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Chrysler
Latest Headlines
Latest Headlines
Goldman Sachs treated too well by regulators in AIG mess?
When hearings loom, press leaks are common. And that has kept the Goldman Sachs-AIG controversy in the headlines. Following a review of reams of documents, the New York Times suggests that bank regulators viewed the issues through the eyes of bankers.
To some, it looked like they were acti
Profitable bank bailouts
There's been a whole lot of public anger about the bailouts of big Wall Street firms. But whether it was wise or not to bail out the top banks, at least it did not cost taxpayers an arm and a leg. In fact, it looks now like taxpayers got a pretty decent return on their "investment" in banks.
Pay czar cuts pay at seven firms
Kenneth Feinberg, the Treasury's special master on compensation, has apparently wrapped up his review of the pay of the top executives at seven firms that received massive bailout packages from the government. He will likely release his findings and recommendations ahead of the October 30 deadline
Cerberus aims to raise more funds
Cerberus has struggled mightily with its ill-fated investments in Chrysler and GMAC. As investors rushed to the exits (or tried to), Stephen Feinberg has certainly taken some PR lumps. But the news has not been all bad. Despite these miscues, funds of funds are still lining up to invest with the f
Big damage to Cerberus' reputation?
Cerberus' attempt to fix Chrysler has been a notorious failure. That's hardly a secret. What is new is Cerberus' chief's defense of his record. Stephen Feinberg tells the New York Times that he's now sure what he could have done differently. A statement that stands in marked contrast to the to
Cerberus faces its future
Is this the beginning of the end for Cerberus? It's hardly a surprise that limited partners are gravely concerned. The list of blown-up portfolio investments does not stop with Chrysler and GMAC. They are merely the best know fiascos. Other troubled companies include Mervyns department stores, Wes
Who to blame in Chrysler mess?
The Chrysler mess this week was complicated by a rift between big bulge bracket banks--Goldman Sachs, Citigroup, JPMorgan Chase--and smaller funds, who felt they were denied a place at the negotiating table. The group of smaller firms didn't agree to the deal the big four struck. That was a key fa
Dubious private equity achievements of 2008
TheDeal.com has some fun with several notable private equity deals from 2008. The Tin Cup Award goes to Cerberus Capital Management: While the CEO of Chrysler sought a bailout, GMAC tried to turn itself into a bank to get TARP funds. The "E" for Effort Award goes to Apollo-controlled Hexion Sp
Can Cerberus still save Chrysler and GMAC Financing?
Cerberus Capital, run by Stephen Feinberg, is staring at the abyss right now regarding Chrysler and GMAC Financing. The New York Times characterizes the fund as "racing to salvage" its investments in the face of a severe downturn in the auto and home-lending industries. Until recently, the sto
Stephen Feinberg: No longer a PE recluse
Private equity  mogul Stephen Feinberg's firm Cerberus Capital owns some iconic American brands, notably Chrysler and GMAC. He prefers to work in the background, as if that were possible. The New York Times  notes that he has worked on Wall Street for 20 years and never allowed a media in
