SEC Comment Letter for DAIMLERCHRYSLER AG (MBGAF, MBGYY) (CIK 0001067318) (MBGAF) — Oct 14, 2005
DAIMLERCHRYSLER AG (MBGAF, MBGYY) (CIK 0001067318)
Date: Oct. 14, 2005 · CIK: 0001067318 · Accession: 0000000000-05-052761
AI Filing Summary & Sentiment
Referenced dates: August 15, 2005, June 30, 2005
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549-5546
DIVISION OF
CORPORATION FINANCE
October 5, 2005
Via U.S. Mail
Jurgen E. Schrempp
Chairman
Epplestrasse 225,
70567
Stuttgart, Germany
RE: DaimlerChrysler AG
Form 20-F for the fiscal year-ended December 31, 2004
Response Letter Dated August 15, 2005
File No. 1-12356
Dear Mr. Schrempp:
We have reviewed the above filing and response letter and
have
the following comment. We have limited our review of your Form
20-F
to disclosures relating to your contacts with countries that have
been identified as state sponsors of terrorism, and will make no
further review of the Form 20-F. Our review with respect to this
issue does not preclude further review by the Assistant Director
group with respect to other issues. At this juncture, we are
asking
you to provide us with supplemental information, so that we may
better understand your disclosure. Please be as detailed as
necessary in your response. After reviewing this information, we
may
or may not raise additional comments.
Please understand that the purpose of our review process is
to
assist you in your compliance with the applicable disclosure
requirements and to enhance the overall disclosure in your
filings.
We look forward to working with you in these respects. We welcome
any questions you may have about our comment or on any other
aspect
of our review. Feel free to call us at the telephone number
listed
at the end of this letter.
General -
1. We note your August 15, 2005, response to our letter dated June
30, 2005. It is not clear from your response that, in addressing
the
materiality of your operations and sales in Iran, and whether they
pose a material investment risk to your security holders, you have
considered these matters in light of the potential impact on your
reputation and share value of the fact that you conduct business
in,
and have business ties to the government of, this country that is
identified by the U.S. government as a state sponsor of terrorism
and
subject to U.S. economic sanctions, notwithstanding that your
operations and sales there may have been conducted in compliance
with
applicable export laws of Europe and the United States. Please
discuss.
2. We note from your website and another publicly available source
that you conduct business or have operations in Syria. Describe
for
us the nature and extent of your operations in and contacts with
Syria. Advise us of any contacts or arrangements with the Syrian
government, or enterprises owned or controlled by the Syrian
government. In view of the fact that Syria has been identified by
the U.S. State Department as state sponsors of terrorism, and is
subject to economic sanctions administered by the U.S. Treasury
Department`s Office of Foreign Assets Control (OFAC), please
discuss
the materiality of your operations and contacts there, and give us
your view as to whether those operations and contacts constitute a
material investment risk for your security holders.
3. With respect to your operations in both Iran and Syria, please
advise us whether any of the products or services you provide in
or
to those countries can be put to military use and, if so, the
types
of military uses to which they can be put; and whether, to your
knowledge, such products or services have been put to military use
and, if so, the type of military uses to which they have been put.
4. In preparing your response, please consider that evaluations of
materiality should not be based solely on quantitative factors,
but
should include consideration of all factors that a reasonable
investor would deem important in making an investment decision,
including the potential impact of corporate activities upon a
company`s reputation and share value. In this regard, we note
that
Arizona and Louisiana have adopted legislation requiring
divestment
from, or reporting of interests in, companies that do business
with
U.S.-designated state sponsors of terrorism.
Closing Comments
Please respond to this comment within 10 business days or
tell
us when you will provide us with a response. Please file your
response letter on EDGAR.
We urge all persons who are responsible for the accuracy and
adequacy of the disclosure in the filings reviewed by the staff to
be
certain that they have provided all information investors require
for
an informed decision. Since the company and its management are in
possession of all facts relating to the company`s disclosure, they
are responsible for the accuracy and adequacy of the disclosures
they
have made. In connection with responding to our comment, please
provide, in writing, a statement from the company acknowledging
that:
the company is responsible for the adequacy and accuracy of the
disclosure in the filings;
staff comments or changes to disclosure in response to staff
comments
do not foreclose the Commission from taking any action with
respect
to the filings; and
the company may not assert staff comments as a defense in any
proceeding initiated by the Commission or any person under the
federal securities laws of the United States.
In addition, please be advised that the Division of Enforcement
has
access to all information you provide to the staff of the Division
of
Corporation Finance in our review of your filings or in response
to
our comments on your filings.
Please understand that we may have additional comments after
we
review your response to our comment. Please contact me at (202)
551-
3470 if you have any questions or comments about the comment or
our
review.
Sincerely,
Cecilia D. Blye, Chief
Office of Global Security
Risk
cc: Dr. Peter Waskonig
Vice President and General Counsel
Max Webb
Assistant Director
Division of Corporation Finance
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Jurgen E. Schrempp
DaimlerChrysler AG
October 5, 2005
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