Tuesday, October 20, 2009

Cerberus; A dog with 3 heads buys a gun.


As many may remember Cerberus bought Chrysler for $7,400,000,000 in May 2007. Of course, Cerberus is sparing no expense to spare their investors any exposure. Together with Chrysler, it has spent $7 million to hire such high-rent lobbyists as Dan Quayle (who runs one of Cerberus' international units), former Sen. John Breaux (D-La.) and former Bush legislative liaison David Hobbs. Their goal: $7 billion from the auto industry bailout package Congress is working on now and another $8.5 billion in loans from the Energy Department that have already been authorized.

Now Cerberus is using our tax payer money for other neat investments. I wonder will the tax payers ever get smart?


After bad bets on cars and home loans, Cerberus Capital Management is turning to guns and bullets.

The private-equity firm is in advanced preparations for an initial public offering of Freedom Group Inc., said people familiar with the situation, hoping to sell shares in a little-known company it has built into a dominant player in the red-hot rifle-and-ammunition business.

Over a three-year span, Cerberus -- while under the spotlight for ill-fated acquisitions of auto maker Chrysler LLC and lender GMAC LLC -- has acquired at least seven U.S. gun-and-ammunition makers.

Those companies have been consolidated into a Madison, N.C.-based company ...