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    Report: Ex-Chrysler CEO Nardelli exits Cerberus

    When Cerberus Capital Management owned Chrysler, it put former CEO Bob Nardelli in charge of The Pentastar. When Nardelli left, shortly after Chrysler came out of bankruptcy, he stepped across the corporate drawbridge and into a role at Cerberus, heading its Operations and Advisory Company. Now, ...

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    Report: Former Chrysler CEO Nardelli backpedals on bailout comments

    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. ...

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    Report: Nardelli "laments all the time" that Cerberus lost Chrysler

    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 ...

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    Report: Chrysler Financial purchased by TD Bank for $6.3B

    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 ...

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    Report: Toronto-Dominion Bank may buy Chrysler Financial from Cerberus by week's end

    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. ...

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    Former Chrysler execs file class-action suit over pension losses

    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, ...

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    Ex-Chrysler head Bob Nardelli to chair Dunder Mifflin Ohio paper company

    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 ...

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    REPORT: Chrysler Financial to wind down by 2011, executive pay, well, not so much

    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 ...

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    REPORT: Jim Press leaving Chrysler by year's end

    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 ...

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    The tale that wagged the dog: Cerberus' Stephen Feinberg speaks

    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 ...

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    REPORT: If Chrysler goes down, it could cost Daimler $1 billion

    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 ...

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    Cerberus to reportedly lose stake in Chrysler as part of bailout deal

    According to The Wall Street Journal, Cerberus Capital Management is set to shed its stake in Chrysler as part of the conditions surrounding the company's bailout arrangement with the U.S. government.According to the article, the financial paper cites an anonymous source within the Obama ...

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    GMAC CEO earned $11.6 million last year

    The recent string of government bailouts has placed a 50,000-watt spotlight on executive pay. Executives from Detroit automakers have already cut their pay to show the public and their own workforces that they're sacrificing for the greater good. There hasn't been much focus, however, on finance ...

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    Cerberus may cut 10% of its workforce

    That Chrysler continues to struggle isn't exactly news. As a whole, the auto industry is tanking and cars just aren't moving off dealer lots. Chrysler initially responded by offering buyouts to its entire workforce, and 25% off all its salaried workers took the company up on the offer. Earlier this ...

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    Who's the Boss? Daimler still wants to offload remaining stake in Chrysler

    For over a decade, ownership of Chrysler has been bouncing back and forth over the Atlantic like an Airbus jet. Since its founding in 1925, it was independently owned and operated right out of Detroit, then Daimler bought controlling interest in 1998, only to sell it to U.S.-based Cerberus Capital ...

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    Fed grants GMAC bank holding status

    GMAC – and ergo General Motors – just got another Christmas present: the Federal Reserve has granted GMAC bank holding status. GMAC has billions of dollars of bonds coming due over the next 12 months, but doesn't have the liquidity to cover the obligations. As of last week, the ...

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    GM, Chrysler holding merger talks again? Or not...

    Can this really be happening all over again? Weeks after merger talks between Chrysler and GM seemed to implode, the companies may be talking about hooking up again, according to the Wall Street Journal. General Motors Corp. and Chrysler LLC have reportedly stepped back into the negotiation room ...

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    GMAC rushes to conclude bond buyback and avoid bankruptcy

    GM doesn't just have its eye on auto bailout funds -- its GMAC division (of which it owns 49%) is looking for cash from among the $700 billion pledged in the Wall Street bailout. Through the end of next year, GMAC has roughly $12 billion in bonds maturing. But to have any chance at getting Wall ...

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    Cerberus making big demands for remaining stake in Chrysler

    Daimler has already admitted that its 19.9% share in Chrysler is worth absolutely zero as far as its corporate balance sheets are concerned, but that's not stopping Cerberus from going after that remaining bit as it tries to become the sole owner of the beleaguered American automaker. Without full ...

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    Viper still selling like hotcakes, ACR sold out

    Click above for high-res gallery of the Viper ACR Chrysler may be burning to the ground like ancient Rome, but its craziest citizen, the Dodge Viper, is out dancing in the streets. Because even while General Motors prepares to ransack Chrysler LLC, the Viper sales are continuing undeterred. ...


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