Chrysler balks at Uberlease.Might sublet sub·let tr.v. sub·let, sub·let·ting, sub·lets 1. To rent (property one holds by lease) to another. 2. To subcontract (work). n. 5 floors of namesake tower In the interests of cost-cutting, Daimler Chrysler has retreated from its commitment to lease five-floors of prime Chrysler Building Chrysler Building, in midtown Manhattan, New York City, at Lexington Ave. between 42d and 43d St. The ultimate art deco-style skyscraper, it was commissioned by Walter P. Chrysler, designed by William Van Alen, and built in 1926–30. office space. The news comes after Daimler Chrysler's announcement that they will cut 26,000 jobs -- 20 percent of their North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. work force. But they are apparently left with five floors of prime, Chrysler Building space ideal for subleasing. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. one informed source who asked that his name not be printed, Daimler Chrysler -- which has not "backed out of its lease" -- will indeed explore subleasing potentials for this trophy space. Recently, the Chrysler division reported a third-quarter loss of $512 million while their fourth-quarter loss could exceed $1 billion. Both a slower U.S. economy and heavier light-truck competition are being blamed for the company's problems. "We will no longer pursue this space in the Chrysler Building due to cost-cutting," said a Daimler Chrysler spokesman. She would not comment on whether or not the company will end up subleasing the space. Critics initially identified Daimler Chrysler's eponymous e·pon·y·mous adj. Of, relating to, or constituting an eponym. [From Greek ep  numos; see eponym. choice of location as a public relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most debacle intended to symbolize the German/American firm's commitment to it's US roots. That space -- five floors near the top of the 77-story building -- also includes the Cloud Club The Cloud Club occupied the 66th, 67th and 68th floors of the Chrysler Building in New York City. It opened in July 1930 with a membership of 300, including Edward F. Hutton, Condé Nast and the boxer Gene Tunney. , the wood-paneled enclave that has, for the last 20 years, been empty. It was once Walter P. Chrysler's private dining room. According to a published report, construction crews have been working on the Cloud Club over the past few months, sprucing it up for Daimler Chrysler. "Chrysler paid a very big price for this space," said Peter Pattison, a Manhattan-based real estate consultant. "Some may think that this is an ego-trip. Even the management has been criticized," said Pattison. When it was announced last summer that the company would lease space here, the new location was promoted as a future, de facto [Latin, In fact.] In fact, in deed, actually. This phrase is used to characterize an officer, a government, a past action, or a state of affairs that must be accepted for all practical purposes, but is illegal or illegitimate. policy making headquarters. At the time, Daimler Chrylser was struggling to earn respect from Wall Street while fighting charges that the Chrysler unit was nothing more than an outpost, for the firm. Two years ago, Daimler Chrysler spent approximately $5 million to upgrade the treasury offices of Daimler-Benz AG into a Manhattan-based headquarters for the company's board. Because of the treasury office, policy decisions and the like are already made here in Manhattan. |
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