one percent, however, and Chrysler brand sales were down by two percent against last year's figures.
Chrysler is quite pleased overall with brand performance, saying that this May marks the company's strongest in the past six years. It was also the 38th consecutive month showing year-over-year sales gains.
Eight of the automaker's vehicles set sales records for May, as well: Jeep Wrangler and Compass, Dodge Avenger and Challenger, Fiat 500, Chrysler 200 and Ram pickups. Scroll down to read more detail in Chrysler's press release.