Posts Tagged 'Chrysler'

Nardelli Works His Magic Again

Today, Bob Nardelli, CEO of Chrysler, announced he would leave the company after Chrysler completed its bankruptcy.  Now, you may sayit’s not his fault the company went under.  It’s been a really tough economy and he inherited a tough situation.  That’s true but if the economy in 4 years is worse than it is today, will people say well President Obama inherited a bad situation?  No, he’ll be on the hook.  Nardelli is on the hook. 

Nardelli’s track record isn’t that great after this latest catastrophe.  Before taking over as CEO of Chrysler, Nardelli was the CEO of Home Depot.  He took over at Home Depot in December, 2000.  During his tenure, Nardelli practically ran the company into the ground and left that company in January 2007 (see stock performance).  But, he didn’t leave Home Depot empty handed.  He walked away with $210 million, seven times more than the employees were to get that gave good customer service.  I’m not sure if you’ve been in a Home Depot lately but I’m sure they haven’t paid any money out with their horrible service.

How much will Nardelli get for this latest venture?  I doubt he’ll get the golden parachute he got last time.  He’s on quite a roll though isn’t he.  I sure hope he doesn’t take over for Steve Jobs at Apple@#$%>?

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November 2017
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