Chrysler's new owner, Cerberus Capital Management, expects the carmaker to return to profitability in roughly three year's time. In a recent interview, Cerberus boss John Snow told reporters "I think you'll see that Chrysler will be in much better shape within three years. This is a plan to get it back to profitability."

To ensure that it actually happens, former Home Depot Chief Robert Nardelli has been appointed as the automaker's new Chairman and CEO. Though Nardelli made some major blunders at his former place of employment, his time spent at General Electric is the reason why he was picked for the new job.

His strength is his willingness to cut out a company's weak points, whether they are operations or actual staff, and basically give the entire management hierarchy a shake up. Not surprisingly, when he stepped in at Home Depot in late 2000, 24 of the company's 39 senior staffers either quit or got the boot. We suspect the same is going to happen at Chrysler.

[Source: Automotive News, sub. req'd]

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