Nardelli, what are they thinking?

Why would Cerberus pick an incompetent like Bob Nardelli to run Chrysler?
Obviously none of the Cerberus people have stepped foot in a Home Depot
lately. Home Depots are much worse then they were before his tenure.

The man is the poster boy for executive excess, hardly the person to ask
the unions for any kind of give backs. His record at Home Depot shows
that he's not the person to take Chrysler in any kind of radical
direction. I've driven Chrysler's for 20 years, I was hopeful that
private management would allow Chrysler to get back to there former
position as an innovator but the Nardelli hiring looks like Cerberus is
only interested in slashing costs and breaking the company up into to
pieces.

 

They don't call the firm Cerberus for nothing...

"Cerberus was the watchdog of the Greek underworld and faithful servant
to Hades. He was charged with the job of devouring anyone trying to
return to the land of the living and refused entrance to living humans."

 

Exactly what I was thinking. Way too bad.

Richard

 

Chrysler is screwed!

 

Don't forget outsourcing to China. Ever notice how many Home Depot
"house brand" items are now made in China? Almost as bad as Walmart or
Target.

 

Unfortunately, corporate America is like major league sports. Even if
a coach is let go because he has a losing season, another team picks
him up. It's a closed fraternity. A part of the problem stems from
having interlocking boards of directors -- the same people on the
boards of many other companies.

If they really wanted to bring in an outsider, why not Jack Welch?

 

Yeah, it just blows my mind that they'd be that stupid. They could surely
afford to hire somebody a lot cheaper who hasn't been totally discredited
yet.

The bottom line is, they are all on the side of CEO's. Not just chrysler's
board, but all of them.. Boards of Directors are always composed of CEO's
of other companies.

It'll be interesting to see if some stockholders in some company (any
company) are able to get out from under these guys some day. A lot of
times, one officer will get paid more money than the whole company
generates. The stockholders could steal all that money from the CEO, and
maybe keep it.