[Psycho_Bunny]

"Cerberus has already agreed to take 30 cents on the dollar."

I'm confused....doesn't Cerberus own Chrysler? What does that have to do with GM? Do they own GM also?

[Red Badger]

Cerberus and GM both have financial divisions, ie GMAC, that would merge as a cost savings to both..............

[Sir Francis Dashwood]

GMAC is the finance arm for General Motors. Yes, Cerberus owns a portion of it...

[Eagle50AE]

>> I'm confused....doesn't Cerberus own Chrysler? What does that have to do with GM? Do they own GM also? <<

The Private entity Cerberus owns a hunk of GMAC, GM’s Financing arm.. However Cerberus will not aid Chrysler or GMAC or open its books.. ..

In the acquisition of Chrysler from Daimler, the bottom line was basically Cerberus bought Chrysler Financial ( Chrysler Credit) and Daimler threw in the Chrysler brand gratis.....

Kinda like building a 17 billion dollar house and paying to give it away..

Before Illness I worked for both and there was NO love lost between the German's and the Chrysler division..

Benz was Darn glad to say by,by..