Posted on 12/29/2012 1:17:02 PM PST by familyop
Private equity firm Cerberus Capital Management...Here is the firm's statement,..."Our role is to make investments on behalf of our clients who are comprised of the pension plans of firemen, teachers, policemen and other municipal workers and unions, endowments, and other institutions and individuals."
(Excerpt) Read more at finance.fortune.cnn.com ...
I wonder if in a few months they’ll sorta man up and admit this move had a negative impact on their bottom line, like Carbonite did after they pulled their ads from Rush’s show?
It’s time to go on offense, and stop the drip, drip, drip of advancing socialism. It’s time for someone to introduce a bill to repeal the Gun Free Schools Act of 1990. It’s time to expand CCW in every state. It’s time to advance reciprocity in CCW from state to state. It’s time to allow citizens to carry loaded rifles and pistols in their cars so they can stop a crime, or protect themselves from feral gangs and criminals.
That’s a fascinating business model statement
............”Our role is to make investments on behalf of our clients who are comprised of the pension plans of firemen, teachers, policemen and other municipal workers and unions.”....................
Cerberus was the prime financial investor in Chrysler Corp. before it recapitalized thru the government TARP program. It must have taken a huge hit on its equity investment as the stock got wiped out, but like GM, the unions made out like bandits setting new and illegal creditor priorities of bankruptcy laws.
Since Cerberus is in business to suck on the union’s teat, I wonder how much of the Chrysler UAW unions windfall payoff found its way back into the depleted pockets of Cerberus??
Inquiring minds are wondering about the potential size of the vig!
I think it is possible. This is a kneejerk reaction by these people. I sure wouldn’t want them investing my money.
S&W was purchased by a pro-2 Amendment Co. I don’t know all the details, but I’m looking at their entry level AR.
Dan Quayle, Republican Vice President of the United States, under George H.W. Bush, joined Cerberus in 1999 and is Chairman of the company’s global investments division. Based on his title he likely played a key role in making the decision to sell the weapons business.
In the summer of 2007 Cerberus purchased 80% of Chrysler for about $3 billion. It then proceeded to pile $20 billion of new debt on the company, a typical private equity play. By the end of 2008 Chrysler, crushed by the weight of its debt and declining auto sales due to the 2008 financial collapse, was insolvent. Cerberus lost its investment in Chrysler’s auto operations in the federal government directed bankruptcy/restructuring in early 2008.
If the current and future retirees get screwed as a result of this idiotic decision, I could see why the fund mgrs. would advocate for stricter gun laws ;)
Well said. From the left,...
Freedom Group, a gunmaker ripe for an ethical takeover
http://www.cnn.com/2012/12/27/opinion/macintosh-gun-firm-takeover/
......................In the summer of 2007 Cerberus purchased 80% of Chrysler for about $3 billion......... Cerberus lost its investment in Chrysler’s auto operations in the federal government directed bankruptcy/restructuring in early 2008.................
Correct, see my comment #23
given their track record with auto manufacturers, i would say they are not the investors to follow.
Interesting. The Center for responsive Politics fails to open after a search. It is a part of Open Secrets.Org (opensecrets.org) which also fails to open from a search. I too would like verification of the source info.
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