Business Bad Boys Blog
Monday, August 6, 2007
Bob Nardelli Picked To Lead Chrysler Turnaround
How is that Bob Nardelli gets a chance to become the CEO of Chrysler (now being managed by Cerberus Capital Management, L.P. After essentially getting dumped by DaimlerChrysler AG (NYSE:DCX)
Really folks, Nardelli has only been away from drill bits over at Home Depot (NYSE:HD) only 6-7 months, leaving under are huge cloud of suspicion and controversy. Nardelli became CEO in 2000, watched the stock price go way down while he collect a truly fat paycheck and one hell of a golden parachute for failing pretty miserably. That makes him the perfect choice to turn around the number 3 U.S. automaker.
Apparently, the fine people at Chrysler have a problem larger than loss of market share in the US auto market. It seems they have completely lost their minds. What exactly has Nardelli proven from his last job? That he can take a market leading in a bit of a slump and completely bury it into the ground? How exactly does that show he can turn around a failing company, with no experience in the industry?
Did he have experience in hardware stores? Had he ever been to a hardware store?
This isn't meant to be a 'one of us could do a hell of a lot better than this over paid ego' styled rant, but Jackson has run a cash register before. He's up-sold various suckers to shell out cash on useless warranties. Why not give Jackson a shot?
We get that it takes a lot to be a top level executive, and that there are so few that get to that level, its usually easier to recycle an old one than push the buttons needed to mold and grow a new one without the proper build-up (Jack Welsh taking over General Electric (NYSE:GE) and then finding his replacement is a pretty good example), but can't we recycle more successes that failure? If you're looking to make money in aluminum, why are you fooling with tin?
And if you're running a Junior Executive Program, Jackson was once 'Employee of the Month' three-months straight.
BAD BOY BET: Chrysler goes back to full American control, and is the first of the major US motors to be completely dismantled. Bob Nardelli gets (rightfully) accused of turning the car company into an international chop shop . . . and Jackson becomes the CEO at Limited Brands (NYSE:LTD) because his girl is a frequent shopper at Victoria's Secret Stores. That qualifies him to be CEO, right?
Find Latest Incentives at Edmunds.com
Really folks, Nardelli has only been away from drill bits over at Home Depot (NYSE:HD) only 6-7 months, leaving under are huge cloud of suspicion and controversy. Nardelli became CEO in 2000, watched the stock price go way down while he collect a truly fat paycheck and one hell of a golden parachute for failing pretty miserably. That makes him the perfect choice to turn around the number 3 U.S. automaker.
Apparently, the fine people at Chrysler have a problem larger than loss of market share in the US auto market. It seems they have completely lost their minds. What exactly has Nardelli proven from his last job? That he can take a market leading in a bit of a slump and completely bury it into the ground? How exactly does that show he can turn around a failing company, with no experience in the industry?
Did he have experience in hardware stores? Had he ever been to a hardware store?
This isn't meant to be a 'one of us could do a hell of a lot better than this over paid ego' styled rant, but Jackson has run a cash register before. He's up-sold various suckers to shell out cash on useless warranties. Why not give Jackson a shot?
We get that it takes a lot to be a top level executive, and that there are so few that get to that level, its usually easier to recycle an old one than push the buttons needed to mold and grow a new one without the proper build-up (Jack Welsh taking over General Electric (NYSE:GE) and then finding his replacement is a pretty good example), but can't we recycle more successes that failure? If you're looking to make money in aluminum, why are you fooling with tin?
And if you're running a Junior Executive Program, Jackson was once 'Employee of the Month' three-months straight.
BAD BOY BET: Chrysler goes back to full American control, and is the first of the major US motors to be completely dismantled. Bob Nardelli gets (rightfully) accused of turning the car company into an international chop shop . . . and Jackson becomes the CEO at Limited Brands (NYSE:LTD) because his girl is a frequent shopper at Victoria's Secret Stores. That qualifies him to be CEO, right?
Find Latest Incentives at Edmunds.com
Labels: CEO, golden parachutes
¶ 8:29 AM 0 Comments
