Posted by David Sherman on Wednesday, November 28, 2007 at 12:02:07 :
In Reply to: Re: BRILLIANT!!! posted by APB in Frigid NY on Wednesday, November 28, 2007 at 09:27:15 :
The Economist had an article recently along those lines:
"NAMING yourself after the three-headed dog that guards the gates to hell was, perhaps, asking for trouble. Cerberus, the private-equity beast in question, now finds itself at the centre of a fierce debate about whether corporate America is in for a hellish time, as the credit crisis spreads from financial services to the rest of the economy.
Only months ago Cerberus was praised as the saviour of the American car industry when it bought Chrysler from its German owner and struck a remarkable deal with the unions to cut jobs and benefits. But on November 20th it emerged that Cerberus's bankers had abandoned efforts to sell $4 billion of the debt it took on when it bought Chrysler. Investors turned up their noses even when offered a 3% discount."
There's a lot more if you want to read it.