PS Elliott Management had also bought Chrysler during the credit crisis and politicians would not let it cut the dealer count and thus was forced to sell to FIAT.
Just my opinion, but I think funds like Singer's are mostly vulture in nature, and overall they are bad for the American/Global economy. (Breaking things that working just fine in order to make billions for themselves at the expense of the middle class wages/jobs/higher overall costs for consumers.)
These are very good general investing/trading lessons that we all can learn from and has no relation to his trading/investing style or method. Thank you OP for bringing it to our attention.