This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Sandy Hook Tragedy Forces Gun Maker Out of Cerberus' Hand

Cerberus Capital Management has over $20 billion in assets under management and was founded by Stephen Feinberg in 1992. Prior to Friday's school shooting, the private equity fund had drawn scrutiny from the New York Times for its holding of gun-related assets. The firms was also widely criticized for its roughly $7 billion buyout of Chrysler prior to the automaker's bailout.

During the financial crisis, Chrysler and another multi-billion buyout bet - GMAC received billion dollar bailouts from the federal government. While Chrysler's eventual bankruptcy wiped out Cerberus's investment in the automaker, the firm was reportedly able to break even as a result of a holding in Chrysler Financial, which was sold to TD Bank in 2010.

For more on Cerberus Capital Management, see why its founder said last year its multi-billion dollar Chrysler investment was a bad deal.

-- Written by Antoine Gara in New York
2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
DKS $37.42 2.30%
RGR $63.84 2.00%
SWHC $22.84 3.40%
WMT $66.16 1.30%
AAPL $93.79 0.10%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs