peHUB Second Opinion 10.23.08
Zero: Daimler's 20% stake in Cerberus-backed Chrysler, once worth $1.18 billion, is now valued at zero. That will make for an interesting deal if Daimler succeeds in selling that stake back to Cerberus, as planned. Bloomberg: Joe The Plumber versus Joe The Hedge Fund Manager. The Real Vultures: From Spirit Halloween Stores, the ACON Investments-backed seasonal costume store that has moved into former Linens ‘N Things stores. "ACON might just be the poster child for other companies looking to prey off the economy's growing pile of stiffs and zombies," Business Pundit writes. Comeback: Citigroup's architect, Sandy Weil, is thinking about raising a PE fund to invest in undervalued financial firms. The fund would have a target of $5 billion.
23 October 2008•2 mins read
