Three Heads, All of Them Firmly Planted Up Their Ass

I am referring to, of course, Cerberus Capital Management LLC, which is now showing signs of distress.

It appears that their plan to buy Chrysler for some beans, and then flip it for a profit has run into some snags, so the good folks named after the 3-headed dog that guards the gates of hell are experiencing some cash flow issues.

So, they are
placing limits on redemptions their hedge fund, because they had been forcing them to liquidate assets at bargain basement prices to generate the cash.

Additionally, one of the big roadblocks in the now completed transition of GMAC into a bank holding company was the feeling that bond holders were being asked to take a haircut while Cerberus wasn't.

While that has now been resolved, it is unclear what, if anything Cerberus put into the transition.

Additionally, it now appears that they are attempting to cut a deal that will allow them to simply walk away from Chrysler.

There are increasing indications that Cerberus would like to simply dump Chrysler on its creditors, because with flipping an increasing distant option, they simply want to flee.