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Detroit Lobbyist John Bozzella Joins Offshore Auto Trade Group
Private equity firm Cerberus placed a large bet during Bozella’s Chrysler tenure by buying controlling interest in Chrysler from Daimler. Prior to that, it bought 51% ownership of GMAC, the financing arm of General Motors. These bets ultimately failed when Chrysler entered bankruptcy in 2009. Both GMAC and GM went into bankruptcy as well. Continue reading
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Tagged autoinformed, autoinformed.com, bailouts, cerberus, chrysler fiat, Ken Zino, nardelli
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