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Cerberus to give up stake in Chrysler

by Bill Cawthon on

The Wall Street Journal cites “persons familiar with the matter” as saying Cerberus Capital Management will give up its 80.1 percent stake in Chrysler LLC as part of the government-mandated restructuring of the troubled automaker.

Cerberus will retain its controlling interest in Chrysler Financial.

Note: this appears to be a re-run of a story posted in December 2008.

Bill Cawthon grew up in the auto industry in the 1950s. His Dad worked for Chrysler and Bill spent a number of Saturdays down on the plant floor at Dodge Main in Hamtramck. Bill is also the U.S. market correspondent for just-auto.com, a British auto industry publication, and a member of the Texas Auto Writers Association, which has named the Jeep Grand Cherokee the “SUV of Texas” several times and named the Ram 1500 as the “Truck of Texas” two years running.

Bill has owned five Plymouths (including the only 1962 “Texan”), one Dodge and one Chrysler and is still trying to figure out how to justify a Wrangler. He also has owned at least one of every 1:87 scale model of a Chrysler product. You can reach him directly at (206) 888-7324 or by using the form.


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