Quantcast Stephen Feinberg: The Most Dangerous Deal In America
Search by or site Login to my blogStart my own blog















TheMoneyBlogs
Home
About
Create your own blog
Contact us
Vote for this blog!

Dah Hui Lau (David)

Knowledge grows through sharing! To be the best, learn from the best! May all your dreams come true!

Stephen Feinberg: The Most Dangerous Deal In America

Posted on 08/16/2007 14:43:35 | Link | Post Comment
Since graduating from Princeton 25 years ago, Feinberg has never given an interview and has never been photographed by the press. Not that there has been much demand until now. On Wall Street, the C.E.O. of Cerberus Capital Management, an investment firm with $26 billion in assets under management, has long been admired. (“You probably think you’re smart,” says one former employee. “Now take your brain and mine, take them to the 28th power, and you have Steve Feinberg.”) To the general public, though, Cerberus has been just another shadowy buyer of companies in an already overpopulated field. The firm’s purchases include a grab bag of brands that lurk on the edge of consumer consciousness: Fila sporting goods, Mervyn’s department stores, Alamo and National rental cars, Air Canada, the GMAC lending arm of General Motors.

All that changed on May 14 when another mustachioed C.E.O., Dieter Zetsche of DaimlerChrysler, announced he was selling Chrysler to Cerberus for $7.4 billion. (Daimler is retaining a 20 percent stake.) It marked the historic end of the German carmaker’s cross-cultural business experiment and the return of an American icon to U.S. soil. Feinberg didn’t even bother to appear at the press conference. “We hesitated [at making the deal],” he says at this meeting a month later, the annual gathering of Cerberus investors, “because we knew it would get an insane amount of press, and boy, we don’t like that. But the deal was so good.”



Full Article
Stock Quote or
Examples
Morpheus Trading - Thu Jul 17, 2008 01:15AM
NOTE: Please click on the charts below to enlarge them if th [read more]
Morpheus Trading - Tue Jul 15, 2008 08:25AM
NOTE: Please click on the charts below to enlarge them [read more]
Morpheus Trading - Mon Jul 14, 2008 02:18AM
NOTE: Please click on the charts below to enlarge them if [read more]

PREMIER SPONSORED LINKS

Most Visited Blogs | Most Popular Blogs | Most Recent Blogs | Contact Us | Terms and conditions | Privacy Policy

The columns, articles, message board posts and any other features provided on TheMoneyBlogs.com are provided for personal finance, education and investment information and are not to be construed as investment advice. Under no circumstances does the information in this content represent a recommendation to buy, sell or hold any security. The views and opinions expressed in an article or column are the author's own and not necessarily those of TheMoneyBlogs.com and there is no implied endorsement by TheMoneyBlogs.com of any advice or trading strategy. The analysts and employees or affiliates of TheMoneyBlogs.com may hold positions in the stocks or industries discussed here. Your use of this and all information contained on TheMoneyBlogs.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.

Copyright © 2008 The Connors Group, Inc.