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Monday, August 06, 2007 2:01:44 AM
LOL! Chrysler Picks Ex-Home Depot Chief Nardelli to Lead Automaker
Ed: A 1:50AM LOL! When will they learn? Cripes, he is still pissed that Jeffrey took over at GE. Sort of reminds me of Chainsaw Al a bit. At any rate, good luck Chrysler - you's gonna need it!
Aug. 6 (Bloomberg) -- Chrysler LLC named former Home Depot Inc. Chief Executive Officer Robert Nardelli as CEO, demoting Tom LaSorda, as new owner Cerberus Capital Management LP takes control of the automaker.
Nardelli, 59, a Cerberus adviser, also will become chairman, Auburn Hills, Michigan-based Chrysler said yesterday in a statement. LaSorda becomes president, while Chief Operating Officer Eric Ridenour will leave Chrysler and won't be replaced.
The leadership shift puts Cerberus's stamp on Chrysler as it begins operating the third-largest U.S.-based automaker as a private company. Nardelli will have to lead Chrysler back to profit while battling Asian rivals led by Toyota Motor Corp. that are grabbing U.S. sales and market share.
``This is a bit of a surprise,' David Healy, a Burnham Securities analyst in Sierra Vista, Arizona, said in an interview. ``But I think it shows that Cerberus is going to be tough because of Nardelli's tough reputation.'
... rest of the story:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aSG.fiyUpoew&refer=home
iCanyouhearmenow?OfcoursenotIamusinganiPhoneontheAT&Tnetwork!
Ed: A 1:50AM LOL! When will they learn? Cripes, he is still pissed that Jeffrey took over at GE. Sort of reminds me of Chainsaw Al a bit. At any rate, good luck Chrysler - you's gonna need it!
Aug. 6 (Bloomberg) -- Chrysler LLC named former Home Depot Inc. Chief Executive Officer Robert Nardelli as CEO, demoting Tom LaSorda, as new owner Cerberus Capital Management LP takes control of the automaker.
Nardelli, 59, a Cerberus adviser, also will become chairman, Auburn Hills, Michigan-based Chrysler said yesterday in a statement. LaSorda becomes president, while Chief Operating Officer Eric Ridenour will leave Chrysler and won't be replaced.
The leadership shift puts Cerberus's stamp on Chrysler as it begins operating the third-largest U.S.-based automaker as a private company. Nardelli will have to lead Chrysler back to profit while battling Asian rivals led by Toyota Motor Corp. that are grabbing U.S. sales and market share.
``This is a bit of a surprise,' David Healy, a Burnham Securities analyst in Sierra Vista, Arizona, said in an interview. ``But I think it shows that Cerberus is going to be tough because of Nardelli's tough reputation.'
... rest of the story:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aSG.fiyUpoew&refer=home
iCanyouhearmenow?OfcoursenotIamusinganiPhoneontheAT&Tnetwork!
"When you have to shoot, shoot. Don't talk."
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"An umbrella with holes is better than no umbrella at all."
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