Here We Go Again!!

It will be interesting. They kept the German guy, Deiter or Zeiter something as the CEO then dumped him after three days. It gets cold up there in the world of $100million salaries.
 
When I heard that Nardelli was selected as CEO I felt sorry for the workers at Chrysler. My guess is that the Hedge fund will use Nardelli as "the bad guy" to cut costs (read: lay off people and cut benefits), then fire him and bring in a "good guy" to run the place.

I wonder why they didn't get "Chainsaw Al" Dunlap (of Sunbeam fame) to be CEO. Would have been about the same.

Mike

[added rant] I worked in a high tech company that had problems and the board brought in a "turnaround specialist" as CEO. What an idiot! The guy knew NOTHING about the business. He had a motto "Decisions through Data". When someone would make a presentation to him, he'd pick and pick until he found something that the presenter didn't know. Then he'd loudly, publicly, and personally berate the person making the presentation. Soon, no one would make a presentation to that guy. So all new ideas ceased, and all reporting of any problems ceased. When a company decides to build a new product, a lot of the decisions are made on "faith". You cannot know exactly how well it's going to be received by the customers, or what competitors will be doing at that time. So this turnaround guy didn't make any mistakes, but he didn't bring any new products to market either. The company was eventually sold to a larger company.
 
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It makes you wonder

when are these big dollar thinkers going to learn to promote from within. It takes more than an MBA and an axe to run a company, IMO.
 
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