"Cerberus" in Greek myth was the 3 headed dog that guarded the gates of Hades...and was 'lifted' by JK Rowling as 'Fluffy' in Harry Potter.
They are a natural to buy the finance arm of Chrysler
as they already have bought GMAC
and are so rich that they can borrow money at lower interest rates
than even DCx or GM.
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RE: "3 Headed Dog from Hades" now top Chrysler bidder
The Monday Wall Street Journal (5-14-2007)
has a long and thought provoking article on the buy of Chrysler
Key Points:
1.Wolfgang Bernard of Cerberus
is apparently getting along well with former associates
Tom LaSorda and Dieter Zetsche
2. There will still be intense negotiations with the UAW and CAW
when the contract for all three (GM, Ford and Chrysler) comes up later.
3. The 'holding company' that is being set up to own Chrysler
seems suspiciously like a legal way to declare bankruptcy later,
as a 'firewall' if things go wrong,
without causing either Cerberus or Daimler to lose too much money.
4. Tens of thousands of Chrysler jobs
in high labor cost USA and Canada plants
will be transfered overseas to cheap labor rate countries
....judging by past Cerberus actions...maybe 40,000
Not much of a Mother's Day present
to those Chrysler employees who are mothers.
Bought for $38 billion nine years ago
now being 80% sold for an uncertain $ 7.4 billion or there-abouts.
RE: "3 Headed Dog from Hades" now top Chrysler bidder
Land for sale (CHEAP)! all over Metro Detroit, we should be seeing the signs soon..........................
Hang-on for the ride, and try your best not to get flug off..................
"3 Headed Dog from Hades" now top Chrysler bidder
