cerberus

The carmaker’s owner, Cerberus, has used its deep connections to shape the debate over the foundering automakers to its advantage.

Chrysler said Friday it will cut 25 percent of its salaried work force starting next month, as reports said talks between Chrysler's owner Cerberus and General Motors over a sale of the automaker are intensifying.

After running Chrysler LLC for a year, Cerberus Capital Management LP must be wondering if its mascot, the three-headed dog that guards the gates of hell, is protecting it from the underworld or leading it into the flames.