Gisela Feinberg ?

I have done this site especially for Gisela Feinberg
in order to visit thishousewillexist.org

Gisela is wife of Steve Feinberg (American businessman active in the field of private equity.
He is the founder and head of Cerberus Capital )

Sorry for my poor english translation.


Cerberus Capital Management is an investment fund management company with headquarters in New York City, founded in 1992 by Stephen Feinberg. It invests in companies and sold them on to a restructuring. Feinberg was listed in 1999 by Fortune as one of the 40 richest Americans under 40. Since 2006, the former U.S. Treasury Secretary John W. Snow CEO of the financial funds. To the board also includes former U.S. Vice President Dan Quayle.

When naming the Feinberg was the mythical beast Cerberus in Greek mythology inspired, guarding the entry and exit of Hades. He is said to have liked the idea that an animal's head was always awake, as his business should always watch over customers' investments

Shops

So far, Cerberus invested $ 25 billion dollars worldwide in more than 300 companies.
In the United States [change]

In December 2004, Cerberus acquired for $ 82,500,000 from Bayer some parts of the company who formed the new drug company, Talecris. The company today reported sales of $ 1.5 billion [2].

Cerberus took over as part of a consortium led by him, among others, the U.S. automaker General Motors, the majority of the subsidiary GMAC (formerly General Motors Acceptance Corporation) [3].

On 3 August 2007 Cerberus bought for 5.5 billion euros from 80.1% of DaimlerChrysler's Chrysler Group, which created the Chrysler LLC. The former parent company DaimlerChrysler, which will be renamed Daimler AG, retained a 19.9 percent minority stake in Chrysler. [4] These were 19.9% ??in late April 2009, bought by Cerberus, just before the bankruptcy of Chrysler. Meanwhile, Cerberus is rising now completely out at Chrysler, and Chrysler will be taken in the future for a large part of Fiat [5].

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In Germany

In 2004 the company acquired by Deutsche Bank, based in Wilhelmshaven housing association JADE Real Estate Management GmbH, a portfolio of 7,500 rental properties. In the same year was the Ströer Out-of-Home Media AG for around 400 million € with the help of the Cerberus takeover in 1922 founded the German Association of Towns Medien GmbH (DSM). In addition, Cerberus took over along with the Whitehall Funds at Goldman Sachs in 2004, currently the largest private real estate company in Berlin, the non-profit housing and housing association Berlin mbH (GSW).

Early 2005, Cerberus bought the bankrupt automotive supplier Peguform time with approximately 7,800 employees.

On 10 November 2005, the company by the union holding BGAG (holding company of the trade unions) the BauBeCon group in Hannover (formerly "New home in Lower Saxony"), with around 20,000 apartments and more, held by subsidiaries of the union holding BGAG about 2,850 residential units. The purchase price was not disclosed, it is estimated to be around one billion euros.

In April 2006, Cerberus acquired by a private person with a portfolio of 3,000 apartments in the Ruhr area to the main offices in Bochum, Essen, Dortmund and Gelsenkirchen.

On 18 December 2006 bought Cerberus a larger package of properties (37 properties) of the GGI Society for Commercial Properties, an equity investment of BGAG - including ten union houses in the new Länder (including Berlin, Dresden, Leipzig, Zwickau, Bautzen, Magdeburg, Rostock, Jena and Suhl) and the Verdi trade union headquarters in Hanover. The purchase price was not disclosed.

On 20 June 2007 took Cerberus Torex Retail. The acquisition price was £ 204.4 million. Torex Retail is Europe's largest supplier of software solutions for retailers in Europe.

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In Austria

On 14 Cerberus bought in December 2006 for around 3.2 billion euros from the Austrian Trade Union Federation Austrian Trade Union Federation after the uncovering of the Refco scandal, turmoil in troubled banks BAWAG PSK. Besides Cerberus also participated Generali, Wuestenrot, the Austrian Post and an investor group led by the industrialist Androsch in buying. The goal is to install the BAWAG as European head of Cerberus.

In the Supervisory Board of BAWAG P.S.K. will move to finalize the acquisition by the consortium led by U.S. fund Cerberus new minds: The Cerberus boss and former U.S. Treasury Secretary John Snow, the Austrian industrialist Androsch, Wolfgang Radlegger Wüstenrot, a representative of the Generali and a representative Austrian Post will join the supervisory board, announced the former BAWAG boss Ewald Nowotny to PSC.

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Capital is a term that is used differently in economics, sociology, but also in everyday language.

The notion of "capital" is old and comes from the development of livestock farming in the Neolithic period. The word itself is of Latin origin (for caput "head"), so today: The sheep flock has about a hundred heads. The capital in the modern sense is from the Latin summa capitalis, the principal sum back (where the principal sum is again a literal translation from Latin).

Capital in economics

In capital in the economic sense, one can understand all involved in the generation of production, ie the stock of production equipment that can be used for goods and services production. This stock is also called capital stock and includes equipment such as tools, machinery, equipment, etc, that is goods that were produced in a previous production process.

The capital in this sense is the third factor of production alongside labor and land.

But the term is used not only for those directly consumed goods (physical capital), but also for money because money gives power over this real capital. The money or monetary capital thus includes financial resources available for the renewal and extension of the capital stock available. It does not matter from which source, such as savings, corporate profits or capital such as loans made available for short term for the formation of real capital is just financing, but not necessarily a preceding save (net investment). In equilibrium, however, must match planned real capital formation and savings.

In addition to the real and monetary capital or to the training and education based on performance potential of the workforce or human capital is also relevant. This term is explained by the formation of these skills to high financial costs and the established earning power. It is assumed that human capital is deliberately produced by the use of resources such as learning and training is, but also "learning by doing" assumed. In this case, the human capital that is produced as a byproduct in the production process.

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The formation of capital increases the productivity of other production factors and thus leads to higher yields, which in turn contribute to further capital accumulation, but also a prerequisite for better wages is the labor factor.

The capital has - like other assets - the property of scarcity. From the property of the scarcity of capital interest arises. The rate of interest is the use fee of the capital. The scarcity of capital can be of natural origin or produced synthetically. The capital will be disclosed only for a fee, interest on capital.

Since economic capital (see below) property, it can be concentrated at the market on the supply side in a few hands or in a single hand ("concentration of capital") is then so than oligopoly or even monopoly. This favorable position can be considered as an additional "capital".
Capital in the National Accounts (SNA)

In the national accounts as a rule by wealth, little mention of capital (eg, net worth, fixed assets, while capital stock, gross and net financial assets). We examine aggregate data on "capital", one must therefore look for in the national accounts data for "fortune."

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Capital in the business administration

Capital has been defined as the central notion of stocks. In business administration, there is another classic and a narrower modern concept of capital. Both versions have their own concept of authority, but the practical consequences of the concept of small differences.

Classical economic concept of capital

The first in its early stages of the accounting doctrine emerged economics draws heavily on balance sheets. One of the fathers of the German Basic Business Administration Schmalenbach provides capital in the abstract value of the total balance of business as a classical concept of capital. The basic structure of a balance sheet can be presented in account form. Since that figure is on the assets and liabilities equal (assets = capital), are understood as the positions on both sides of capital to different divisions.

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On the asset side is found as a component-based equivalent of the corporate capital's assets, which indicates what specific forms found in the capital in the enterprise use has (money). The capacity is the total of all assets used in the company, and funds are divided into fixed and current assets. The capital assets consist of the goods that the company intended to serve the longer duration and the current assets are the assets that are received usually within a short period in the production or will be implemented (inventories, receivables, securities, cash).

On the liabilities side, one finds the capital as the sum of all of the funds made available to investors, ie it indicates where the money came for the assets (sources of funds). Usually it is divided according to its origin in equity (equity) and debt (creditor capital). The distinction stems from the differences in legal status of regulated equity and debt capital. Equity includes those funds that are managed by the owners of a company applied to the financing or left as economic profit in the company (self-financing). The debt, however, is the name of the reported debts of the company (liabilities and provisions of a binding nature) against third parties, resulting either in law or are incurred.

Subtracting from the total capital and assets the debt (= debt), then you get the equity or net worth. The fact that capital assets and represent different points of view the same event, also comes in the language expressed by tied-up capital or assets or betriebsnotwendigem capital or assets, etc. is spoken.

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Monetary business management concept of capital

In the modern cash economy, capital is usually introduced in the form of cash into the company, but you can do without the medium of money and bring in the capital in the classical sense, in the form of claims or in the form of any other asset. This is on - mentally broken down - the supply of capital on the one hand and tying up capital in a particular financial asset on the other hand, in the same process. Model can then simply as capital funds which would be used in the company. The monetary concept of capital is tighter than the classic, because it refers to a certain assets and liabilities, the funds concerned and not all the wealth. It is particularly suitable for the discussion of liquidity issues.

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Marx's definition of capital

General

According to Karl Marx's Capital is a money amount (G), which is invested for a higher sum (G ') recover. Capital is not used for consumption or hoarding, but invested to increase return. Thus making the capital through a circuit composed of a circulation process and a production process (both in the Marxian sense). The capital increase is possible through the purchase of labor power. In the production process results in a value that is greater, the longer the workers work. The worker is paid only part of the resulting value as a reward. What comes in addition to value retained by the capitalist as surplus value (labor theory of value).

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Interest-bearing capital

Interest-bearing capital, in contrast to industrial and commercial capital (functioning capital)

Industrial and commercial capital, which Marx sums up as opposed to interest-bearing capital as "acting principal" are themselves part of the circulation of capital, part of the reproduction process of capital. The interest-bearing capital, however, differs from these forms of capital, since capital is considered capital goods that are bought and sold. The price of this material is of interest. The use value of interest-bearing capital is the profit that it can give its purchaser. [4] The interest is part of the production process in the creation of added value.

fictitious capital

The general rate of profit is emerging, a prevailing interest rate. Regular income may at that rate "capitalized" (see capital value). It is calculated that generates capital for this prevailing interest rate the same income stream. This capital is not directly "real capital" to, eg government bonds often in companies, there are indeed real capital, but the value is as shares or corporate bonds only in a loose relationship to the real capital of the Company (the production). This capital is used by Marx called "fictitious capital" that exists alongside the real capital. Marx also mentions the view of some contemporary economists that wages can also be capitalized as an income stream. It can be calculated a net present value that would cause the prevailing wage rate to a corresponding income stream. Marx criticized this approach, after which the workers would also be a kind of capitalist.
Tendencies of capital

Key trends in the capital are at the Marx

Centralization and the
Business concentration

The financial capital in 1920 published by Rudolf Hilferding in Finance Capital, 1910 were investigated.

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Capital concepts in sociology

Capital is not only a term used in economics and in everyday language the term used to money or material wealth, which is mostly intended for the circulation of goods. But in the multi-dimensional cultural sociology of Pierre Bourdieu, there are several forms of capital. He believes that the exchange of goods was only one type among several possible forms of social exchange. As the capital it generally means the resources that people want to achieve their goals, so for the conditions that they bring to the fight in the social fields for their position in social space. He therefore called the following types of capital: economic capital, cultural capital, social capital and symbolic capital.

Economic capital is Bourdieu to material wealth, eg the possession of money, productive assets, shares and property which is institutionalized, for example, through property rights. What one sees in the traditional sense under capital also. Bourdieu believes that economic capital in today still plays an important role, political and social power is also dependent on other influences. Because economic capital can not alone guarantee a position of power any more, only in connection with the two other forms of capital (social and cultural capital) that can be exercised real power.

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Bourdieu's cultural capital is particularly important. For him it is that capital, which has over a man because of his formal education, so he understands this term in particular human capital. The cultural capital is inherited by family tradition, is thus passed on within a family to the children. With this, a certain habit is connected. Of course, the "property" depends on cultural capital and economic capital, as, for example, education must be financed somehow. Bourdieu distinguishes between different forms of cultural capital:

1. Incorporated cultural capital: With incorporation, the internalization of cultural capital meant, The appropriation of cultural capital in this case, a process that is enrolled in the arts in the body. Thus, they are cultural skills, as well as forms of knowledge that are physically bound, ie education. The time factor plays an important role, since the incorporation, which is to be accomplished by any individual to again and again, time needed. Since not every family, for example, may invest as much in their children's education and promoting this form of capital social inequalities.

2. Objectified cultural capital: According to Bourdieu are meant with objectified cultural capital cultural goods, such as paintings or books. The acquisition of such cultural property is of course strongly linked to the economic capital. For example, the purchase of a painting is required economic capital, but the causes first only a change of ownership. Only when one understands the true meaning and the meaning of this painting, one can speak of objectified cultural capital.

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3. Institutionalized cultural capital: the institutionalization of cultural capital exists in the form of academic titles and educational certificates, such as middle school, high school, university degree (diploma, master ...). "The academic title is a testament to cultural competence, which grants its holder a legal permanent and guaranteed conventional value" (Bourdieu, 1983). Institutionalization through the academic title is closely tied economic capital. During the period of training will have to scrap a lot of economic capital (and time) invested, but after acquiring an education track can also transform this cultural capital into economic capital, as others to expect higher incomes.

The third form of capital, which Bourdieu is introduced, the social capital. Bourdieu thinks it can rely on the relationships an individual. This means that a permanent network, which consists of more or less institutionalized relationships with other individuals exploit can. Thus, the social capital of a resource that is based on membership of a group and individuals with access to the properties of the society and social life, such as aid, support, recognition. Social capital is purely intangible, symbolic, so that Bourdieu refers to this form of capital as symbolic capital. With the sociological concept of social capital referred to Pierre Bourdieu (1983), the totality of current and potential resources associated with participation in the network of social relations of mutual familiarity and recognition. In contrast to human capital, social capital relates not to individuals per se, but on the relationships between them. The concept of social capital has been discussed a lot since then, the most important contributors are Robert D. Putnam (1993, 2000), James S. Coleman (1987) and Patrick Hunout (2003-2004).

The symbolic capital is generally a the other three forms of capital, parent resource. It comes about through social recognition and acts as a prestige or reputation. The institutionalized cultural capital in the form of educational titles is always symbolic capital, as it is accepted by the other individuals of the society. Social capital is always symbolic capital, since it is dependent on recognition in order to be used as a means of power. The symbolic capital gives credit to an individual in the broadest sense, to one entitled under the membership of a particular group. Owners of symbolic capital and prestige thus enjoy a certain prestige that.

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According to Bourdieu, the various forms of capital are mutually convertible and transferable.

Further, not influenced by Bourdieu forms of capital (values ??as a result of increasing uncertainty) are in information and links:

Intellectual capital: the sum of what a person or company knows how to use his knowledge and how quickly you can acquire new knowledge
human capital: interpersonal relations
structural capital: all the systems, procedures and strategies that have emerged through experience

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