Soro's link to this outfit is as valid as his involvement with the JFK assassination. Dan Quayle, on the other hand, was on the board at Cerebus at one point, though what influence he had was probably nil.
All one has to do is read the notes of the 10q of both companies to understand their only agenda is to make money. If you look at the acquisitions Freedom has made, most of them were on the ropes. They acquired Para for $5,000, for example (it was so mired in debt it couldn't couldn't make payroll there at the end).
"The trouble with the internet is validating sources"-- Abraham Lincoln
"Don't believe everything you read on the internet. That's how World War One started"-- Gen. Curtis E. LeMay
Oh by the way. That wasn't my link, but the one that was embedded in the story for discussion. But for everyone here, I am posting the info in that link too.
Cerberus Capital Management
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Cerberus Capital Management, L.P.Type Limited Partnership Industry Private Equity
Hedge Fund Management Founded 1992 Founder(s) Steve Feinberg & William L. Richter Headquarters New York City Products Private Investment funds including:
U.S. Corporate Distressed/Private equity funds
Distressed Securities and Assets
Commercial Lending
Real Estate Total assets More than $20 billion Website www.cerberuscapital.com www.ablecofinance.com www.cerberusbusinessfinance.com Cerberus Capital Management, L.P. is an American private equity firm.[1] The firm is based in New York City, and run by financier Steve Feinberg, who co-founded Cerberus in 1992 with William L. Richter who currently serves as a Senior Managing Director. The firm has affiliate and/or advisory offices in the United States, Europe and Asia.[2]
Cerberus has more than US$20 billion under management in funds and accounts. The company is a U.S. Securities and Exchange Commission Registered Investment Advisor.[3] Investors include prominent government and private sector pension and retirement funds, charitable foundations, university endowments, insurance companies, family savings and sovereign wealth funds.[1]
The firm's headquarters are located at 875 Third Avenue in New York City.
Contents
- 1 Founding/History
- 2 Specialties/Areas of Focus
- 3 Cerberus Operations and Advisory Company LLC (COAC)
- 4 Recent Transactions and Initiatives
- 5 Additional Notable Acquisitions/Exits - by sector
- 6 Broken Deal for United Rentals
- 7 See also
- 8 Notes and references
- 9 External links
Founding/History
Cerberus is named for the mythological three-headed dog that guarded the gates of Hades. Feinberg has stated to his employees that while the Cerberus name seemed like a good idea at the time, he later regretted naming the company after the mythological dog.[4] At this point, however, the firm’s name has significant brand equity.[5]
Specialties/Areas of Focus
The company has been a very active acquirer of businesses over the past several years and now has sizable investments in Financial Services, Healthcare, Consumer & Retail, Government Services, Manufacturing & Distribution, Technology & Telecommunications, Building Products, Energy & Natural Resources, Apparel, Paper, Packaging & Printing, Transportation, Commercial Services, Industrial & Automotive, Real Estate, and Travel & Leisure.[5]
The firm is active in private equity investment, lending, specialty finance, real estate investment, and securities trading.[1] In May 2011, Steve Feinberg noted that the firm also believes that residential mortgage-backed securities may present "a real opportunity for continued investment for quite a period of time"[6] and that there are opportunities in buying assets from European banks. The firm’s current investment portfolio includes more than 40 companies around the world with an average hold time of more than five years.[7]
Cerberus maintains the Cerberus Operations & Advisory Company LLC (COAC) of senior operating executives to support the firm’s due diligence and assist its portfolio companies.[8]
Cerberus Operations and Advisory Company LLC (COAC)
Cerberus utilizes an operations team of over 100 professionals, approximately half of which are currently employed by portfolio companies, to help source, analyze and monitor portfolio investments. Activities performed by members of COAC in the area of control private equity investments, include due diligence, acquisition planning, board membership, special project staffing and, where appropriate, occupying interim or full-time open positions.[8]
Recent Transactions and Initiatives
On March 8, 2012, an affiliate of Cerberus closed its acquisition of a controlling interest in AT&T Advertising Solutions and AT&T Interactive, which were combined into a new entity YP Holdings LLC. AT&T received approximately $750 million in cash, a $200 million note and a 47-percent equity interest in YP Holdings LLC. David Krantz, former CEO and president of AT&T Interactive, was named CEO of YP and will lead the company’s overall strategy and operations. YP includes YP.com and the YPmobile
And for the sake of sucking up more bandwidth here,
http://www.factcheck.org/2011/10/george-soros-gun-grab/
Home • Ask FactCheck • George Soros’ Gun Grab?
George Soros’ Gun Grab?
Posted on October 21, 2011
Q: Does George Soros own the company buying many firms that make guns and ammunition?
A: No. Contrary to a fanciful claim made in a viral email, the Freedom Group is not linked to the liberal billionaire. The National Rifle Association says the real owners are “strong supporters” of gun rights.
FULL QUESTION
Searched your archives and viral stories, couldn’t find. Is there any truth to this?
I googled “Cerberus capital management freedom group buying guns” and found many stories about this. Without lots of research, it looks like it is true!FULL ANSWER
For the last several years a company called “The Freedom Group” has been buying up American gun and ammunition manufacturers.
Some of these companies are:
⬐ Click to expand/collapse the full text ⬏
The anonymous author of this chain letter asks why the media haven’t reported that George Soros is connected to a company that is buying a lot of other companies that make guns and ammunition. The answer to that question is simple: because it isn’t true.
Soros doesn’t own Cerberus Capital Management, a private equity firm founded in 1992 by Stephen Feinberg and William Richter. Both Feinberg and Richter currently serve as two of the firm’s senior managing directors. And Feinberg, also the firm’s chief executive officer, is an avid hunter.
Soros, a billionaire philanthropist and known supporter of Democratic causes, isn’t even one of the company’s 26 senior executives. But the firm’s senior executives do include former Republican Vice President Dan Quayle and former Republican Treasury Secretary John Snow.
It’s true, however, that Cerberus Capital Management owns Freedom Group, a leading company in the manufacturing and marketing of guns and ammunition. And it’s also true that in recent years Freedom Group has acquired many of the firearms and ammunition manufacturing companies mentioned in the email, including Bushmaster Firearms (in April 2006), Remington (in May 2007) and Marlin (in January 2008). But that’s about all the author of this latest viral message gets right.
It has even been taken apart online by none other than the National Rifle Association, the largest gun-rights lobbying organization in the United States. The NRA’s Institute for Legislative Action called the rumor “completely false and baseless.”
NRA-ILA, Oct. 14: Recently, an old rumor regarding Cerberus–the private equity firm that owns Freedom group, a holding company that in turn owns a number of firearms manufacturers, including Remington, Marlin, Bushmaster, and DPMS–was in some way tied to George Soros.So, there’s no need to pass this one on to “all your freedom loving friends” as the email asks.
This rumor is completely false and baseless.
NRA has had contact with officials from Cerberus and Freedom Group for some time. The owners and investors involved are strong supporters of the Second Amendment and are avid hunters and shooters.
In reality, at no time has George Soros ever been a part of the ownership group of Freedom Group or Cerberus, and as a privately traded corporation, there is no possibility that he will be in the future.
This unsubstantiated rumor has caused a great deal of unnecessary concern for gun owners. NRA-ILA urges our members to take great care before repeating baseless rumors found on the Internet.
– D’Angelo Gore