Anyone heard of this Cerberus company?

[Balog]

I just read a full list of gun companies owned by Cerberus Capital Management LP, and I'm a bit stunned. Remington, Marlin, Bushmaster, Cobb, DPMS. Damn. Not to mention a ton of companies in other fields.

So does anyone know anything about the "intensely private" Steve Feinberg? His Business Week bio says his senior thesis at Princeton was on legalizing drugs and prostitution, so he sounds libertarian-y (assuming he was for it). Hunting is listed as a hobby. And he's bought up a bunch of EBR companies, and even got Remington started making em.

All in all seems like one of the good guys. Anyone know anything about him or his company that should be making me nervous?

[nico]

They also tried to buy a big chunk of Chrysler a few months ago.

[Balog]

80%. And I believe they did, in fact, acquire it.

http://www.autoblog.com/2007/08/03/done-deal-cerberus-takes-control-of-chrysler-today/

[Manedwolf]

Interesting name for a company. The three-headed guardian of hell... You usually only see companies with names like that in fiction.

[Harold Tuttle]

Dan Quayle is involved
http://www.businessweek.com/magazine/content/05_40/b3953117.htm
http://en.wikipedia.org/wiki/Cerberus_Capital_Management

me thinks they will prevent another AWB
and control enough of the AR15 market to set pricing and manage the supply of parts

From my analysis of the 2005 BATFE sales report Cerberus controls ~50% of the US rifle market:

01_______226761_______MARLIN FIREARMS COMPANY, THE_______CT

03_______172034_______REMINGTON ARMS CO INC_______NY

04_______132687_______REMINGTON ARMS CO INC_______KY

07________67869_______H&R 1871, LLC_______MA

09________47466_______DEFENSE PROCUREMENT MFG SERVICES INC_______MN

11________41430_______BUSHMASTER FIREARMS INTERNATIONAL LLC_______ME

17________16035_______BUSHMASTER FIREARMS BFI/QUALITY PARTS CO_______ME


40_________1967_______BUSHMASTER FIREARMS INTERNATIONAL LLC_______AZ


44_________1406_______BUSHMASTER FIREARMS INC_______AZ

53__________538_______COBB MANUFACTURING INC_______GA


Total  708,193/1,496,505

[Manedwolf]

Don't automatically expect all positive actions from a company looking for a profit. They might prevent ARs from being on an AWB, but be perfectly alright with (or even encourage) further import bans.

Every $250 Saiga 5.56 sold is an AR not sold, and I'm sure they're not missing that point. So keep an eye on their PACs, too.

[Balog]

Interesting name for a company. The three-headed guardian of hell... You usually only see companies with names like that in fiction.

Apparently it seemed like a good idea at the time, but the guy has since regretted it.

Is Feinberg a Jewish name? I suppose it's too much to hope the guy is a JPFO'er. 

[Manedwolf]

If he's Jewish, ought to have called it Leviathan.

[Parker Dean]

The automotive punditry is pretty much of the opinion that Cerberus bought Chrysler for the financial arm and would just strip-n-flip Chrysler Manufacturing. Cerberus choice of Nardelli is somewhat at odds with this since I've read that he tends to make plans and choices that are more long term, while being ruthless about profitability now of course. Others feel that Cerberus got suckered even if Chrysler was essentially free.

Now reading about some of the other Cerberus acquisitions in manufacturing I begin to wonder if there's not something more afoot. Like maybe it's really an ego thing and somebody wants to be the modern Carnegie, Rockefeller, etc.

[Perd Hapley]

If he's Jewish, ought to have called it Leviathan.

He's got a big company that owns everything.  Of course he's Jewish.