So ... it looks like Chrysler will return to American ownership ........

[Stinky The Clown]

May 14, 2007
Daimler sells Chrysler to private equity
Private equity group Cerberus has emerged victorious in fierce three-way battle for control of ailing US car maker
http://business.timesonline.co.uk/tol/business/industry_sectors/engineering/article1786611.ece

And here's the company doing the buying: Cerberus .....

http://www.cerberuscapital.com/port_comp_pro.html

What do we know about them?

By the way, here's an interesting link on the company's name, apropos of nothing:

"In Greek mythology, Cerberus or Kerberos (Greek Κέρβερος, Kerberos, "demon of the pit") was the hound of Hades, a monstrous three-headed dog (sometimes said to have 50 or 100 heads) with a snake for a tail; he was also seen with a dragon's tail and serpentine mane.

Cerberus guarded the gate to Hades and ensured that spirits of the dead could enter, but none could exit (additionally no living person was to come into Hades). Among his siblings are; his sister, Chimera and his brother, Hydra. He is the offspring of Echidna and Typhon."

http://en.wikipedia.org/wiki/Cerberus

[LisaM]

1. Good, can they get rid of those really ugly cars

starting with the Magnum?

And those horrible "German engineering" commercials?

The whole thing was a takeover from the start; after it happened, Daimler-Benz admitted it and said that they wouldn't have been able to market it as anything but a merger, so they lied about it.

[musiclawyer]

2. Don't be too optimistic

Private equity firms don't buy old money losing companies to keep losing money. There are only three options. 1) Bankrupty/restructure/ shed pensions etc 2)liquidation or 3) move all operations overseas. I put my money on 2. I'm afraid the Detroit bigt three, will soon be the Detroit big two. I might be wrong, but it's still sad either way.

[Stinky The Clown]

4. Finding optimism in my post would be unintentional

Most of the time, this is the way big money vultures start to pick the bones.

There was another competitor to buy them who is a Canadian car parts company. That's who I was rooting for.

[Taverner]

3. Or they could have something to do with this dude..

[liberal N proud]

5. They own Alamo and National Car rental agencies

Does that mean that I will get a 300 every time I rent from those two companies?
Maybe at least it will be American made cars only. LOL

[C_U_L8R]

6. Curious name - Cerberus

Curious why would someone name their company after the hound of hell?

Apropos of nothing?

[Stinky The Clown]

7. Curious, indeed

That's why I posted that link