Portfolio Magazine Neutral on Chryslerberus' Prospects
In Portfolio Magazine's feature "The Most Dangerous Deal in America," author Daniel Roth combines high finance with a "what makes Stephen run" profile of Cerberus' enigmatic leader. We get to savor Stephen Feinberg's austere monomania, and enjoy the comedy of Cerberusians chanting "fix and hold, fix and hold." Overall, it seems we have the makings of a genuine tragi-comedy. To wit:
temporary dupe Cerberus employee Wolfgang Berhard's three reasons why buying Chrysler was an excellent idea: "One, DaimlerChrysler just finished spending a 'mountain' redesigning its front-wheel-drive system (meaning Cerberus won’t have to). Two, Chrysler is about to launch a new line of minivans and pickups, vehicle types that have boosted the company’s market share when new models have debuted in the past. 'Three,' he says, 'Daimler was desperate.' The crowd roars with laughter." Wow, If Cerberus believes that, it's only a matter of time before the three-headed dog gets smacked with the world's biggest newspaper. But good.