The News From Detroit: GM Rocking Not So Much As It Thinks, Chrysler Still Selling It To The Dogs

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Two things or , uhm, data points from D-town. The gist: despite the reported "profit" GM still sucks and Cerebus has hired a former DaimlerChrysler insider to advise it. Or, in the colorful language of Jalopnik writer Ray Wert:

Looks like Dr. Z.'s favorite scion is back in the action, as the Financial Times is reporting Wolfgang Bernhard, the restructuring expert who helped to turn around the 'merican side of the German-American hybrid five years ago, has signed an advisory contract with Cerberus Capital Management. Wethinks that's going to strengthen their bid just a bit, eh? Bernhard, who was chief operating officer at the Chrysler Group until he left to run V-Dub, signed the contract for a full-time role recently, according to the UK financial daily. Wow, what with their big stake in GMAC, the three-headed dog of capital management's really getting into this whole automakin' thing.


GM Finally Releases 2006 Financial Results Showing Profits And Not-So-Much Profits
[Jalopnik]

More Chrysler Group Sales Speculation: Bernhard's Back On The Back Of A Three-Headed Dog
[Jalopnik]

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