Fake Steve R.I.P.

The news about Daniel Lyon is a tragedy that I can understand.

But Bob Nardelli?

If the Blackstone IPO wasn't enough to convince the market that private equity had reached a top, Cerberus deciding that Bob Nardelli is the best executive in America to revitalize Chrysler should remove all doubt.

At least Cereberus kicks things off with an eye towards efficiency:

the announcement serves double duty as both press release and punchline.

best

dk