Stowell Case Study 10: Cerberus and the Auto Industry (1) What type of fund made the first bid for GMAC in 2005? What type of fund did the second bid come from? (2) What types of funds stepped in to rescue auto parts suppliers like Delphi? (3) The goal was to separate the profitable GMAC and Chrysler Financial credit companies from their drowning parents. Why did this ultimately not work? (4) Who eventually stepped in to bail out GM and Chrysler? (5) Who benefited most from the bailout: the bank and hedge fund creditors, or the UAW union? (6) The U.S. auto industry has faced increasing costs and declining market share for years. Similar to public unions in states like California and New Jersey, auto unions have bid up salary and benefits to unsustainable levels. After being given a second chance, do you think GM and Chrysler will survive