Where is Stephen Feinberg Taking Chrysler?

Onlookers worry what Steven Feinberg is up to with Chrysler

By Jonas Oransky,  Newser Staff

Posted Aug 15, 2007 1:38 PM CDT

(Newser) Portfolio does its best to profile Stephen Feinberg—the ultra-secretive, ultra-cutthroat CEO of Cerberus Capital Management—without talking to him. Feinberg avoids the media like the plague, preferring to bring faltering companies into the black in secret, and his shadowy plans for new stepchild Chrysler are no exception.

“If anyone at Cerberus has his picture in the paper," Feinberg told investors, "we will do more than fire that person. We will kill him.” But he commands such a mystique that execs take salary cuts to work for him. Chrysler employees, meanwhile, are biting their nails over what the ruthless manager (and former Army sharpshooter) has in store for the auto giant, as are Wall Street and the political establishment—big job cuts in the auto industry could shake things up in battleground states before 2008.

View taken 15 May 2007 of the New York headquarters of Cerberus...   (Getty Images)
Blocked Out   ((c) Timothy Lloyd)
Sign installer Brian Bartkowiak removes the DaimlerChrysler sign from in front of their headquarters and replaced it with a Chrysler sign on Saturday, Aug. 4, 2007 in Auburn Hills, Mich. DaimlerChrysler...   (Associated Press)
A Chrysler emblem adorns the front grill of a PT Cruiser at a Larry H. Miller dealership Saturday, Feb. 11, 2006, in Sandy, Utah. Private equity firm Cerberus Capital Management took control of Chrysler...   (Associated Press)
Perlman)   (Associated Press)
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