Latest Cerberus Capital Management Stories

2009-05-05 06:58:00

- First quarter net loss of $675 million - Weak economic conditions and legacy credit costs adversely affected results - Increased levels of consumer credit extended in the quarter: $3.8 billion in auto and $13.4 billion in mortgage - Tier 1 capital ratio of 10.6 percent; Tier 1 common ratio of 7.3 percent - GMAC Mortgage begins participating in Home Affordable Modification Program - GMAC becomes preferred provider of automotive financing for Chrysler dealers and customers NEW YORK, May...

2009-04-30 14:02:00

NEW YORK, April 30 /PRNewswire/ -- Cerberus Capital Management, L.P. ("Cerberus") issued the following statement today, attributable to Mark Neporent, Cerberus Chief Operating Officer and General Counsel. "Cerberus has worked diligently with the U.S. Department of Treasury, Mr. Bloom, Mr.

2009-04-30 13:01:00

NEW YORK, April 30 /PRNewswire/ -- GMAC Financial Services today announced that it has entered into an agreement with Chrysler LLC to provide automotive financing products and services to Chrysler dealers and customers.

2009-04-30 12:09:00

AUBURN HILLS, Mich., April 30 /PRNewswire/ -- Chrysler LLC today announced that, as a result of the comprehensive restructuring plan agreed to by many of its stakeholders, it has reached an agreement in principle to establish a global strategic alliance with Fiat SpA to form a vibrant new company.

2009-04-29 18:05:00

US auto giant Chrysler LLC would have its management shifted from Michigan to Italy in the event of bankruptcy, people connected to the negotiations said.

2009-04-10 09:20:05

The U.S. government is pressing creditors to accept cuts in General Motors Corp. and Chrysler LLC debt to avoid automaker bankruptcies, sources said. Sources told The Wall Street Journal that the U.S.

2009-04-01 08:11:00

DETROIT, April 1 /PRNewswire/ -- GMAC Financial Services is initiating some extraordinary actions today to reduce the stress on U.S. auto dealers and to expand the credit available to retail customers.

2009-03-20 08:00:00

MIAMISBURG, Ohio, March 20 /PRNewswire/ -- NewPage Corporation (NewPage) today announced the election of Mark A. Suwyn to Executive Chairman of the Board and the simultaneous election of Richard D. Willett Jr.

2009-01-09 14:23:00


2009-01-06 19:22:59

General Motors Corp. will be able to tap into a second helping of federal loans totaling $5.4 billion on Jan. 16, the U.S. Treasury Department says. The loan is part of the federal government's $13.4 billion effort to rescue the failing U.S. automaker, the Detroit Free Press reported Tuesday.

Word of the Day
  • To befool; deceive; balk; jilt.
  • An illusion; a trick; a cheat.
The word 'begunk' may come from a nasalised variant of Scots begeck ("to deceive, disappoint"), equivalent to be- +‎ geck.