All the squawking over Bob Nardelli's taking the CEO role at Chrysler is interesting to me. I had heard some conversations in passing during the week, but when a caller on a television show last night angrily brought up Nardelli's new job, it occurred to me that Bob Nardelli's background is a pretty darn good fit for Chrysler.
Yes, he treated shareholders miserably at Home Depot
Let's also not forget that Home Depot is retail, and retail is not Nardelli's background. Nardelli's background, as many readers surely know, includes about 30 years at General Electric
I'm not saying he's a nice guy. He certainly wasn't to Home Depot shareholders, but Chrysler is private at the moment, so handling shareholders is not a concern. Oh, and did I mention he's shown he can cut costs and push through change?
It's not like Honda
Home Depot is a Motley Fool Inside Value selection.
Nathan Parmelee worked at General Electric too once upon a time, but didn't fully develop his cost-cutting chops. He does not own shares in any of the companies mentioned. The Motley Fool has an ironclad disclosure policy.
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