| The red flag signals the bid battle among Chrysler | | | | the strategy for the potential sale of Chrysler. |
| Group's potential purchasers. And the challenge is for | | | | Cerberus is competing with Blackstone and |
| them to satisfy. In order to put up a good fight, | | | | Centerbridge Partners, a new private-equity firm that |
| Chrysler's suitors have sought considerable help from | | | | include former ace auto analyst Stephen Girsky as its |
| top executives in the auto industry. | | | | top executive. According to people familiar to the |
| Bernhard and Rewey, former top auto officials in the | | | | situation, other potential bidders for Chrysler include |
| industry, will help the Cerberus Capital Management | | | | the General Motors Corp. and Canadian auto supplier |
| compete with potential bidders for Chrysler. Cerberus | | | | Magna International. |
| has managed to come up with an all-star team of | | | | The Chrysler Group was essentially put up for sale 14 |
| former auto executives spearheaded by Wolfgang | | | | February when DaimlerChrysler CEO Dieter Zetsche |
| Bernhard to boosts its efforts to purchase the ailing | | | | said the German automaker was exploring "all |
| automaker. | | | | options" for its American unit. The unit has three |
| "Private equity needs experienced people in the | | | | brands - Chrysler, Dodge and Jeep. The most |
| industry to help understand the challenges," noted | | | | problematic brand among the three is Chrysler. The |
| Colin Blaydon, the director of the Center for Private | | | | rest of the brands are doing pretty well. |
| Equity and Entrepreneurship at the Tuck School of | | | | Dodge and Jeep are trying different strategies to win |
| Business at Dartmouth. | | | | over customers. As a fact, it entertained online |
| With Bernhard on the steering wheel, Cerberus is | | | | adventures and films as well as other advertising |
| expected to gear up for a heated battle with | | | | strategies to boost sales. The brands are also |
| competitor Blackstone Group which is a | | | | famous for being flexible. Add-ons like the auto |
| private-equity giant. In the race to acquire Chrysler, | | | | ventshade could be used to dress the vehicles. |
| Cerberus wanted to take advantage of the best it | | | | The sources also said that DaimlerChrysler is |
| has hence it made Bernhard the adviser and tapped | | | | expecting to receive formal bids for Chrysler by the |
| Robert Rewey, former Ford Motor Co. executive to | | | | end of March. Teams from Cerberus and the |
| aid in its bid for the troubled American division of | | | | Blackstone and Centerbridge group visited Chrysler |
| DaimlerChrysler AG. | | | | headquarters in Auburn Hills earlier this month. |
| According to the people familiar to the situation, | | | | Representatives from the two companies have also |
| Bernhard, Chrysler's former chief operating officer, | | | | met with Daimler's officials in Stuttgart, Germany. |
| met with Cerberus officials this week to decide on | | | | |