Onex's Wright Doesn't See Buyout Recovery Before 2009 as Banks Curb Credit Jan 24, 2008
Cerberus Capital Management LP Chairman John Snow and Carlyle Group co-founder David Rubenstein said today the lack of credit is crimping the pace of buyouts. Snow said banks need to ``purge'' about $200 billion of loans for which they haven't found buyers before LBO firms can resume 2007's record pace. (Bloomberg -- Canada)
Business leaders appeal for crisis leadership Jan 24, 2008
Another former head of the U.S. Treasury, John Snow, was more supportive of the U.S. central bank. What yesterday's action shows us is the Fed is focused but they are aware of negative trends in the economy and prepared to take bold steps, he said. (Globe and Mail -- Business)
Two views in the White House on an economic fix Jan 17, 2008
(The first one, Paul O'Neill, cooperated in a tell-all book after he left, and the second, John Snow, was unceremoniously pushed out the door. . (International Herald Tribune)
CNBC Europe to Provide its Most Extensive Coverage at the World Economic Forum Annual Meeting, Davos Jan 17, 2008
- Secretary John Snow, Chairman of Cerberus Capital Management. - Ibrahim Dabdoub, CEO of the National Bank of Kuwait. (Yahoo! Wire -- Entertainment News)
Greenspan going to work for hedge fund Jan 16, 2008
Former Treasury Secretaries Lawrence Summers and John Snow provide advice to D.E. Shaw and Cerberus. Greenspan enjoyed near-legendary status for much of his reign at the U.S. central bank, but his reputation has suffered as the housing bubble over which he presided has deflated, resulting in tens of billions of dollars in losses for financial institutions and investors. (International Herald Tribune -- Business)
Cerberus 'Blocks' Another Deal Dec 5, 2007
Officials at Cerberus, which counts former Treasury Secretary John Snow and former Vice President Dan Quayle as advisers, have maintained that the firm is not in trouble. Cerberus recently acquired car giant Chrysler after tense negotiations with union officials and the banks funding the deal. (New York Post -- Business)
Hard cash - rebels' money came with menaces Dec 3, 2007
Barred from returning to grade and Sheffield Shield cricket, two teams of Australia's best players, cynically described as "Packer's circus", played fast bowling of the calibre of Andy Roberts, Michael Holding, Joel Garner, Wayne Daniel, Imran Khan, Garth Le Roux, Mike Procter and John Snow day in, day out. They played the WSC West Indians in three SuperTests and the WSC World XI, captained by Tony Greig, in another three SuperTests in the summer of 1977-78 as well as playing limited-overs... (Sydney Morning Herald -- Sport)
Ex-U.S. Senate majority leader joins local equity firm Nov 28, 2007
John Snow, former Treasury Secretary, also joined Cerberus. Bill Clinton, who served two terms as president following the elder Bush, is on the board of private-equity firm Yucaipa Cos. (Crain's Chicago Business)
Paulson Finds Bush's Treasury Proves No Career Enhancer Like Goldman Sachs Nov 22, 2007
Paulson's predecessor at Treasury, John Snow, agrees it was right to get involved. Nobody wants to see institutions that have basically healthy businesses taken down by a panic,'' says Snow, 68, now chairman of private equity firm Cerberus Capital Management. (Bloomberg)
Pressure mounts on Darling as Rock bidders line up Nov 18, 2007
- The American private-equity house Cerberus is chaired by John Snow, a former US treasury secretary. The group is interested in either a rescue plan for Northern Rock or a break-up to buy its mortgage assets. (Times Online)
Paulson Enhances `Strong Dollar' Language in Signal to Europeans, Canada Nov 16, 2007
John Snow, Paulson's predecessor, told reporters May 17, 2003, that ``what you want to be strong is you want people to have confidence in your currency. That means it's accepted as a store of value and is hard to counterfeit, he said. (Bloomberg -- US)
American Gangster's Wad of Euros Signals Waning Confidence in Dollar, U.S. Nov 15, 2007
I wouldn't bet against the U.S. as the world's reserve currency,'' says former Treasury Secretary John Snow, now chairman of Cerberus Capital Management in New York. The dollar markets are so deep and so liquid and the American economy is so fundamentally advanced. (Bloomberg)
Paulson May Find `Strong Dollar' Mantra Inadequate as Europe Decries Drop Nov 14, 2007
O'Neill's successor, John Snow, added a phrase that the Bush administration also believes exchange rates ought to be set freely in open markets, based on fundamentals. Paulson on two occasions last week added his own words to his support for a strong dollar and market-set exchange rates based on fundamentals. (Bloomberg)
Chrysler's Last Stand Nov 10, 2007
Still, says former Treasury Secretary John Snow, Cerberus chairman: "There's a sense at Cerberus that U.S. manufacturing in general, and the auto industry in particular, continue to have a bright future, not only in America, but in the global economy." Cerberus' founder and chief executive, Stephen Feinberg, views saving Chrysler as a matter of national pride. "Feinberg is in this for the country. He sees this as a way to pay back, and so do I," says Press, 61, who spent 37 years at Toyota,... (Forbes -- Business)
The Creativity Conceit Nov 7, 2007
Citing Apple s iPod at a Virginia trade conference a few months ago, former U.S. Treasury Secretary John Snow commented, China gets to do what they do well: low-value manufacturing. America gets to do what we do well: return on intellectual capital. (The American Conservative)
Why did the housing crisis catch watchdogs by surprise? Oct 19, 2007
then Treasury Secretary John Snow, April 7. 2006. (Yahoo News)
Chrysler, Cerberus Settle Six-Hour Walkout Oct 11, 2007
Chrysler's new CEO Bob Nardelli, who was installed by Cerberus and is not known to be union friendly, had been frequently updated on the progress of the talks, as was Cerberus Chairman John Snow and founder Stephen Feinberg. Nardelli was scheduled to visit with Chrysler dealers yesterday in Las Vegas. (New York Post -- Business)
Not toughRohit Brijnath on why Sreesanth needs to cool down Oct 4, 2007
Sreesanth's attitude is a welcome change to the times when not so long ago Indian batsmen used to cringe at the bouncers ad beamers hurled at them from the West Indians and Thomson, Lee from Australia, and the bullying from John Snow and Bob Willis. They did not have the bowlers then to give as good as they got, including Kapil Dev. (BBC News -- South Asia)
Post a comment Oct 3, 2007
John Snow, then Secretary of the US Treasury in 2002, was screaming that from the hypocritical rooftops. 5 years and a drop of over 30% later, the rally cry is still the same. (International Herald Tribune)
Four plans address crisis in health care Sep 26, 2007
The recommendation was among four that the consulting firm John Snow Inc. recommended as a way for the county to dig itself out of a health-care crisis ... Webb, with John Snow Inc., which was hired in April, had four recommendations for the county. (Durango Herald)
Stora sale creates uncertainty Sep 24, 2007
Cerberus, with former U.S. treasury secretary John Snow as chairman, reported that its investments currently generate more than US$60 billion in annual revenues. The company says Stora Enso s North American operations will be rolled in with its NewPage Corp. arm, which describes itself as the largest maker of coated papers in North America. (ChronicleHerald.ca)
Greenspan: GOP gave up 'principle for power' Sep 18, 2007
Fratto countered that O'Neill and former Treasury Secretary John Snow "had the opportunity to present their ideas through the policymaking process. If ideas failed to carry the day, it probably had something to do with the force and logic of the policies being advocated, rather than anything about the 'process.' Ideas were considered, sometimes they achieved consensus, sometimes not -- nothing unusual there. At any rate, where we ended up on economic policy was right, as our records show.".... (CNN)
Bush in consensus mode with AG pick Sep 18, 2007
That includes Robert Gates, who replaced Donald Rumsfeld at the Pentagon; Wall Street veteran Henry Paulson as Treasury secretary, following John Snow; and Robert Zoellick at the World Bank, replacing Paul Wolfowitz, one of the original architects of the Iraq war. "In his first term, there were three criteria. Loyalty, loyalty and loyalty. The fourth, which occasionally came in, was competence," said Stephen Wayne, a political scientist at Georgetown University. (Modesto Bee, CA)
Chrysler back in American hands Sep 8, 2007
Cerberus Chairman John Snow said Cerberus plans to keep Chrysler's management team in place and give it the freedom to implement its restructuring plan. Part of that plan is the introduction this month of the redesigned 2008 Dodge Caravan and Chrysler Town ry minivans, which are critical products for Chrysler. (Business Report, South Africa)
Chrysler poaches Toyota's top US executive Sep 7, 2007
Chrysler was taken over last month by Cerberus Capital Management, a private equity firm headed by former US Treasury secretary John Snow, in a 7. 4-billion-dollar deal with German auto group DaimlerChrysler. (Yahoo News -- Top Stories)
The White House "C" Team Sep 1, 2007
Most of the cabinet changes have been improvements too: Robert Gates for Donald Rumsfeld, Henry Paulson for Paul O'Neill via John Snow, Michael Hayden for George Tenet via Porter Goss, Tom Ridge for Michael Chertoff (post 9/11) and anyone for John Ashcroft via Alberto Gonzales. All that might bring the grade up to a "C.". (CBS News)
GM, Ford Shares Are Threatened by Cerberus Divide on Union-Led Health Fund Aug 25, 2007
Cerberus, the buyout firm led by former U.S. Treasury Secretary John Snow, completed its $7. 4 billion purchase of 80. (Bloomberg)
The Washington Posts Amar C. Bakshi Aug 22, 2007
His comments mirror those of John Snow, First Treasury Sec. of Bush and those of Colin Powell; Bush and his close knit neo-cons were not willing to listen to anyone's advice. John Snow says this in his White House memoirs. (Harper's Magazine)
Why's Condé Nast's Portfolio So Bad? Aug 21, 2007
" It's not that, either. The unfortunate thing is that it could be both. Portfolio should be a magazine about power, specifically in the private sector: who has it, how they got it, what they do with it, and whether they're using it for good or evil. (If you're going to write about , for example, I have less interest in how secretive Steve Feinberg claims the firm is than what sort of deals John Snow is cutting in China, with whom, and to what extent the Chinese government is involved--something... (New Republic)
Drinking water systems much improved, but still challenging Aug 20, 2007
The first tells the story of the pioneering British doctor John Snow, who devoted his life to the study of cholera in the mid-1800s. The tale has all the makings of a thriller: There is a fetid, hellish London that's a breeding ground for disease; a cast of bumbling public officials such as the sanitarian Edwin Chadwick, who routed the city's sewage into its primary water source, the Thames, inadvertently killing thousands; and a monastic hero, Snow, who rose from poverty in York, hiked almost... (San Francisco Chronicle -- Politics)
Fed's pugnacious policies hurt economies Aug 16, 2007
"The dollar weakened to $1.2683 per euro at 7:27 a.m. in New York on the first trading day in 2004, from $1.2586 late Friday, the last trading day in 2003, after sinking to $1.2697. Versus the yen, the dollar fell to 106.26 from 107.07. If the Fed is not concerned about the dollar's fall, the Treasury is not about to care because the weak dollar is a long term problem that can be dealt with later while the Treasury needs a booming economy for the election in November. Demand for the dollar has... (Asia Times Online)
Hedge funds need trimming Aug 14, 2007
Chrysler may be redeemable, but Cerberus head John Snow has not explained how. He doesn't have the skills for that. (Asia Times Online)
It's official: Cerberus gains control of Chrysler Aug 12, 2007
John Snow, Treasury secretary from 2003 to last June and former head of railroad CSX, was named chairman of Cerberus in October. In July, Snow said Cerberus plans to let current Chrysler management continue with its restructuring plan. (USA Today -- Autos)
Group looks to health panel Aug 11, 2007
The Citizen Health Advisory Council hired John Snow Inc. to recommend a long-term solution to the primary-care crisis. The firm hasn't finished its study, but meanwhile the city of Durango and La Plata County have put up $200,000 each to pay for the study and to operate a stopgap clinic located near the former Mercy Medical Center site on East Third Avenue. (Durango Herald)
* Chrysler names new chairman, CEO Aug 7, 2007
Cerberus chairman John Snow previously had said Cerberus planned to keep Chrysler's management team in place and give it the freedom to implement its restructuring plan, which currently calls for shedding 13,000 hourly and salaried jobs in the US and Canada by 2009. "Bob has a proven track record of success and an unwavering focus on performance, and brings deep operational experience and a broad industry background to Chrysler," LaSorda said in the statement. (Taipei Times, Taiwan -- Business)
Choice for Chrysler CEO blasted Aug 7, 2007
Sign up to receive our free Cars e-newsletter and get the top news of the day in your inbox. Get breaking news in your inbox as it happens. (USA Today -- Autos)
Chrysler Gets Nardelli's `Fresh Set of Eyes' Aug 7, 2007
John Snow, Cerberus chairman, insists the private-equity firm hopes ``to help bring an American automotive icon back to a path for profitability and long-term success. . (Bloomberg -- Columnists)
Chrysler's New 'Tough-as-Nails' CEO Aug 7, 2007
Just last week, Cerberus Chairman John Snow, the former Treasury Secretary under President George W. Bush, said there would be no management shakeup coming at Chrysler, although with outgoing CEO being demoted to president and vice-chairman, that is clearly not the case. Page. (BusinessWeek)
Chrysler owner goes outside the industry for a resuscitator Aug 7, 2007
The chairman of Cerberus, John Snow, had expressed support for Chrysler's existing management team, particularly Mr LaSorda, who had been Chrysler's chief executive since the start of 2006. Mr LaSorda's job security appeared somewhat fragile last year, when Chrysler lost $US1. (Sydney Morning Herald -- Business)
New Chrysler, led by ex-Home Depot boss Nardelli, is unveiled Aug 7, 2007
Cerberus Chairman John Snow previously had said Cerberus planned to keep Chrysler's management team in place and give it the freedom to implement its restructuring plan, which currently calls for shedding 13,000 hourly and salaried jobs in the U.S. and Canada by 2009. Nardelli helped increase revenue and profits at Home Depot and boost the number of stores the company operates. (San Diego Union-Tribune -- Business)
To Run Chrysler In Industry Shift Aug 6, 2007
Cerberus Chairman John Snow said in a recent interview that one of the private-equity firm's assets is that it brings a "fresh eye" to problems facing a company. "We bring an intensity to a business and a new way of looking at issues," Mr. Snow said. (Wall Street Journal)
Cerberus takes control of beleaguered automaker Chrysler Aug 6, 2007
Although Bernhard frequently has been seen on Chrysler's headquarters campus, Cerberus Chairman John Snow has said Cerberus plans to keep the same management team in place and give it the freedom to implement its restructuring plan. Snow has said LaSorda can draw on experience of Bernhard and other Cerberus advisers as he works to restore Chrysler to profitability. (Madison Daily Leader, SD)
Cerberus to buy Chrysler majority Aug 6, 2007
Analysts believe the private equity firm - which has been headed by former US Treasury Secretary John Snow since last October - might be considering merging the GMAC outfit with Chrysler Financial. The name Daimler AG will replace DaimlerChrysler, pending shareholders approval. (Yahoo News -- Automobiles & Driving)
Ex-Home Depot chief taking reins at Chrysler Aug 6, 2007
In buying Chrysler from DaimlerChrysler in May, the chairman of Cerberus, John Snow, vowed that his firm wanted to help the auto industry regain its prior strength. Despite the initial fears of union leaders that Cerberus might "strip and flip" Chrysler, selling it off in pieces, Snow denied that such plans were being made. (International Herald Tribune)
Ex-Home Depot chief Nardelli to head Chrysler Aug 6, 2007
Cerberus Chairman John Snow had said last month that LaSorda would remain CEO of the ailing automaker. LaSorda remains with Chrysler, as vice chairman and president, reporting to Nardelli. (USA Today -- Autos)
Nardelli: Back in the Game at Chrysler Aug 6, 2007
Just last week, Cerberus Chairman John Snow said Chrysler management would stay intact. But former Chrysler Chief Operating Officer Wolfgang Bernhard, who had worked with Cerberus on the acquisition and was expected to be named chairman, suddenly left Cerberus in the last few days for "family reasons," according to Chrysler spokesman Jason Vines. (BusinessWeek)
Chrysler sold in unprecedented auto deal Aug 4, 2007
John Snow, Treasury secretary from 2003 to last June and former head of railroad CSX, was appointed chairman of Cerberus in October. Former vice president Dan Quayle is a director. (USA Today -- Money)
General Assembly reaches budget agreement Jul 30, 2007
John Snow, D-Cherokee, was the only Senate Democrat who voted against the budget, explaining in a statement he had pledged to his constituents to vote against the transfer tax. Sen. (Washington Daily News, NC)
State strikes budget deal Jul 29, 2007
John Snow of Cherokee County. Snow had said he opposed including the land transfer tax in the budget. (News & Observer)
Festive mood at Chrysler fades fast Jul 26, 2007
Can it be only two months since Cerberus Chairman John Snow and Chrysler Chief Executive Officer Tom LaSorda gave us their best Louis Armstrong impressions, warbling about what a wonderful world it will be for Chrysler under the nurturing wing of private ownership. Advertisement. (Detroit Free Press)
Chrysler buyout loan delayed but deal said on track Jul 26, 2007
Cerberus Chairman John Snow said earlier this month that the fund had not expected to face the kind of tougher fuel economy standards recently passed by the U.S. Senate. Sources have told Reuters that Cerberus will undertake a sweeping review of future rear-wheel drive vehicles as it takes over Chrysler in a bid to improve the fuel economy of the automaker's line-up. (San Diego Union-Tribune -- Business)
Business notebook Jul 19, 2007
Endorsement: Cerberus Capital Management LP chairman John Snow backed a Senate proposal to more than double taxes on publicly traded hedge-fund and private-equity firms. Licensing deal: Infogrames Entertainment SA reached an agreement with for the Pawtucket, R.I., company to gain extended rights to the Dungeons & Dragons franchise. (Boston Globe)
Snow: Automakers Open to Fuel Efficiency Jul 19, 2007
"We're not the old automobile industry," said former Treasury Secretary John Snow, chairman of Cerberus Capital Management, in a speech at the National Press Club. "I know a lot of people feel that the auto industry has had its head in the sand that it's stonewalled for 30 years.". (ABC News -- Wire)
Chrysler cuts prices on 2008 minivans, adds features Jul 13, 2007
Cerberus Chairman John Snow has said Chrysler no longer will release quarterly financial data. Landry also said Chrysler dealers are submitting more requests to buy or sell dealerships, under a program to thin their ranks to increase efficiency and boost each operator's profitability. (AZCentral -- Business)
Chrysler eases away from deep incentives Jul 13, 2007
John Snow, chairman of Cerberus Capital Management, which owns Chrysler, has said the firm has no plans to sell the carmaker. (Carlos Osorio/Associated Press). (Boston Globe -- Business)
Cerberus Chief Says Jul 12, 2007
John Snow, the chairman of Cerberus Capital Management LP, yesterday acknowledged that investors have lost some of their appetite for debt at a time when the private-equity firm is trying to raise billions in financing for its planned purchase of Chrysler Group. Still, Mr. Snow said he expects the buyout group will be able to raise funds needed to take control of the U.S. auto maker. (Wall Street Journal)
Chrysler on track for deal with Cerberus: Zetsche Jul 12, 2007
His comments echoed remarks earlier on Wednesday by Cerberus Chairman John Snow who said the company was "confident" it had the financing to close the acquisition. "There are no 'ifs' in that statement" from Snow, said Zetsche. (ABC News -- Wire)
Snow: Cerberus to Make Chrysler Rebound Jul 12, 2007
Cerberus Chairman John Snow Says 'New Environment' Will Make Chrysler Profitable. Cerberus Capital Management LP Chairman, John Snow, addresses the Detroit Economic Club in Rochester, Mich ... Yet that's what Cerberus Chairman, former Treasury Secretary John Snow, repeatedly explained Wednesday during a daylong appearance near Detroit. (ABC News -- Wire)
Cerberus chief Snow backs Chrysler reform Jul 12, 2007
And Chrysler will continue following that plan with its current leadership intact, says John Snow, chairman of Cerberus and former Treasury secretary. In a speech to the Detroit Economic Club Wednesday, Snow said that he plans to give Chrysler CEO Tom LaSorda the advice and money needed to successfully implement Chrysler's restructuring plan. (USA Today -- Money)
Cerberus chairman says he has no plans to sell Chrysler Jul 12, 2007
Former Treasury Secretary John Snow, who is chairman of Cerberus Capital Management LP, said the U.S. auto industry is poised for a turnaround. We want to be there to help the turn and benefit our investors from the turn, he told the Detroit Economic Club. (San Diego Union-Tribune -- Business)
BUSINESS BRIEFS Jul 12, 2007
Refco case The court-appointed examiner reviewing Refco Inc.'s 2005 bank ruptcy said two law firms and two account ing firms could be sued for what he called their roles in the (New York Post -- Business)
Great Debate Jul 12, 2007
In contrast, former Treasury Secretary John Snow, now the chairman of private-equity giant Cerberus Capital Management, said increasing taxes on private-equity firms would just lead to less profit for their investors, which include pension funds and university endowments. "You always get less of anything that you tax," Snow said in an interview on CNBC yesterday. (New York Post -- Business)
Cerberus Capital Management Chairman the Honorable John Snow to Address the Detroit Economic Club Jul 4, 2007
DETROIT, July 3 /PRNewswire/ -- On Wednesday, July 11, 2007, the Detroit Economic Club (DEC) is pleased to host the Honorable John Snow, chairman, Cerberus Capital Management, L.C. The meeting will be held at noon at the Royal Park Hotel in Rochester, MI. Cerberus Capital Management is a leading private investment firm, which recently announced it has agreed to acquire Chrysler. Cerberus is an investor in a number of companies of local interest, including GMAC Financial Services. (PR Newswire)
Feds recognize area health-care crisis Jun 29, 2007
Chairman Pat Murphy said he will rely on John Snow Inc., the consulting firm retained to suggest ways to deal with the health-care crisis, to use the designation in the county's best interests. "It's certainly great news, and I don't want to play that down, but I don't know for sure that this means we'll have a rural clinic," Murphy said. (Durango Herald)
India on a re-discovery journey Jun 20, 2007
A master-class 7 for 73 from John Snow saved England at Lords; India ended 38 runs from victory with two wickets in hand. At Old Trafford, it was Indias turn to struggle as rain came to their rescue, finishing on 65 for 3 chasing a target of 420. (Indian Express)
