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
Sunday, July 29, 2007
About The Business Bad Boys
A little history behind the Business Bad Boys and this blog:
Jackson was a graduate of retail and fast-food hell, learning first hand from bad managers with bad habits how not to run a business, and always wondered if the CEOs actually had a clue as to how the workers in the trenches were actually executing there orders.
Christopher became interested in the business of broadcasting after trying career in radio, and learning that while DJs can get lots of fame and comps, they don't get paid all that well. His ability to think business freaked out most of the DJs, who only worried when their paycheck was late.
Fate intervened in college, where we two misfits of business thinking were partnered to complete a case study review for a business ethics class. Also put into this group was a varsity cheerleader, the campus quad preacher, and some guy who had weeks ago just stopped showing up to class. Since none of the other team members showed up to work on the project, the two of us got a chance to get to know each other, and realized they we had a lot in common in regards to our views of how much nonsense our professors seemed to be spouting. We also made it possible for the cheerleader, the preacher, and that missing guy to pass the ethics class (Jackson got a date with the cheerleader, and the missing guy was able to score Christopher some 'party favors' from time to time).
After graduation, we ended up at the same marketing firm, and still wanted to drop knowledge on the business world the way we saw it, even if we rarely saw it eye-to-eye. And after more than a few iterations and fail partnerships with others, the two of us are back at it again, this time on this blog. Posting will being within a few days, and you can be free to reach us at bizbadboys@sbcglobal.net.
TRUMP UNIVERSITY
Jackson was a graduate of retail and fast-food hell, learning first hand from bad managers with bad habits how not to run a business, and always wondered if the CEOs actually had a clue as to how the workers in the trenches were actually executing there orders.
Christopher became interested in the business of broadcasting after trying career in radio, and learning that while DJs can get lots of fame and comps, they don't get paid all that well. His ability to think business freaked out most of the DJs, who only worried when their paycheck was late.
Fate intervened in college, where we two misfits of business thinking were partnered to complete a case study review for a business ethics class. Also put into this group was a varsity cheerleader, the campus quad preacher, and some guy who had weeks ago just stopped showing up to class. Since none of the other team members showed up to work on the project, the two of us got a chance to get to know each other, and realized they we had a lot in common in regards to our views of how much nonsense our professors seemed to be spouting. We also made it possible for the cheerleader, the preacher, and that missing guy to pass the ethics class (Jackson got a date with the cheerleader, and the missing guy was able to score Christopher some 'party favors' from time to time).
After graduation, we ended up at the same marketing firm, and still wanted to drop knowledge on the business world the way we saw it, even if we rarely saw it eye-to-eye. And after more than a few iterations and fail partnerships with others, the two of us are back at it again, this time on this blog. Posting will being within a few days, and you can be free to reach us at bizbadboys@sbcglobal.net.
TRUMP UNIVERSITY
