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Cerberus to give up stake in ChryslerMarch 30th, 2009 by Bill Cawthon
The Wall Street Journal cites “persons familiar with the matter” as saying Cerberus Capital Management will give up its 80.1 percent stake in Chrysler LLC as part of the government-mandated restructuring of the troubled automaker.
Cerberus will retain its controlling interest in Chrysler Financial.
that some weak reporting... who are they giving it up to? diamler? fiat? the gub-ment?
If u pay BILLIONS for something, why would u "give it up"?
No other details were given. My guess Daimler keeps their 20%. Antichrist Obama asked Fiat to take a smaller stake, around 20%. I figure the government would take the other 60%
Congratulations! You will soon own 60% of Chrysler, Mr and Mrs US Taxpayer! Chrysler will then become, officially, a nationalized auto maker, just as GM has. The minute they accepted the gub'mint money, they had zero say-so in their outcomes. You now have Big Gub'mint in the car business. Get what you want in a new car or truck while you can. Soon, you will have a "choice" of maybe three micro-cars in three colors, just like East Germany before the Fall of the Wall.
All Hail the Messiah!
The feds forced Cerberus to turn over their ownership in return for the loans.
They may get to keep some of Chrysler Financial, but they lost about 40% of their 51% of GMAC.
Creeping slowly, stealthily, Socialism on little cat's feet stalks the throne of power until it finally bundles itself up and leaps, to deftly pounce on the quivering Capitalism and sink its fangs deep into the throat's pulsing arteries.
No cry is heard but for a desperate and muffled gurgling from the throat, and the death goes undiscovered until the following morning, when the new king, choking back his elation, sadly announces the unfortunate demise of all we've held dear.
Following the slow & calculated gutting of America's industry, the financial intrigues have left us at the mercy of carpetbaggers and loathsome foreign influences, spelled China, who come to plunder the corpse of the once greatest nation in the history of the earth.
We see at every turn that the exact opposite of what's required is the rule of the day from our trusted leaders, of all political persuasions in power, as they prepare the way for the new order of business, and to take their share of the spoils of the victim's wealth & power.
Brothers, guard yourselves, and build your own defenses against the possibility of a soon coming day of bewildering chaos. It may not happen, but I see nothing in this world able to prevent it under the current acceleration of devised circumstances calculated to destroy.
Good graphics Jimmie.
It is also sad that they don`t team with their family, like Canada, Britain, Australia,,, No spend countless hours in trade negotiations. threats etc with your best friends instead of uniting especially north america,, United we stand devided is where our trusted leaders are putting us,,, I guess we will all fall,,,, it is written,,, but when is the scarey part In the meantime, keep bothering your representative & enjoy your trucks & life one day at a time. I believe there is still hope & see this as a wake up.