Bob Nardelli Laments The Loss Of Chrysler

[William Maley]

Bob Nardelli Laments The Loss Of Chrysler

William Maley - Editor/Reporter - CheersandGears.com

October 3, 2011

Former Chrysler CEO, Bob Nardelli isn't happy with Obama Administation still to this day. Speaking with The Detroit News, Nardelli had some interesting thoughts about Chrysler.

Nardelli says he "laments all the time" that private equity firm Cerberus Capital Management LP, who he still works for, isn't running the pentastar.

"If the government gave us the deal they gave Fiat, we'd be doing just fine — really. There was no reason for the government to give Chrysler away," Nardelli said.

Back in 2009, Cerberus sent a plan to US Government outlining how they would turn around Chrysler and a request for $5 billion in additional aid. The US Government said no to the plan and told Cerberus to step aside for Fiat to help out the struggling automaker with a $12.5 billion investment and 20% stake into the company.

When the News asked former auto czars Steve Rattner and Ron Bloom for comment, both declined. Previously though, Rattner has said the government saw they couldn't leave Cerberus in charge.

"We did make a decision that we wanted to have a completely fresh management team," he said.

Chrysler spokesperson Gualberto Ranieri said "it is literally much better not to comment."

Rebecca Lindland, a New York-based analyst with IHS Automotive says Nardelli is overstating Cerberus' role in Chrysler.

"This is like a foster parent who briefly raised a child at age 5 taking credit when they grew up to be president of the United States or an Olympic athlete. I don't think many people at Chrysler would agree with him."

Source: The Detroit News

[Drew Dowdell]

Uh.. no. Fiat actually knows how to build a car. You know home improvement stores.

[FAPTurbo]

Uh.. no. Fiat actually knows how to build a car. You know home improvement stores.

Based on his record, I don't think he knows home improvement either. Or anything synonymous with the word 'improvement' to begin with.

[Drew Dowdell]

Uh.. no. Fiat actually knows how to build a car. You know home improvement stores.

Based on his record, I don't think he knows home improvement either. Or anything synonymous with the word 'improvement' to begin with.

that's the power of the Home Depot

[riviera74]

I know a current employee of Home Depot and she has told me stories of how Bob Nardelli screwed up a lot of things there, particularly after the mass firings of a lot of necessary people at Home Depot and the stagnancy if not cutting of wages there. Nobody there misses him there; Chrysler will not miss him either, least of all Chrysler employees.

[Drew Dowdell]

I've noticed a distinct change in Home Depot since he's been gone.

[riviera74]

I've noticed a distinct change in Home Depot since he's been gone.

She has mentioned a few things have improved since Nardelli's departure.

[Intrepidation]

I'm glad he's gone. He nearly ran Home Depot into the ground and was worse than useless in charge of Chrysler. Sergio Marchionne is the best thing to happen to Chrysler in years, and it shows.