Chrysler bailout and guns
Countertop looks at how Obama and Chrysler can impact the gun industry:
Well, Cerberus Capital Management, L.P. stands to receive Billions with a B from the forced sale of Chrysler (not to mention that they own 51% of GMAC . . . . low and behold, right now all new Chrysler financing will be handled through GMAC). They also own, amongst other firms Bushmaster Firearms, Inc., Remington Arms, Cobb Manufacturing, DPMS Panther Arms, and Marlin Firearms.
May 7th, 2009 at 12:30 pm
Cerberus is one big ass, scary bunch of mo-fos. The fact that they bought Chrysler, then let if flounder and flop around until it died does not speak highly of how they would exercise their immense powers and influence if their holdings of gun companies were threatened by government actions.
May 7th, 2009 at 12:42 pm
My research into Cerberus was that it is mostly a good group of people. I read a fair bit and my take away was that they felt they could get control of a US-based heavy manufacturing industry. That would be a might nice capability for them to have.
I looked into some of the people who run the show there (not easy to find) and they appear to be some fiercely loyal US citizens. I didn’t come away with the impression that they are lib-tards or socialists.
My opinion is that they came into the deal to get Chrysler with not enough capital. I think they didn’t realize how much money it takes to develop, test, release, and support a car. I also think they didn’t understand how the UAW is a 900 pound gorilla in the industry.
At this point, they owe a lot of people a lot of money and are probably scrambling and distraught.
My speculation is that they are in this for the ride at this point and there isn’t much they can do about it. If the UAW is 900 pounds, the FedGov is over a billion tons.
These men made their careers on their reputation and connections. They can’t afford to burn those bridges by just closing Chrysler. They’re fucked.
And – regrettably – so are we.