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Cerebus, Remington, Chrysler, GMAC

Discussion in 'Shooting Related Threads' started by mrskeet410, Jan 1, 2009.

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  1. mrskeet410

    mrskeet410 TS Member

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    Cerebus owns controlling interest in Remington, Chrysler, and GMAC. How will Remington do in 2009?
     
  2. Rem870TB

    Rem870TB Active Member

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    I have been wondering about the same thing.

    I am not the "last word" (or even much of ANY word) in ecconomics, perhaps someone that has better knowlege may have some insights.

    I understand Cerberus was known for purchasing "troubled companies" and turning them around to increase profits and or share prices.

    This worked in the bull markets of the past few years but now, things have changed.

    It has been "on again", "off again" in the news that Chrysler is in merger discussions with GM. I wonder how this fits in with the backing from Cerberus, i.e., if Chrysler has their backing, are the merger talks Cerberus's plan/idea or has the present ecconomic changes made this a necessity?

    If the ecconomic downturn has impacted Cerberus, does that mean an impact on Remington? I would expect that it may.
     
  3. Rem870TB

    Rem870TB Active Member

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  4. ljutic73

    ljutic73 Well-Known Member

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    last I read, Cerberus owned 49% of GMAC...not that it really matters now that they are at the public trough...
     
  5. pendennis

    pendennis Well-Known Member

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    Cerberus can't afford to sell Remington right now. They have about $250 million in Remington debt, paid about $120 million, and the break-up value of Remington is less than $350 million.

    They will probably "package" Remington, H&R, DPMS, etc., at some point, and sell all of it at a nice profit. However, Cerberus is not a "slash and burn" type of company.

    PS - Doesn't Cerberus own 51% of GMAC? I thought they were the majority owner.

    PPS - There are a lot of folks who thought Cerberus should have "bailed out" Chrysler themselves. These companies, like a lot of others, and us individually, set a budgeted amount of investment when buying a company. They are likely as not, to get cheaper money where possible. Government money is cheap. Otherwise Cerberus would have sought out other investors for the Chrysler venture.

    Best,
    Dennis
     
  6. Rem870TB

    Rem870TB Active Member

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    Dennis

    Thanks for the info and comments.
     
  7. Haskins Bill

    Haskins Bill TS Member

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    Cerebus = the five headed dog that guards the gates of HELL.
     
  8. 8point

    8point Member

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    Cerebus also bought savage or Marlin arms which owns Harrington and Richardson.
     
  9. primed

    primed Well-Known Member

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    Cerberus now owns only 15% of GMAC. The govenment "bought" the bulk of their investment there. They also own Chrysler and the government is "bailing them out" there. Maybe the government will give them some money to run Air Canada too. Maybe the government will bail out their firearms holdings.

    I remember when the government only had the money they extracted from fools like us. We can't set up Social Security so that individuals can invest it because the government is afraid that individuals might make poor choices like the government.

    I advised my sister that prior to retirement, she should mortgage her house to the max, get as many credit cards maxed out as she can. If you can't beat these fools, you may as well join them.

    Done venting.

    Bob
     
  10. mrskeet410

    mrskeet410 TS Member

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    George Will on Cerebus, Chrysler, and GMAC. No mention of Remington Arms.
     
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