Chrysler's Hidden Coffers - Forbes.com
I strongly disagree with this argument, and the general one that just because Chrysler is not public, it is less deserving of a bailout than Ford and GM. You also may be surprised at the actual ownership of Ford and GM - the majority of their shares are held by investment houses similar to Cerberus. 71% of Ford’s outstanding equity is institutionally owned, and in addition, 40% of its voting rights are controlled by the Ford family. GM is 78% institutionally owned.
i hesitate to tread on my other world, but “institutionally owned” does not equal “investment houses similar to Cerberus”. private equity does not equal pension fund, endowment fund, union fund, etc.
Fair enough. But the point remains - most of Ford and GM’s shares are not directly held in the portfolios of John Q Public. (avoiding the “Joe Sixpack” reference…)
Source: jeffmiller
