Posts Tagged ‘cerberus’



Chrysler Group LLC Deputy Chief Executive Jim Press owns more than $18 million worth of real estate in some of the country’s priciest ZIP codes, but he has financial problems more commonly found on the factory floor, not the boardroom.
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The arrangement is unusual: Minority shareholder Fiat SpA, having contributed no cash, is running the new Chrysler Group LLC and exerting clout far beyond what its 20 percent stake would suggest.
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A federal bankruptcy judge late Tuesday approved Chrysler LLC’s plan to immediately close 789 of its nearly 3,200 dealerships.
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