Word: cerberus
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...though, Chrysler is in the red (it lost $2 billion in the first quarter alone) and will soon be on its own, and the UAW's four-year contracts with the D3 expire in September. All eyes in Detroit are on how much Cerberus--a 15-year-old firm with a reputation for cost cutting--will be able to squeeze...
...German automaker DaimlerChrysler announced that it would pay private-equity firm Cerberus Capital Management of New York City $675 million to take a bunch of old people's medical problems off its hands...
True, there was a carmaker thrown in as part of the deal, and Cerberus agreed to invest a few billion dollars to help get struggling Chrysler back on its feet. Just after the transaction was announced, DaimlerChrysler CEO Dieter Zetsche (he of the big mustache and the TV ads) bristled when a journalist suggested that he had paid Cerberus to cart Chrysler away: "It was clearly stated that Cerberus invests 7.4 billion U.S. dollars in this transaction, which is not any form of being paid," he snapped...
...Medicare. To bridge itself to 2010, GM is shedding factories and workers, offering buyout packages to its entire North American hourly workforce. It is also raising cash by unloading assets like a 51% stake in its GMAC finance arm, scheduled to be sold to a private equity firm, Cerberus Capital, for $14.1 billion. "We've made big moves in every area," Wagoner told TIME, adding that GM has "no plan, strategy or vision to utilize bankruptcy" to restructure...
...area, Death must preside over the dining area. (That's his life-size picture looming down on you from the wall, dressed in black robes and wearing the face of former Harvard President Charles Eliot--Eliot was the creator of the QRR, after all). The checker's table becomes Cerberus, sternly overseeing the passage of souls (read: diners) from savory-baked life to oak-paneled afterlife. The dining hall proper is like a vast tomb where emptiness oppresses from all sides. The endless rows of uninviting conference tables (sprinkled with too-few friendly round tables) are poorly arranged...