Posted on June 19, 2008 at 12:48 PM
Filed under: Corporate Strategy
Tagged: Cerberus Capital Management , Chrysler , Robert Nardelli

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After borrowing $7 billion to take an 80% stake in an ailing Chrysler LLC, Cerberus Capital Management LP has the difficult task of turning around an automaker amidst an oil spike wrapped in a credit crunch. A lengthy article over at Bloomberg.com takes a look at the day-to-day goings-on at Chrysler and how Robert Nardelli -- who checks his e-mail every day to see how much cash they have on hand -- is handling his duties as CEO. The article also looks at the strategy behind making the firm profitable as a smaller entity.

As The Deal's Lou Whiteman reports, Chrysler is trying to change public perception that it is a money-losing afterthought in the global auto business, while Cerberus has come under fire from various media sources questioning the wisdom of its investment in the auto business. - Baz Hiralal

Cerberus Rues Chrysler Drain as Nardelli Fails to Arrest Losses
Cerberus, Daimler squabble over Chrysler

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