Cerberus Chairman John Snow, a former U.S. treasury secretary, told a news conference in Germany that the New York-based private equity firm believes in Chrysler and wants to see the company recover.
"We think at this particular point in Chrysler's history, there may be opportunities in the private world, the world of private investment, that create more room for growth and expansion, that allow management to focus with greater intensity on the day-to-day business of producing better cars,"
Snow said that under Chrysler's leadership, the company's quality and productivity have risen and it has a variety of new products that will be well-received in the marketplace.
"We're going to support those initiatives and we're going to support your plans," he said.
