Filed under: Government/Legal, Chrysler, LLC.
Nardelli: I would sacrifice my job to save Chrysler
by John Neff on Dec 4th 2008 at 3:30PM 
During today's Senate hearings of the Detroit 3 automakers, U.S. Senator Robert Bennett (R-Utah) spent much of his time on the mic talking about the cost savings that would be realized if General Motors and Chrysler LLC merged. He argued that prior talks held between the two companies has already laid the groundwork for a merger and that estimates peg annual cost savings at $8-10 billion for the combined company. Bennett then remarked that one reason a GM/Chrysler merger didn't happen the first time around was because many people in upper management, possibly including one of the two CEOs sitting before him, would basically lose their jobs. When asked if he would still want government assistance if Congress made the merger of GM and Chrysler a condition, Nardelli responded, "The first job that would go would be mine, but if in fact that's the criteria that means we would get money to save Chrysler and the people who have worked there for 80 some years, I would do it." Wow.
Of course, we're fairly certain Mr. Nardelli has a decently sized nest egg to fall back on, and we'd jump at the offer to make a graceful exit if we were the CEO of Chrysler, too. Nevertheless, Nardelli's comment came off as sincere and was commended by Senator Chris Dodd (D-Connecticut) who is chairing the hearings.
[Photo by Chip Somodevilla/Getty]
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Reader Comments (Page 1 of 5)
Dude 3:35PM (12/04/2008)
Nardelli: I would sacrifice my job to save Chrysler
followed by -
Nardelli: You know just like I did at Home Depot, when I "sacrificed" my job by having it taken from me.
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Torrent 4:38PM (12/04/2008)
aw dude you're not supposed to say those things. Only think them to yourself.
lowest....est ranked FTMFW!!
zamafir 4:42PM (12/04/2008)
Lol, it's entertaining, simply stating obvious facts now makes one a martyr. Why wouldn't the CEO with the least amount of relevant experience be axed if it came to that... Ditto on the Home Depot comment, just talk to anyone who worked there while he was CEO, it's no wonder Chrysler is in the position they're in. Let's make things more fun, force GM/Chrysler to pull a ford, if they want money they'll need to hire a CEO with a proven recent track record of reshaping a company.
Omer 4:43PM (12/04/2008)
I almost shed a tear for nardelli and then i remember how he almost killed Home Depot and walked away like +200 MIllion dollars. In my area i have noticed that Home Depot is actually getting better. They recently made slight updates taht makes the store more inviting. You can almost feel diference in attitude. Narelli is bean counter who overlooks the obivous problems and tries to cut every corner to save a few dimes. Sometimes you have invest in your product and there is not other alternative. Cheapskates can run but they can't hide. Sooner or later cheapness comes out.
Jon 5:42PM (12/04/2008)
Nardelli would probably be relieved.
As for Chrysler...They're not going to make it.
There's no room for them in the market.
They're not competitive.
Just a host animal for a bunch of apathetic union parasites.
Randy 5:43PM (12/04/2008)
LOL
This guy is a human tank factory!
How about this.. From now on, when anyone wants to sell stock to take a loss, make their company stock drop in price for a company buy back or simply wants to fail at life or in business let's call it "Making a Nardelli".
i.e. "his name is Mudd"
i.e. "A Munsened that"
Austin Caldwell 10:53AM (12/11/2008)
I am a Chrysler worker who is loosing my job in Newark De. and I do not have the nest egg like Mr Nardelli or the current plant manager who tells workers that he does not care because he has a nest egg waiting for him in one of these foreign plants that they want our american tax dollor to support. How much of a bailout are these foreign plants willing to give to keep american jobs
Seminole 3:40PM (12/04/2008)
Wait, please tell me the Gov. isn't actually considering mandating GM and Chrysler merge. Most of that $8-10B cost savings will be because GM will scrap most of Chrysler and Dodge. This circus gets worse every day.
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Alex 3:45PM (12/04/2008)
Exactly! Should those two merge you can bet that the Dodge and Chrysler names would be axed. Maybe one or two cars survive from Chrysler like the sprinter and mini-vans. Many factories would be closed up and sold off. Thousands of jobs would be lost.
Awful idea.
geo.stewart 3:50PM (12/04/2008)
yeah, thats what we need. Congressmen with no sense of business or the auto industry telling GM et al how to run their business.
run it into the ground like they are our country.
You think Wagoner is doing a bad job? Let Congress run it for a week.
Drew 3:51PM (12/04/2008)
They are about to be closed and sold off anyways, So.....what's the difference here?
Mobius_1 5:12PM (12/04/2008)
I say help GM, but let Chrysler go Chapter 11 (or 7)
Judy Zik 11:03PM (12/04/2008)
No kidding. Congress telling the automakers how to run a business is a joke. Take a look at their track record of balancing their own books.
I can see it now.
They will borrow a trillion dollars from the Chinese and merge all the automakers into one big company building one model of car. Each District will have a small plant to build a different part which may or may not fit on the car. Then they will all be shipped to plants in battleground states plus one at the end of a dead end dirt road in Alaska. The cars will come with "Patriot Engines" that get 35mpg as long as you use the right mix of Gas, Hydrogen, Ethanol, Biodiesel and Pig Manure. Unfortunately they will only work for a few weeks at a time before taking long recesses. Replacement parts will require you to fill out forms in triplicate and wait 3 months.
finc.jb 3:42PM (12/04/2008)
Holy crap give the guy a break. He just said he'll leave if it means Chrysler will be able to survive. I truly believe he wants Chrysler to survive.
ON THEIR OWN ! Not merged
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Ben 3:48PM (12/04/2008)
Give these guys a little more credit - especially when they put others in front of themselves.
That's what makes people truly great.
Red 4:15PM (12/04/2008)
Funny enough, Nardelli was the only person who agreed to take the $1 salary a few weeks back. I think he's sincere in his want to get Chrysler back on track without the merger.
However, I don't understand people's argument against a merge. I get that Dodge and Chrysler have a long history with muscle-car fanatics, etc, but right here and right now? Both companies are practically irrelevant as they currently are. Sure they've had a spark or two here and there on the car side like the 300C...Charger...I'm presuming the Challenger... but none of them are really sustainable in the long-term. If California passes AB1493, they're f*cked (for those that don't know, AB1493 is a state law that would reduce C02 and demand up to 43mpg fleet average by 2016 and 50mpg fleet average by 2020). If that happens, large and full-sized gasoline-fueled vehicles will practically disappear.
Chrysler is ahead with GEM and electric vehicle research, but Cereberus acts as if they could practically give a crap about them. I just don't see a sustainability in their situation, but I'm open to other's POVs.
Say What? 5:33PM (12/04/2008)
To Red:
If what you say about regulation AB1493 is accurate, the all of Detroit's automakers will be left out in the cold. And I also suspect some manufactuers in Europe and Asia will be feeling the chill as well.
So now we have to look at this thing as a whole and not just the pieces. If the automakers are indeed serious about revamping their products to be safer and more fuel efficient, then the 43-mpg by 2016 goal might just be obtainable.
If they are able to do that then the latter 50-mpg 2020 goal could be within reach.
Enlightened_One 3:42PM (12/04/2008)
All Class
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andy 3:47PM (12/04/2008)
he has to say that, its called publicity
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Librapaj 4:05PM (12/04/2008)
Well you know it sure spins i alot better as opposed to them asking Wagoner about his salary and him stating he wouldn't take a paycut. IN his exact words, " I am fine right where I am at"
So if this is publicity then credit him for getting good publicity and not negative one. And don't forget he did manage to turn around Home Depot so it shows he doesn't have his head up his ass like Wagoner.