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Cerberus Denies Selling Chrysler, GMAC stake

Cerberus Capital Management denied news stories today that it sold any of its equity stake in either Chrysler or GMAC Financial Services. But other than denying it, the privately held Cerberus was masterfully vague about what exactly may have led to a Financial Times story that said Cerberus...

Tags: Cerberus Capital Management, Chrysler LLC, Cerberus, Investment, Financial Services, Finance, Jim Henry

Blog posts 2008-06-03

Does the Transition at Chrysler Signal Big Changes for the Big 3?

Does the Transition at Chrysler Signal Big Changes for the Big 3?Chrysler Cerberus – Can the Outsider turn the corner fast enough?Below is a portion of a post from http://qualityg.blogspot.com/:Being from Michigan I always chuckle when I see the same quotes and sayings when a new CEO takes charge, especially...

Tags: Process improvement, Chrysler LLC, Cerberus

Discussion threads 2007-08-09

Additional Resources

ICx Deploys First Working Mobile Surveillance Towers for Border Protection on the Southern Border under a $4 Million Contract

Contract Will Employ six ICx' fully integrated mobile Cerberus Units with Sensor, Camera and Radar Slew-to-Cue Technologies WASHINGTON -- ICx Technologies (NASDAQ:ICXT), a developer of advanced sensor solutions for homeland security, force protection and commercial applications, announced today that it received a $4 million order and has begun...

Articles 2008-07-08

Chrysler Closing St. Louis Plant, Denies Bankruptcy Rumors, an Industrial Info News Alert

Researched by Industrial Info Resources(Sugar Land, Texas) -- Chrysler will close its St. Louis South plant, whichcurrently assembles minivans, on October 31, 2008. The St. Louis Northplant, which assembles pickup trucks, will not come away unscathed and willcut a shift from September 2, 2008, leaving only a single shift inoperation....

Articles 2008-07-02

ICx Wins $14 Million Cerberus Mobile Surveillance Towers Contract for U.S. Army

Contract is Part of the Asymmetric Warfare Office's BETSS-Program WASHINGTON -- ICx Technologies (NASDAQ:ICXT), a developer of advanced sensor technologies for homeland security, force protection and commercial applications, announced today that it has been awarded a $14 million contract as part of the U.S Army's multi-billion dollar Base...

Articles 2008-07-01

Carnage for car makers as panicking investors send US shares into

By Stephen Foleyin New York Panicking investors are dumping shares in America's biggest car manufacturers, amid suggestions that collapsing sales could push them to the brink of bankruptcy. General Motors, the world's biggest car maker and producer of American icons such as the Chevrolet,...

Articles 2008-06-27

Cerberus Statement

NEW YORK, June 2 /PRNewswire/ -- Cerberus has not reduced or made any changes to its equity stakes in GMAC or Chrysler since the closing of either transaction. Cerberus continues to have voting control over both investments. It is common knowledge, and has been widely reported, that Cerberus...

Articles 2008-06-02

WBusiness Books: What $36 Billion Teaches Us About Marketing

LOS ANGELES, May 6 /PRNewswire/ -- Ten years ago tomorrow on May 7, 1998, Mercedes-Benz bought Chrysler for $36 billion (U.S.) and formed DaimlerChrysler in the largest industrial merger in history. The national average for gasoline was $1.20 a gallon. A decade later, the national average...

Articles 2008-05-06

Daimler cuts Chrysler value, again.(News)(Cerberus Capital Management L.P.)(Chrysler L.L.C.)(Daimler AG)(Brief article)

Byline: Bradford Wernle Daimler AG still owns 19.9 percent of Chrysler LLC, but the German carmaker has slashed the book value of its stake by nearly two-thirds to reflect ongoing losses at its former U.S. unit. Last August, when Daimler...

Articles 2008-05-05

Names & Faces

GMAC Taps De Molina as CEO GMAC LLC, the auto and home lender formerly owned by General Motors Corp., named Alvaro De Molina chief executive officer to replace Eric Feldstein. Feldstein, who had led GMAC since 2002, will join Cerberus Capital Management LP, the private equity group that...

Articles 2008-05-01

Don't be surprised to see Ghosn in N.Y.(Column)(Carlos Ghosn)(Column)

Byline: KEITH CRAIN I can only imagine the folks at Cerberus looking at one another and wondering how they ever got involved in the automobile business. What appeared to be a simple, straightforward means of making a quick few billion...

Articles 2008-04-28

Albertsons moves ahead with strongest performers

While some time has passed since the 2006 acquisition of more than 600 Albertsons stores by hedge fund Cerberus Capital Management L.P., the dust continued to settle on the deal in 2007. The past year or so has been riddled with a string of divestitures and store closures...

Articles 2008-04-21

Stephen Feinberg speaks! (But doesn't say much).(Final assembly)(Cerberus Capital Management L.P.)(Interview)(Brief article)

Stephen Feinberg is no Howard Hughes after all. The reclusive chairman of Cerberus Capital Management, who generally refuses interviews and won't allow his picture to be taken, seems to have realized that the silent treatment may not be the best option when you own two of...

Articles 2008-04-21

Chrysler plans hybrid Dodge Ram.(News)(Brief article)

Byline: Ryan Beene Chrysler LLC plans to release a gasoline-electric hybrid Dodge Ram pickup in 2010. Frank Klegon, Chrysler's executive vice president of product development, told the 2008 SAE World Congress here last week that the hybrid version of...

Articles 2008-04-21

Picking up the pieces: in the wake of a broken deal, how do companies move on?

WHEN UNITED Rentals Inc. agreed to be acquired by Cerberus Capital Management last summer, the deal seemed secure and members of the management team were happily calculating their share of the $6.2 billion windfall. [ILLUSTRATIONS OMITTED] Those calculations were premature. In November, four months into the...

Articles 2008-04-01

Chrysler: Any deal for partner would be done by Cerberus.(News)(Brief article)

Byline: Bradford Wernle If Chrysler LLC gets a global partner, as many experts suggest the company should, the job of handling those talks would be up to Cerberus Capital Management. Chrysler CEO Bob Nardelli said he and his colleagues in...

Articles 2008-03-31

Molina gets the top job at GMAC.(People)(General Motors Acceptance Corp. appoints Alvaro de Molina)(Financial report)(Brief article)

Byline: Ryan Beene GMAC Financial Services has installed a new CEO as it struggles with losses stemming from the hard-hit residential mortgage market. Alvaro de Molina, former CFO of Bank of America, was named GMAC's CEO, effective April 1. He...

Articles 2008-03-24

Chrysler's exec trio: Reports of friction mostly fiction.(News)(Brief article)

Byline: Bradford Wernle Reports of executive-suite incompatibility be damned; Chrysler LLC's brain trust is getting along just fine, thank you. At least that's the message CEO Bob Nardelli and co-presidents Tom LaSorda and Jim Press were at pains to deliver...

Articles 2008-03-24

Fila Announces Sale of EMEA Subsidiaries and Master License Agreement for EMEA Region

NEW YORK -- Fila announced today that it has completed the sale of the subsidiaries comprising Fila's European, Middle East, African and Indian businesses to the European based management team and has entered into a long-term license for the Fila brand in the EMEA region. The management team, led by...

Articles 2008-03-10

Fresh ideas are fine, but Chrysler must be wary.(Chrysler L.L.C.'s Bob Nardelli )(appointment of Peter Arnell)(Viewpoint essay)

When Cerberus Capital Management LP took over Chrysler last summer, the new private owners touted their ability to move quickly and nimbly as one of their major advantages over their publicly owned competition. The mantra of Chrysler LLC CEO Bob Nardelli is: "A quick...

Articles 2008-03-10