Cerberus on ChryCo: "Our Objective is to Make Money Here on a 10-year Investment"
Quick question: is there anyone who believes Cerberus managing partner Timothy F. Price's assertion [to The New York Times] that the private equity firm views Chrysler as a long-term play? Even ChryCo CEO Robert Nardelli is not brazen enough to make that sort of statement, preferring to go with "Yeah. What he said." Or, more literally, "Our job here is to run this company. Cerberus down the road will decide what strategic alternatives they intend to pursue.” Reporter Bill Vlasic can't come right out and say Chrysler's full of it; he plays one of those NYT nudge-nudge, hint-hint, these guys may be well and truly fucked games. "With limited access to financial data, analysts are skeptical of its overall health." Nothing like digging for a story, eh? Or sipping the Kool-Aid: "Now, Chrysler’s new leaders are settling in for what appears to be the long haul." Or, as we say in these parts, not.
Perfect pic for playing "Guess the Caption" !
There are absolutely none of you who think this could turn Chrysler public again?
Pch-- I think you're underestimating the feelgood vibe Cerberus could engender in the American public if they restored a storied American brand and guarded it against being purchased by off-shore investors. Turning an American brand into a low-end, foreign-product clearinghouse label(akin to what happened to RCA,Magnavox, Zenith, even the 'Marts'-- but those are macrolabels) might bring some consumer backlash. I think the potential for such tremendous negative press("we fix American companies, and sell them to wealthy foreigners for a profit" is not a mission statement many American car people will find palatable) will keep Cerberus from fumbling with Chrysler. I will continue to believe that Chrysler is best when she's down, and that there are quite a few surprises coming that will help her retain her title as the Jean Grey of America's automobile manufacturers.