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TRANSPORTATION
DaimlerChrysler merger on trial
CEO Juergen Schrempp committed fraud by calling the Daimler-Benz and Chrysler union in 1998 a merger of equals, argued lawyers for billionaire Kirk Kerkorian in opening arguments of his trial to win $1 bil in damages due to stock losses. DaimlerChrysler's attorney rejected the claims and said Kerkorian was fully aware Daimler would run the merged companies. DaimlerChrysler has lost two-thirds of its market value since the deal.
Thor Industries profit rose 137%
The RV and bus maker earned 83 cents a share in Q1, falling 9% below views. Thor cited increased warranty costs, discounts and plant reorganization costs. Sales rose 21% to $490.4 mil. RV sales climbed 23% to $433 mil. Bus sales grew 6% to $57.4 mil. Thor shares fell 3%.
TECHNOLOGY
Google rejects illicit pharmacies