Bob Nardelli is the new Chrysler CEO (former Home Depot CEO)
08-06-07 | 05:17 PM
#1
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From: Massachusetts
Bob Nardelli is the new Chrysler CEO (former Home Depot CEO)
http://business.guardian.co.uk/story/0,,2142577,00.html
After pretty much ruining The Home Depot, Chrysler gives Nardelli the top job at Chrysler?? Unbelievable.
As an employee at HD, I saw all our benefits go out the door as soon as Nardelli took over. He doesn't care about the workers and only worries about how to operate in the cheapest way possible.
I feel bad for Chrysler workers. They need to prepare for severe cuts.
After pretty much ruining The Home Depot, Chrysler gives Nardelli the top job at Chrysler?? Unbelievable.
As an employee at HD, I saw all our benefits go out the door as soon as Nardelli took over. He doesn't care about the workers and only worries about how to operate in the cheapest way possible.
I feel bad for Chrysler workers. They need to prepare for severe cuts.
08-06-07 | 05:55 PM
#3
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I heard nothing but bad things about him during a previous job where we had a business relationship with HD. I was also constantly amazed at the compensation package he was able to set himself up with.This is sad from an executive front but hopefully he realizes his automotive shortcomings and promotes the right people into the positions around him. Unlikely, but I can hope.
08-07-07 | 06:32 AM
#6
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I heard nothing but bad things about him during a previous job where we had a business relationship with HD. I was also constantly amazed at the compensation package he was able to set himself up with.This is sad from an executive front but hopefully he realizes his automotive shortcomings and promotes the right people into the positions around him. Unlikely, but I can hope.
08-07-07 | 07:21 AM
#7
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From: Virginia/D.C. suburbs
Look what happened at GM, for example, when "Car Guy" Bob Lutz came in....not only a car enthusiast but a ex-Top Gun Marine fighter pilot as well.
Saint Bob was going to be the company's miracle. Yes, you got some interesting new products like the Pontiac Solstice and Saturn Sky, the vast improvement of the Corvette C6 to a world-status car, and an improvement in the company's deep financial hole, but it has also cost Saturn its unique position and status in the auto industry...it is just another GM division now, Opel-centered, and GM, in cost-cutting, lost its status to Toyota as the world's #1 manufacturer. And many of GM's vehicles, with a couple of new exceptions, STILL have EL Cheapo plastic interiors, with a coat of glitz on them to try and make them look classy on the surface.
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08-07-07 | 07:30 AM
#8
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Joined: Jun 2005
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From: MA
You can buy a massive stable of exotics with that.
Edit : You can add in his last year's salary of $38 million and his guaranteed
yearly $3 million and what you have is monumental greed.
Last edited by marshmallo; 08-07-07 at 07:36 AM.
08-07-07 | 07:39 AM
#9
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That may or may not work against the company, though. He will also be coming into his new job without a lot of pre-conceived ideas about how this or that should be done....maybe he will have an open mind.
Look what happened at GM, for example, when "Car Guy" Bob Lutz came in....not only a car enthusiast but a ex-Top Gun Marine fighter pilot as well.
Saint Bob was going to be the company's miracle. Yes, you got some interesting new products like the Pontiac Solstice and Saturn Sky, the vast improvement of the Corvette C6 to a world-status car, and an improvement in the company's deep financial hole, but it has also cost Saturn its unique position and status in the auto industry...it is just another GM division now, Opel-centered, and GM, in cost-cutting, lost its status to Toyota as the world's #1 manufacturer. And many of GM's vehicles, with a couple of new exceptions, STILL have EL Cheapo plastic interiors, with a coat of glitz on them to try and make them look classy on the surface.
Look what happened at GM, for example, when "Car Guy" Bob Lutz came in....not only a car enthusiast but a ex-Top Gun Marine fighter pilot as well.
Saint Bob was going to be the company's miracle. Yes, you got some interesting new products like the Pontiac Solstice and Saturn Sky, the vast improvement of the Corvette C6 to a world-status car, and an improvement in the company's deep financial hole, but it has also cost Saturn its unique position and status in the auto industry...it is just another GM division now, Opel-centered, and GM, in cost-cutting, lost its status to Toyota as the world's #1 manufacturer. And many of GM's vehicles, with a couple of new exceptions, STILL have EL Cheapo plastic interiors, with a coat of glitz on them to try and make them look classy on the surface.
08-07-07 | 11:07 AM
#10
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He was at HD from 2000-2007 roughly?
Click Annual Data and Income Statement
http://finance.google.com/finance?fstype=ci&q=HD
Click Annual Data and Income Statement
http://finance.google.com/finance?fstype=ci&q=HD
08-07-07 | 11:12 AM
#11
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From: FL
http://business.guardian.co.uk/story/0,,2142577,00.html
After pretty much ruining The Home Depot, Chrysler gives Nardelli the top job at Chrysler?? Unbelievable.
As an employee at HD, I saw all our benefits go out the door as soon as Nardelli took over. He doesn't care about the workers and only worries about how to operate in the cheapest way possible.
I feel bad for Chrysler workers. They need to prepare for severe cuts.
After pretty much ruining The Home Depot, Chrysler gives Nardelli the top job at Chrysler?? Unbelievable.
As an employee at HD, I saw all our benefits go out the door as soon as Nardelli took over. He doesn't care about the workers and only worries about how to operate in the cheapest way possible.
I feel bad for Chrysler workers. They need to prepare for severe cuts.
08-07-07 | 12:02 PM
#12
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From: Massachusetts
One of the very first things he did to us was cut longevity bonuses. The old benefit was:
(for full timers)
2 years = $500
5 years = $1,000
10 years = $1,000
15 years = $1,500
Then he took away merit awards (badges that you traded in for cash).
5 badges = $100 in your next check.
He took other things away too and just kept bringing employee moral down.
(for full timers)
2 years = $500
5 years = $1,000
10 years = $1,000
15 years = $1,500
Then he took away merit awards (badges that you traded in for cash).
5 badges = $100 in your next check.
He took other things away too and just kept bringing employee moral down.
08-07-07 | 12:25 PM
#13
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Joined: May 2004
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From: East Bumble F, NJ
http://business.guardian.co.uk/story/0,,2142577,00.html
After pretty much ruining The Home Depot, Chrysler gives Nardelli the top job at Chrysler?? Unbelievable.
As an employee at HD, I saw all our benefits go out the door as soon as Nardelli took over. He doesn't care about the workers and only worries about how to operate in the cheapest way possible.
I feel bad for Chrysler workers. They need to prepare for severe cuts.
After pretty much ruining The Home Depot, Chrysler gives Nardelli the top job at Chrysler?? Unbelievable.
As an employee at HD, I saw all our benefits go out the door as soon as Nardelli took over. He doesn't care about the workers and only worries about how to operate in the cheapest way possible.
I feel bad for Chrysler workers. They need to prepare for severe cuts.
Well, first, Chrysler did not give him the job. Cerberus Capital did. I should know. I work for Cerberus. Secondly, you shouldn't feel bad for Chrysler workers due to pending cuts. The main drag on Chrysler these past years has been from their brutally generous retirement packages that were mandated by the Union. While the packages were perfectly viable 25 or more years ago.....they just have no place in todays marketplace. My personal feeling is that this is where the attempt at change will occur. In reducing the pending 18 BILLION of retirement health care debt that Cerberus/Chrysler will inherit soon.
That said, you cannot deny Home Depot's decline under Nardelli. Will that hold true for Chrysler? Only time will tell. He will have a tough road ahead of him though!
08-07-07 | 01:22 PM
#14
If I can walk away from any job with $210 million dollars, I'm better off retiring that stressing about another job
