No further sale of Chrysler says Cerberus boss

Part of HighGear M E D I A

Heated Seats Are Great But a Heated Steering...

Alex Kaufmann July 13th, 2007

By Alex Kaufmann Author July 13th, 2007

Articles Contributed: 1096
Comments Posted: 1
Leaderboard Rank: N/A

304 Views
No Comments

December 31st, 1969 Cerberus boss John Snow has told reporters that there are no plans to sell the recently purchased Chrysler Group and that the troubled US auto industry is due for a turnaround soon. Snow also revealed that management were pleased with Chrysler CEO Tom LaSorda's recovery plan, which is expected to see positive profit levels return by 2009. In charge of managing its acquisitions are 150 corporate managers, including former Volkswagen exec Wolfgang Bernhard, who has been assigned to look after Chrysler, reports the Associated Press. Cerberus will pay up to $6.1 billion dollars for Chrysler and its financing division and an additional $1.4 billion to previous owner Daimler, and according to Snow, there are no immediate plans to make it a private company once again.

No further sale of Chrysler says Cerberus boss

Enlarge Photo

Cerberus boss John Snow has told reporters that there are no plans to sell the recently purchased Chrysler Group and that the troubled US auto industry is due for a turnaround soon. Snow also revealed that management were pleased with Chrysler CEO Tom LaSorda's recovery plan, which is expected to see positive profit levels return by 2009.

In charge of managing its acquisitions are 150 corporate managers, including former Volkswagen exec Wolfgang Bernhard, who has been assigned to look after Chrysler, reports the Associated Press.

Cerberus will pay up to $6.1 billion dollars for Chrysler and its financing division and an additional $1.4 billion to previous owner Daimler, and according to Snow, there are no immediate plans to make it a private company once again.

Tags: Industry