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peHUB Second Opinion 4.1

Happy April Fool’s Day!

Also, Happy Financial Fools Day: Protest reports from the G20 convention, from Reuters.

And From The Front Lines: A photo that shows the ratio of press to protesters. (DB)

Meanwhile: He-Man and “Postman Pat” are being rescued by private equity firm GTCR. Huzzah. (Dealzone)

“Hubris” Interesting facts from this NY Times article on Cerberus’ Investment in Chrysler:

  • It’s co-investors have lost four times as much money in aggregate as Cerberus.
  • Cerberus put in only about one-fifth of the capital for Chrysler and GMAC, but was in charge of all of the major decision making.
  • A third of Cerberus’ co-investors doubled down on GMAC in December.
  • There’s also the news from yesterday that the firm will use a new vehicle to meet redemption requests. How does that work exactly? (Bloomberg)

Paul A. Eisenstein: Why doesn’t Chrysler, or the rest of the auto industry, ever learn from its mistakes? (Daily Beast)

Did You Know: There was such a thing as “art banking?” If you didn’t, carry on. If you did, know that UBS has cut its practice. (Crain’s NY)

On The Application Of Surveys: Felix Salmon was not impressed by a recent AlixPartners survey on consumer spending. (Reuters)

Speaking of Surveys: Here’s how some investors feel about asset allocation to alternatives in the wake of Madoff, gates, regulations, and the market outlook. (Quinnipiac University)

Creativity: How KKR is slashing debt. (Deal Journal)

India: Wilbur Ross is looking to buy Satyam. (BusinessWeek)