Word: chrysler
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...Chrysler shocked the marketplace when it appointed Robert Nardelli, most recently known as a symbol of CEO excess, to run the flagging car company, just days after it was bought by the private-equity firm Cerberus Capital Management. Here are the big questions surrounding the appointment...
...land at Chrysler...
...will be tough. Chrysler lost $1.4 billion last year. Thus far, the private-equity buyout has left the company in more debt than anticipated, and Detroit's Big Three are headed into tricky negotiations with the United Auto Workers...
...sell them at a profit a few years later. The banks then slice up those loans and sell them to investors. At least they used to. In recent weeks they've struggled to find buyers for the debt behind several big deals, most notably Cerberus Capital's purchase of Chrysler. So they're unlikely to finance more big buys soon...
Rarely does infrastructure fail as spectacularly as it did Wednesday, when plumes of smoke billowed as high as the 77-story Chrysler Building. Deterioration takes place slowly, and often, when something breaks down, the impact is minimal - for example, wisps of steam coming out of a city manhole due to a leaky pipe. Bill Miller, who worked for over 30 years as an administrative engineer with the Philadelphia Department of Public Health, says the city tended to act only after the fact. "They respond to these systems when problems appear...