Joel Greenberg Quoted in Reuters on Scrutiny of Cerberus as Result of Chrysler's Request for Government Bailout
Joel Greenberg, Co-Chair of the Corporate & Finance Department, was quoted in the November 20, 2008 Reuters article titled "Cerberus Faces Unwelcome Scrutiny in Autos Struggle." The article discusses the increased attention upon the private equity firm Cerberus Capital Management, which acquired Chrysler LLC in May 2007. With Chrysler, along with Ford Motor Co. and General Motors Corp., asking for a government bailout to rescue the American auto industry, Cerberus is in difficult position of asking for public money to save a private company. "I think Cerberus is very conscious of the fact that they're going to have to come up with some deal with the government if Chrysler is to be included," said Mr. Greenberg. "Somehow they'll have to convince the government that the bailout ... isn't going to flow immediately into Cerberus' pockets."