History of Chrysler stake in the firm. Financial performance improved and Chrysler was generating a significant part of Daimler-Chrysler's profits from 2004 to 2005, as the other subsidiary, Mercedes-Benz, incurred costs for restructuring. By 2005, Chrysler was said to be the healthiest of the Detroit Three automakers (compared to General Motors and Ford Motor Company). As a result of Zetsche's apparent success in a turnaround of Chrysler, Juergen Schrempp, the CEO of parent company Daimler-Chrysler, was pressured to retire early. Zetsche was elevated to CEO of Daimler-Chrysler on January 1, 2006, and Thomas W. LaSorda became President and CEO of Chrysler Group. However,
Chrysler Building technological changes. Consumer goods such as radio, cinema, and the automobile—whose use grew exponentially in the 1920s—became widespread. In 1927, Walter Chrysler's automotive company, the Chrysler Corporation, became the third-largest car manufacturer in the United States, behind Ford and General Motors. The following year he was named "Time" magazine's "Person of the Year". The economic boom of the 1920s and speculation in the real estate market fostered a wave of new skyscraper projects in New York City. The Chrysler Building was built as part of an ongoing building boom that resulted in the city having the world's tallest building from