When Cerberus Capital Management owned Chrysler, it put former CEO Bob Nardelli in charge of The Pentastar. When Nardelli left, shortly after Chrysler came out of bankruptcy, he stepped across the corporate drawbridge and into a role at Cerberus, heading its Jonathon Ramsey
Former Chrysler CEO Bob Nardelli has performed a curt about face on his comments about the Obama Administration's handling of the auto bailout. The Detroit News reports that Nardelli said that he believes the administration made the correct decision for Chrysler in an email
The Detroit News reports that former Chrysler CEO Bob Nardelli believes that the Obama Administration didn't need to hand the automaker to Fiat in order for the company to continue on. Instead, Nardelli says that a private equity firm could have easily taken the reins and steered the company back toward success. As you may re
Fiat now owns a big chunk of Chrysler. Officially. Soon after the Supreme Court gave it the go-ahead, the sale of Chrysler to Fiat was complete. Altogether, the deal took just 42 days. With a couple of signatures and a wire transfer Wednesday morning, the sale was official. Fiat gets most of Chrysler's assets and $6.6 billion in "exit financing" from the federal government.
There are some things about which you never want to misspeak. Your wife's birthday, your child's age and we can now add plant closings to that list. On the day Chrysler LLC filed for Chapter 11 bankruptcy, CEO Robert Nardelli was on the phone with Wisconsin Gov. Jim Doyle and the state's congressional delegates. During the call, Nardelli was asked if the state's plant in Kenosha that
Not long after the President concluded his televised press conference today, Chrysler released a statement saying that it and Fiat have already reached an "agreement on a framework of a global alliance".
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In an email to employees, Chrysler Corp. CEO Bob Nardelli has valued his company's potential partnership with Fiat at around $10 billion. That number is comprised of things like the cost of developing new vehicles that Chrysler would incur on its own, but should pocket in a tie-up with Fiat, which would provide the Auburn Hills-based automaker with ready made small cars to sell. Selling Chrysler-ba
The president decreed that CEOs running banks that received TARP funds couldn't be paid more than $500,000 each year. Chrysler isn't a bank, yet it has received TARP funds, and its CEO, Bob Nardelli, is well under the $500,000. Or at least, he might be. During recent Congressional hearings Nardelli was asked if he'd take a pay cut to $1 a year, and Jonathon Ramsey
Chrysler chieftan Bob Nardelli sent a letter to "all employees, dealers, suppliers and other stakeholders" to explain what's happening at the smallest of the Detroit trio. Everything done now falls under one of three umbrellas: enhancing the core, which is improving products, quality, and dealer and customer relations; extending the business with new products or by growing existing products into new areas; and expanding the market with global alliances to fill gaps in the product portfolio.
On Monday, December 29, Chrysler and General Motors were supposed to get the first installments of its allotted funds from the $17.4 billion dollar bridge loans. On Wednesday, GM got it's $4 billion. Chrysler, on the other hand, is still "finalizing the details of our financial assistance." The U.S. Treasury – the body disbursing the funds – didn't have much to say beyond
Having watched each of the Detroit 3 CEOs take tough questions from the Senate Banking Committee for six hours yesterday, we've returned to the couch today to watch General Motors CEO Rick Wagoner, Ford CEO Alan Mulally, Chrysler CEO Bob Nardelli and Ron Gettelfinger, President of the United Auto Workers union, visit House members of the Financial Services Committee led by Rep. Barney Frank (D-Massachusetts).
General Motors CEO Rick Wagoner has arrived in Washington to deliver testimony at Senate hearings scheduled for today and tomorrow, and as we reported late yesterday, his transportation this time was not a private jet, but rather a series hybrid Chevy Volt mule in the body of a John Neff
Chrysler LLC just released a statement from Bob Nardelli in which the CEO responds, in a way, to General Motors' third quarter earnings report. In the report, GM acknowledged that it had "recently explored the possibility of a strategic acquisition". While not citing Chrysler by name, we all know the strategic acquisition in question is the Auburn Hills-based automaker currently owne
"These are truly unimaginable times for our industry." That's how Chrysler CEO, Bob Nardelli, starts off a recent email to employees, just before dropping the bomb that the automaker intends to cut 25% of its salaried workforce beginning next month and continuing through the end of the year.
Chrysler, already hurt by slow sales of its bread-and-butter pickups and SUVs, doesn't think things will improve any time soon. According to an email sent by CEO Bob Nardelli to Chrysler employees, he believes that sales will continue to spiral down the drain. So far, though, the third of the Detroit 3 isn't ready to announce any additional layoffs or plant closures. Chrysler must have had some
Last month, a major announcement was made regarding an effort between Nissan and Chrysler to share products. Specifically, Nissan will build a small car for Chrysler and receive a large truck in return. It seems as if the Pentastar brand could use some more help when it comes to offering t
Chrysler CEO Bob Nardelli seems to recognize that the automaker he's at the helm of needs to reduce its dependence on trucks and SUVs and begin offering more fuel efficient cars. Remember that Chrysler recently made a deal with Nissan to get a new small car in exchange for a full-size truck platform. Nardelli would be interested in more of these cooperations, according to the Jeremy Korzeniewski