Quote:
Originally Posted by Design1stCode2nd
Cerberus had no intention of running Chrysler as a going concern. It was a strip and flip from the get-go. Why do you think they don't put up the money now? They know Chrysler doesn't have a chance in hell to contiunue on it's own and they aren't going to put good money after bad. Why do you think they put a hachet man like Nardelli in charge?
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I think Cerberus's original goal was to purchase Chrysler, take it into bankruptcy (financed with financial help from the government to keep the company going in bankruptcy), reorganize it by forcing union concessions on health care, pensions etc., then sell it off in portions. Of course, they didn't anticipate that the economy would sh*t the bed.