Monday, May 14, 2007

John Snow buys Chrysler for $7.4 billion

Cerberus Capital Management whose current chairman is John Snow, the former treasury secretary, bought 80% of Chrysler for $7.4 billion.

In 1998, Daimler-Benz bought the brand for $37 billion but a decade of losses followed.

Meanwhile, the Chrysler building remains the tallest brick building in the world.

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