Cerberus

Former Chrysler CEO Bob Nardelli has performed a curt about face on his comments about the Obama Administration's handling of the auto bailout. The Detroit News reports that Nardelli said that he believes the administration made the correct decision for Chrysler in an email to the publication. ...

The Detroit News reports that former Chrysler CEO Bob Nardelli believes that the Obama Administration didn't need to hand the automaker to Fiat in order for the company to continue on. Instead, Nardelli says that a private equity firm could have easily taken the reins and steered the company back ...

Toronto Dominion Bank has officially agreed to acquire Chrysler Financial. Cerberus Capital Management, the current owner of the Pentastar's lending arm, will receive $6.3 billion from TD Bank in the deal. That figure marks a $900 million loss compared to the $7.4 billion that Cerberus paid for ...

According to Bloomberg, Chrysler Financial may have a new owner in the near future. Canada's Toronto-Dominion Bank may be set to make a deal with Cerberus Capital Management, which still owns the Pentastar's loan arm despite stepping away from its role as owners of Chrysler's carmaking operations. ...

More than 450 executives from Chrysler's white collar force, going all the way back to Lee Iacocca, have sued Daimler and Cerberus for gutting the value of their collective supplemental pensions to the tune of $100 million. The class action suit took the noted step of not suing Fiat-owned Chrysler, ...

We haven't heard much from Bob Nardelli since he and his Cerberus buddies rode off into the sunset last year in the wake of the Chrysler bankruptcy. Having proved pretty conclusively that he and his team were incapable of running a large automotive enterprise, Nardelli has apparently managed to ...

Cerberus submitted its plans for Chrysler Financial to the U.S. Treasury, and then in an announcement that came as a surprise to Cerberus itself, the Treasury said that Chrysler Financial would be shutting down by December 31, 2011. The lending arm paid back its $1.5 billion loan from the ...

According to The Wall Street Journal Jim Press, the Chrysler Group LLC Deputy Chief Executive and sole surviving member of pre-bailout/bankruptcy Chrysler will be resigning his post by the end of November. The WSJ quotes three anonymous people close to the plan. When reached for comment, Press only ...

Now that the crime is over, the verdict issued and the sentencing issued, we can look forward to a few months years of the CSI treatment applied to what really happened at Chrysler. The first exhibit is a New York Times piece with Cerberus co-founder Stephen Feinberg, coming off almost as The Man ...

Nerves are frazzled in Stuttgart over the troubles facing Chrysler. Let's not forget that Daimler still has a skin in the Chrysler game, and while everyone natters and frets about whether or not Fiat will prove to be the Savior Of Auburn Hills, execs are also thinking about the worst-case scenario ...