Yesterday Cerberus generously (LOL) said that they would forgo any profit made on their Chrysler investment if they received bailout money from the federal government click here.
At first blush, it looks like Cerberus is doing their part and offering to forgo any profit if recognized from the sale of Chrysler. This is laughable considering that Cerberus's $7.4 billion in Chrysler is in no danger of making a profit. Becoming worthless in bankruptcy reorganization yes but a profit? Not a chance in this lifetime. This is just another attempt by the super smart and conniving Steve Feinberg to try to change the political winds in his favor.
Cerberus's investment will be zero in a reorganization and he knows that. If our politicians fall for something this transparent we are all doomed!
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LA County releases claim about number of Hollywood jobs to go under
Paramount-Warner Bros. merger
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Over 10,000 jobs may be on the chopping block as a proposed mega-merger
between Paramount and Warner Bros. threatens to trigger a massive economic
chaos.
8 hours ago
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