In March of 2007 I said that Magna buying Chrysler would be a good thing. And I specifically said that private equity would botch this up.
Magna knows the car parts industry through and through. Thus unlike other private equity companies there is a good chance that Chrysler would survive and prosper.
I did not think that private equity could manage Chrysler. I understood why Daimler sold to them, since only private equity is stupid enough to overpay. Though now private equity is crying, "Oh, Oh you sold us a dud…"