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NEWS ABOUT: Cerberus Capital Management

Cerberus Capital Management stories: 26 news summaries

1 - 20 of 26 Stories | 1 2 Next >>

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Investors Ditch Once Lofty Cerberus Fund

Failed investments in Chrysler, GMAC have clients pulling $5.5B

Aug 29, 09 3:48 PM CDT
(Newser) - Hedge-fund investors are leaving once-vaunted investment firm Cerberus Capital Management in droves, the Wall Street Journal reports. The firm, whose acquisitions of Chrysler and GMAC turned disastrous, is seeing $5.5 billion in capital—or 71% of its hedge fund assets—walk out the door. "We have been... More »

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Chrysler • Cerberus Capital Management • investors • recession • hedge fund • Stephen Feinberg • liquidity • GMAC • economic downturn

 UAW to Own 55% of Chrysler 


Apr 28, 09 8:07 AM CDT
(Newser) - The United Auto Workers are about to own Chrysler. In exchange for a variety of concessions, the union will eventually get a 55% majority share in the automaker, according to a summary of the restructuring deal, which was sent to union leaders late last night and reviewed by the More »

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Chrysler • United Auto Workers • Cerberus Capital Management • Daimler • auto industry • Fiat

 GMAC Grabs 
 $6B Federal Lifeline 

Government uses bailout funds used to buy stake in auto finance giant

Dec 30, 08 3:41 AM CST
(Newser) - The federal government is dishing out a $6 billion bailout to keep auto financing giant GMAC afloat, the New York Times reports. The Treasury Department will spend $5 billion to buy a stake in the former General Motors subsidiary, and will loan GM a further billion so the company can... More »

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Chrysler • Cerberus Capital Management • General Motors • Treasury Department • auto industry • bailout • GMAC • financial crisis • TARP

 GM Finance 
 Arm Converts, 
 Will Tap Bailout 

Fed approves GMAC's request to become bank-holding company

Dec 24, 08 4:43 PM CST
(Newser) - The Federal Reserve today approved a request by General Motors’ financial arm to become a bank-holding company so it can petition for money from the $700 billion bailout pot, the Wall Street Journal reports. GMAC would also have access to direct Fed loans, helping loosen credit and complement the $17.... More »

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Chrysler • Cerberus Capital Management • Federal Reserve • General Motors • bank • auto industry • GMAC • financial crisis • Wall Street bailout • auto bailout

 GM, Chrysler 
 Revive  Merger Talks 

Chrysler's private equity owner signals willingness to give up a stake

Dec 18, 08 1:46 AM CST
(Newser) - General Motors and Chrysler are back in merger talks, reports the Wall Street Journal. Negotiations fizzled weeks ago as both companies viewed a merger as impractical and a potential distraction from federal bailout talks. Chrysler owner Cerberus Capital Management took the initiative to restart talks, and has signaled a willingness... More »

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Chrysler • Cerberus Capital Management • General Motors • merger • auto industry • US automakers • GMAC

Analysis

Sound the Chrysler Death Knell: Analysts

Unprofitable lines are likely to kill automaker despite bailout

Dec 11, 08 8:33 AM CST
(Newser) - Chrysler’s lack of profitable vehicle lines will lead to its demise, reports the Detroit Free Press, regardless of whether the feds jump in with a bailout. With bad market conditions predicted to worsen next year, the struggling automaker will downshift its production on some lines and eliminate others, prompting... More »

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Chrysler • Cerberus Capital Management • auto industry • Big Three • bailout • financial crisis

 GM-Chrysler Inch Closer to Deal 

Merger would create world's largest automaker

Oct 29, 08 1:57 PM CDT
(Newser) - General Motors and Chrysler have ironed out the major issues in their proposed merger, bringing the troubled giants a step closer to becoming the world's largest automaker. The deal's final form will depend on financing and government support—of which GM is requesting $10 billion—but both companies agree GM... More »

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Chrysler • Cerberus Capital Management • government spending • General Motors • merger • Rick Wagoner • US automakers • refinancing

Chrysler Flirts With Nissan- Renault as GM Seeks Credit

Alliance would keep Detroit automaker intact, but expose Cerberus to more risk

Oct 21, 08 10:21 AM CDT
(Newser) - Chrysler is considering joining Nissan-Renault, adding a North American arm to the Japanese-French auto alliance that could rescue Chrysler’s operations, the Wall Street Journal reports. Cerberus, Chrysler’s majority owner, prefers a merger with General Motors, but overlap with a Detroit competitor would likely eliminate half of Chrysler’s... More »

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Chrysler • Cerberus Capital Management • General Motors • Detroit • mergers and acquisitions • credit crisis • auto industry • financial crisis • Nissan-Renault • Carlos Ghosn

Ford Put Brakes on GM Merger Talks

Company vows to survive, may sell
Mazda stake for cash

Oct 11, 08 5:34 PM CDT
(Newser) - Ford rejected merger overtures from GM earlier this year and decided to ride out its financial issues alone, the Wall Street Journal reports. The GM-Ford talks were “very loose and preliminary, more exploratory in nature than anything else,” a source said. Both companies have denied bankruptcy rumors, but... More »

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Chrysler • Cerberus Capital Management • bankruptcy • General Motors • Detroit • Ford • Alan Mulally • auto sales

Wall Street May Scoop Up Troubled Pension Plans

Businesses stand to benefit, but opponents worry about big guns' motives

Aug 6, 08 11:05 AM CDT
(Newser) - Though still smarting from the subprime debacle, some of the Wall Street’s biggest players are lobbying the government to be allowed to buy up and manage some of the $2.3 trillion in US corporate pension funds, BusinessWeek reports. Many businesses, eager to get the plans off their books,... More »

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investing • Cerberus Capital Management • Citigroup • subprime crisis • pension funds • JPMorgan Chase • financial crisis

March Auto Sales
Hit the Skids 

GM, Chrysler Down 19%, Toyota, Ford Dip 10%

Apr 2, 08 4:00 AM CDT
(Newser) - US auto sales plummeted last month, with GM and Chrysler's March sales diving 19%, and Ford and Toyota's down 10%, the Wall Street Journal reports. Rising gas prices, the credit crisis and fear of the future are blamed for the troubling trend. Detroit is bracing for even more bad news... More »

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Chrysler • Cerberus Capital Management • Toyota • General Motors • Honda • Ford • gas prices • auto sales • Shoichiro Toyoda • J.D. Power & Associates

Soured Deals Dog Brash Cerberus

Chrysler, GMAC struggles point to problems for private equity giant

Feb 25, 08 1:15 PM CST
(Newser) - The continued struggles of Chrysler and GMAC—two of Cerberus Capital Management’s largest and most recognized purchases—have observers wondering if the private equity darling has lost its Midas touch, reports Reuters. S&P has downgraded GMAC’s credit rating, Chrysler's January sales slipped 12% even as the company... More »

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private equity • Chrysler • Cerberus Capital Management • General Motors • Stephen Feinberg • GMAC • AerCap Holdings • Teleglobe International

Chrysler to Cut 30% of Models

Will also slash network of dealers

Feb 8, 08 3:27 AM CST
(Newser) - Chrysler plans to cull its Chrysler, Jeep and Dodge brands by at least a third, and drastically reduce the network of 3,600 dealers selling its vehicles to reduce costs, reports the Wall Street Journal. Chrysler dropped three models last year, leaving it with about 30 product lines. The company... More »

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Chrysler • Cerberus Capital Management • model • Robert Nardelli • Jim Press • dealers

Chrysler Faces Cash Crunch

Struggling automaker looks to sell assets to raise cash in a hurry

Dec 21, 07 10:09 AM CST
(Newser) - With an auto industry novice as CEO, a product line trailing the rest of the industry, and an inadequate cost-cutting strategy, Chrysler is scrambling to sell assets to climb out of a deep financial hole. Four months after Cerberus Capital Management took the automaker private, the Wall Street Journal finds... More »

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Chrysler • Cerberus Capital Management • Stephen Feinberg • Robert Nardelli • auto industry

Chrysler CEO Predicts
$1.6B Loss This Year

Automaker faces second straight year in the red

Dec 5, 07 10:01 PM CST
(Newser) - Chrysler will be screeching toward a second consecutive year in the red, sources told the Wall Street Journal, as the automaker will lose $1.6 billion. CEO Robert Nardelli told designers and engineers this week that while the beleaguered automaker’s revenue was about $63 billion, costs exceeded $64 billion.... More »

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Chrysler • Cerberus Capital Management • General Motors • fuel efficiency • Ford • Robert Nardelli • auto industry

Chrysler Plan Cuts Dealers, Overlapping Models

To return to profitability, car maker may restructure its vehicle and dealer lineup

Nov 17, 07 2:09 PM CST
(Newser) - Clued-in dealers say Chrysler is considering a restructuring plan to simplify its lineup: Chrysler dealers would sell all the company’s passenger cars, Jeep dealers would carry only Jeeps and SUVs, and Dodge dealers would handle commercial trucks and pickups. The reorganization would allow Chrysler to eliminate overlapping models and... More »

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Chrysler • Cerberus Capital Management • automaker • Dodge • auto industry • car dealers • cars

Struggle to Ratify Chrysler Deal

Some local UAW leaders unhappy with new contract

Oct 16, 07 3:05 AM CDT
(Newser) - The proposed contract between Chrysler and the United Auto Workers has caused some division within the union and may not be ratified as quickly  as the deal with General  Motors, reports the Detroit Free Press. The council of local leaders who voted to approve it yesterday in Detroit were not... More »

MORE ABOUT:
Chrysler • United Auto Workers • Cerberus Capital Management • General Motors • Detroit • Ron Gettelfinger • General Holiefield • Thomas Littlejohn

Where is Stephen Feinberg Taking Chrysler?

Onlookers worry
what Steven Feinberg
is up to with Chrysler

Aug 15, 07 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. More »

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media • Chrysler • Cerberus Capital Management • Stephen Feinberg • auto industry

In Nardelli, Chrysler Found Its Maverick

Cerberus relying on tough-talking new
CEO to cut costs

Aug 7, 07 4:30 AM CDT
(Newser) - Former Home Depot chief Bob Nardelli has a reputation for being a brusque, hard-edged maverick, and that’s exactly what his new bosses at Chrysler want, Reuters reports. Cerberus Capital Management hopes to stem losses at the automaker by cutting costs, particularly in the delicate area of unionized workers. Nardelli’... More »

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Chrysler • United Auto Workers • Cerberus Capital Management • Toyota • General Motors • unions • General Electric • Ford • Stephen Feinberg • Home Depot • Robert Nardelli • Tom LaSorda • auto industry

Ex Home Depot Chief Takes Chrysler Wheel

Nardelli tapped as CEO in takeover shake-up

Aug 6, 07 9:03 AM CDT
(Newser) - In a major shake up, Chrysler 's chief executive will be replaced by former Home Depot boss Bob Nardelli, the Wall Street Journal reports. An auto official called Nardelli a "real change agent" in an industry rocked by foreign competition. Nardelli is the second auto-industry neophyte to be named... More »

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Chrysler • Cerberus Capital Management • Robert Nardelli • Tom LaSorda • Eric Ridenour • auto industry

1 - 20 of 26 Stories | 1 2 Next >>


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