|
Chrysler No Longer Domestic?Chrysler to Say Bye Bye?
Filed under: Opinion, Chrysler
We’ve heard about Ford Motor Co. axing Mercury, and General Motors possibly vending the Hummer—now what about an entire company? Chrysler might just be headed in that direction.
In August of 2007, Cerberus Capital Management LP introduced its new CEO for Chrysler LLC, Robert Nardelli.
Nardelli left Home Depot as one of the highest-paid chief executives of worst-performing companies . Asides from the usual job slashing (12,100 jobs) and brand killing (Chrysler Crossfire, Pacifica and PT Cruiser convertible and the Dodge Magnum), Nardelli has so far failed to manage to raise production levels for Chrysler. U.S. manufacturers are expected to sell less than 15.5 million vehicles in 2008, 9 percent less than Chrysler’s forecast.
If that’s Nardelli’s best bet, then we're dying to meet him in Vegas.
As it stands, Chrysler may try to bunker down, or they might be put on the market by an increasingly frustrated Cerberus. Our take right now is that Chrysler will continue its cuts all the while pursuing its alliances with other automakers. Recently, it penned a deal with Nissan to develop the compact cars currently in demand by the public. And Cerberus, again, reiterated it has no plans to sell Chrysler. Yet.
|
|