anus... photos on Flickr

I have been (and remain) scandalized (or just blown away) by Chrysler CEO’s Robert Nardelli’s (above) last job exit. He got pushed out as Home Depot CEO and handed 210 million dollars to leave. If he had done a great job, he would not have been canned. And the money? Has he no conscience? Did he really need to take that from the Home Depot shareholders and workers? Would ten million not have been enough? Or even 15 million??!!!

So then he gets hired by Chrysler to be their CEO! We don’t know much about his job and nothing about his pay package because unlike Ford and GM, Chrysler is privately held. Chrysler is owned by a bunch of rich people - Cerberus Capital Management LP. Why don’t they bail out their own company? Why don’t they tell us about their pay deal with Nardelli? Sure he says he will work for one dollar / year — but did they pay him a zillion dollars to join them? Has he been guaranteed a zillion dollars when he leaves? And if he did not know how to lead Home Depot - he got canned - why should we think he knows how to lead Chrysler? Should Cerberus Capital use their own money to avoid bankruptcy if they want to keep all this secret? No bank will lend YOU $25,000 for a car without combing YOUR fianances…yet Chrysler wants billions in loans from you without giving you info…hhm..

I am in favor of helping people - when it is needed and wise. Wise includes being confidant that the help will actually be help — not just a momentary fix leading to simply another round of disaster. I still don’t understand why restructuring via bankruptcy court is not better than, or as good, as a taxpayer loan. We all agree restructuring is needed - but should we hand over the taxpayer money to this current management? Apparently they have not done such a hot job so far….

and one other thing, who is/are the owners of Cerberus Capital Management LP?

Anus by John Surgeon