Discuss Detroit » Archives - July 2007 » New Chrysler CEO « Previous Next »
Top of pageBottom of page

Pam
Member
Username: Pam

Post Number: 2231
Registered: 11-2005
Posted on Monday, August 06, 2007 - 9:46 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

http://www.freep.com/apps/pbcs .dll/article?AID=/20070806/BUS INESS01/70806015
Top of pageBottom of page

Quozl
Member
Username: Quozl

Post Number: 1143
Registered: 07-2005
Posted on Monday, August 06, 2007 - 9:58 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

The above link contains:

LaSorda welcomes new boss Nardelli to Chrysler

August 6, 2007
By TIM HIGGINS
FREE PRESS BUSINESS WRITER

Tom LaSorda, now Chrysler's No. 2 executive under new owner Cerberus Capital Management, is welcoming Robert Nardelli to the Auburn Hills automaker.

“We are excited to welcome Bob to the Chrysler family,” LaSorda said in a statement issued late Sunday night. "Bob has a proven track record of success and an unwavering focus on performance, and brings deep operational experience and a broad industry background to Chrysler. His background in operations will provide valuable knowledge as we continue Chrysler's turnaround."

Cerberus, a New York private equity firm, finalized its deal to acquire 80.1% of Chrysler from DaimlerChrysler AG last Friday. Today, Chrysler plans to hold a celebration of the new ownership and many employees had wondered what kind of surprises would be unveiled.

Nardelli being named as the CEO and chairman wasn't expected.

After the deal was announced in May, Cerberus officials had indicated that Chrysler's then-CEO and president LaSorda would stay in his role. As part of the new shakeup, LaSorda continues to be Chrysler president and becomes vice chairman. He reports to Nardelli.

Cerberus Chairman John Snow said publicly several times that the firm was behind LaSorda's plans to restructure the automaker, which lost $680 million last year and $2 billion in the first quarter of this year.

"I am very excited to be part of a team focused on re-establishing Chrysler as a standalone industry leader, with a renewed focus on meeting the needs of customers," Nardelli said in a statement. "Chrysler has many deeply talented and dedicated people, and I am confident that together we can continue the momentum of Chrysler's recovery and return this great American icon to a path for global growth and competitiveness."

As part of the Chrysler shakeup, Eric Ridenour, the automaker's chief operating officer, is leaving the company. "Eric gave this company 23 years of great service and leadership," LaSorda said. "We wish him well in his new pursuits."

Much better unbiased report can be found here:
http://money.cnn.com/2007/08/0 5/news/companies/chryslernarde lli.fortune/
Top of pageBottom of page

Johnlodge
Member
Username: Johnlodge

Post Number: 1512
Registered: 10-2003
Posted on Monday, August 06, 2007 - 10:02 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)



Top of pageBottom of page

Cambrian
Member
Username: Cambrian

Post Number: 1408
Registered: 08-2006
Posted on Monday, August 06, 2007 - 10:12 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Great news! When he messes up here, Chrysler can pay him 300 million to quit like Home Depot did. That is for sure better then giving to the UAW people.
Top of pageBottom of page

Unclefrank
Member
Username: Unclefrank

Post Number: 72
Registered: 03-2006
Posted on Monday, August 06, 2007 - 11:36 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

If a SOB like LaSorda was considered too nice, this new guy should be a real terror. Good luck Chrysler!
Top of pageBottom of page

Jeduncan
Member
Username: Jeduncan

Post Number: 121
Registered: 11-2006
Posted on Monday, August 06, 2007 - 2:52 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

That man turned Home Depot into a shitty place to work.
Top of pageBottom of page

Gravitymachine
Member
Username: Gravitymachine

Post Number: 1759
Registered: 05-2005
Posted on Monday, August 06, 2007 - 3:27 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

without wolfgang berhardt in there, there is no hope for future automotive successes from chrysler.
Top of pageBottom of page

Rb336
Member
Username: Rb336

Post Number: 1017
Registered: 02-2007
Posted on Monday, August 06, 2007 - 3:28 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Shall we start the funeral dirges?
Top of pageBottom of page

Fury13
Member
Username: Fury13

Post Number: 1976
Registered: 10-2003
Posted on Monday, August 06, 2007 - 4:00 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

If Nardelli brings back the Plymouth brand, I'll back him 100 percent.
Top of pageBottom of page

Quinn
Member
Username: Quinn

Post Number: 1427
Registered: 01-2005
Posted on Monday, August 06, 2007 - 4:30 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Wasn't that guy fired from Home Depot with a $200 Million Golden Parachute? That's a crappy store...dark and dingy. All around bad service. How nice that he thought of himself though with that money when he left. (http://www.washingtonpost.com/ wp-dyn/content/article/2007/01 /15/AR2007011501263.html)

What qualifies him to lead Chrysler?
Top of pageBottom of page

Patrick
Member
Username: Patrick

Post Number: 4781
Registered: 10-2003
Posted on Monday, August 06, 2007 - 4:40 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

At first I read that he was a total failure, but he did bring in profits....while stepping on toes. He seems like a hard-nosed bean counter. I am giving him a chance before I shit-talk. jack Welch constantly praises him so it does say something. Of course, the invisible people on DY will say otherwise.
Top of pageBottom of page

Jazzstage
Member
Username: Jazzstage

Post Number: 12
Registered: 08-2007
Posted on Monday, August 06, 2007 - 4:46 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Interesting article on Leadership:

http://www.fastcompany.com/mag azine/117/column-made-to-stick .html

I'll keep an open mind on Nardelli for now
Top of pageBottom of page

Ccbatson
Member
Username: Ccbatson

Post Number: 1786
Registered: 11-2006
Posted on Monday, August 06, 2007 - 4:49 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Let's assume the folks at Cerebrus are making a good faith attempt and know what they are doing.
Top of pageBottom of page

Johnlodge
Member
Username: Johnlodge

Post Number: 1538
Registered: 10-2003
Posted on Monday, August 06, 2007 - 4:54 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

CEOs: Too much credit when things go right, too much blame when things go wrong, too much money either way.
Top of pageBottom of page

Cambrian
Member
Username: Cambrian

Post Number: 1413
Registered: 08-2006
Posted on Monday, August 06, 2007 - 4:57 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

I noticed the luxury of Cerebus being a private endeavor means no share holders, which means no disclosure of executive compensation. Can we expect to see more of this?
Top of pageBottom of page

Jazzstage
Member
Username: Jazzstage

Post Number: 13
Registered: 08-2007
Posted on Monday, August 06, 2007 - 5:05 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Cambrian - I would expect to see more. I think the passage of Sarbanes/Oxley may have played a role in why. I'm sure there are other factors as well.

http://www.soxlaw.com/
Top of pageBottom of page

Yvette248
Member
Username: Yvette248

Post Number: 807
Registered: 10-2006
Posted on Monday, August 06, 2007 - 5:13 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Amen Johnlodge. I will hold my opinion and wait with bated breath. The press conference this morning was a breath of fresh air from the staid, read-a-prepared-statement & walk away routine.
Top of pageBottom of page

Johnlodge
Member
Username: Johnlodge

Post Number: 1542
Registered: 10-2003
Posted on Monday, August 06, 2007 - 5:17 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

"I noticed the luxury of Cerebus being a private endeavor means no share holders"

Sometimes shareholders are a pain in the ass though, right? Always looking for the short term gains, not willing to see the big picture, the long term improvements, the stuff that really matters in business building? I'm sure not all the time, but sometimes it certainly seems that way.
Top of pageBottom of page

Cambrian
Member
Username: Cambrian

Post Number: 1415
Registered: 08-2006
Posted on Monday, August 06, 2007 - 5:26 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

You should see that film with James Garner; Barbarians at the Gate. There's a lot of parallels here.
Top of pageBottom of page

Unclefrank
Member
Username: Unclefrank

Post Number: 73
Registered: 03-2006
Posted on Monday, August 06, 2007 - 6:05 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Jack Welch is a first class turd. One of his buddies almost ran my company (EDS) into the ground. This guy should be a chip off the old block.
Top of pageBottom of page

Danny
Member
Username: Danny

Post Number: 6328
Registered: 02-2004
Posted on Monday, August 06, 2007 - 8:46 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

LaSorda WHAT!!!!!

Why a private company who was named after a 3 headed dog hire a guy who fixes houses and light bulbs and don't know jack about the global automobile market?

Sounds silly to me!
Top of pageBottom of page

Ccbatson
Member
Username: Ccbatson

Post Number: 1793
Registered: 11-2006
Posted on Monday, August 06, 2007 - 9:35 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Cambrian, the fatal flaw of comparing reality to fiction...zero credibility.

What is it anyone's business what a private (not publically traded) company pays it's employees?
Top of pageBottom of page

Bearinabox
Member
Username: Bearinabox

Post Number: 252
Registered: 04-2006
Posted on Monday, August 06, 2007 - 9:47 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

^^Chrysler's performance is closely related to that of this region as a whole. To me it seems logical for people who live and work here and would like to see the area thrive to take an interest in how the company is run.
Top of pageBottom of page

Ccbatson
Member
Username: Ccbatson

Post Number: 1812
Registered: 11-2006
Posted on Monday, August 06, 2007 - 10:59 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

A good sentiment, but not justification to defy the rule of law and demand something from a private company that is priviledged information.
Top of pageBottom of page

Bearinabox
Member
Username: Bearinabox

Post Number: 254
Registered: 04-2006
Posted on Tuesday, August 07, 2007 - 1:29 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

I must have missed the part of this thread where Cambrian "defied the rule of law" or demanded anything from anybody. The closest he came was commenting that there would be "no disclosure of executive compensation." Does he not have the right to make that factual statement?
Top of pageBottom of page

Cambrian
Member
Username: Cambrian

Post Number: 1418
Registered: 08-2006
Posted on Tuesday, August 07, 2007 - 9:57 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

I sense trouble the more I hear about this guy. He all ready got burned at Home Depot for being a pig. The cost of borrowing just jumped and Cerebus wants a return on thier investment much sooner now. I think we can expect to see a fire sale in Auburn Hills by the end of the year where a few poeple get to walk away with a cool couple a billion bux.
Top of pageBottom of page

Viziondetroit
Member
Username: Viziondetroit

Post Number: 1093
Registered: 11-2003
Posted on Tuesday, August 07, 2007 - 10:41 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

"^^Chrysler's performance is closely related to that of this region as a whole. To me it seems logical for people who live and work here and would like to see the area thrive to take an interest in how the company is run."

^^^^^
Let it go man.... it ain't gonna happen. It's a private company.... "WE" are too used to the publicly traded school of thought. Time to move on from that and sit and wait... when you open your personal finance books to companies who operate in your area so they can take an interest and see you thrive, it will happen :-D
Top of pageBottom of page

Lefty2
Member
Username: Lefty2

Post Number: 14
Registered: 07-2007
Posted on Wednesday, August 08, 2007 - 6:32 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

I hope they pay him in stock only so if Chrysler's stock tanks like Home Depot's did, the shareholders won't be holding a limp drive shaft:-)
(nice bundy pic JohnLodge)

Add Your Message Here
Posting is currently disabled in this topic. Contact your discussion moderator for more information.