Tag:
Stephen Feinberg
Latest Headlines
Latest Headlines
The pain of finding a successor for Ken Lewis
The pickings appear to be slim in the hunt for a worthy successor to Ken Lewis as CEO of Bank of America ( BAC ). The board would have to be very circumspect about elevating an internal candidate. The top candidates are encumbered by the baggage of internecine conflict: The Fleet crowd versus th
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
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
Fortune Power 25 short on bank execs
The most powerful business people on the planet. You might think that the financial world would be well represented. Perhaps two years ago, they would have been more plentiful on the list. But only four financial services executives made the list. Goldman Sachs ' CEO Lloyd Blankfein was the hi
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
