Just amazing.....
TMT
Ex-Home Depot boss to lead New Chrysler By DEE-ANN DURBIN, AP Auto
Writer
Chrysler began its new life as a private company on Monday with an
auto-industry outsider taking the wheel.
Bob Nardelli, who left Home Depot in January after a shareholder
rebellion over his outsized pay, was named to head the company,
replacing Tom LaSorda, who is taking the No. 2 slot.
Nardelli and LaSorda shared a handshake and posed for pictures during
a celebratory event at Chrysler's headquarters in Auburn Hills.
"We'll move forward with speed and a renewed focus on meeting the
needs of our customers," Nardelli said.
Some wondered what effect Nardelli's hiring would have on ongoing
contract talks with the United Auto Workers, but Nardelli was quick to
point out Monday that union President Ron Gettelfinger already has
been contacted about the executive shake-up at Chrysler in a two-hour
meeting.
LaSorda, Chrysler LLC's newly named president and vice chairman, still
will be at the forefront of "what could be a landmark negotiating
period" not only for Chrysler, but for the auto industry, Nardelli
said.
Like other U.S. auto companies, Chrysler has been struggling to make a
profit while sales were falling and pension and retiree health costs
were rising.
Chrysler made $1.8 billion in 2005 but lost $618 million in 2006 and
$1.98 billion before interest and taxes in the first quarter of this
year. DaimlerChrysler didn't report second-quarter earnings for
Chrysler because of the impending sale.
Chrysler also said Monday that following a nine-year hiatus, the
Pentastar is coming back as the corporate mark for the company. First
used as a logo in 1962, the five-pointed star is returning with a
three-dimensional update. The symbol will be used on buildings,
signage and corporate stationery.
Former Chrysler executive Wolfgang Bernhard, a senior adviser to
Cerberus, had been widely expected to be named chairman. He was
offered a position with the company but elected not to accept it.
On Friday, DaimlerChrysler AG transferred an 80.1 percent stake in
Chrysler to New York-based Cerberus Capital Management LP, one of the
world's largest private equity companies, in a $7.4 billion deal. The
German automaker, which is to be renamed Daimler AG, retained a 19.9
percent interest in Chrysler.
Cerberus Chairman John Snow previously had said Cerberus planned to
keep Chrysler's management team in place and give it the freedom to
implement its restructuring plan, which currently calls for shedding
13,000 hourly and salaried jobs in the U.S. and Canada by 2009.
Nardelli helped increase revenue and profits at Home Depot and boost
the number of stores the company operates. But he resigned from the
company after it came under intense criticism for his hefty pay and
slumping stock price. Nardelli left Home Depot with a golden parachute
worth $210 million.
Nardelli said Monday that his compensation at Chrysler would be based
on the company's performance.
Besides Nardelli and LaSorda, the 11-member Chrysler board now
includes representatives from Cerberus and DaimlerChrysler, as well as
independent directors.
Chrysler's chief operating officer, Eric Ridenour, decided to leave
the automaker after 23 years, Chrysler said.
___
Associated Press Writer David N. Goodman in Detroit contributed to
this report.
On Aug 6, 11:58 am, "Lloyd E. Sponenburgh" <[email protected]>
wrote:
> "Too_Many_Tools" <[email protected]> wrote in message
>
> news:[email protected]...
>
> > Just amazing.....
>
> > TMT
>
> > Ex-Home Depot boss to lead New Chrysler By DEE-ANN DURBIN, AP Auto
> > Writer
>
> So now we can expect a maximum of one service tech per 50,000sq.ft. of
> service bay (and he'll be "at lunch"), and that all metal parts will be made
> in China. (one should inspect the back-side of each piece to make sure they
> washed off all the Coke Can imprinting).
>
> LLoyd
LOL...unfortunately I suspect that you may right.
In the next year I was going to buy a Chrysler mini van....I will not
be now. I expect support for their products to drop to dismal levels
as they extract value from the company.
TMT
On Aug 6, 12:49 pm, Brian Elfert <[email protected]> wrote:
> "Lloyd E. Sponenburgh" <[email protected]> writes:
>
> >So now we can expect a maximum of one service tech per 50,000sq.ft. of
> >service bay (and he'll be "at lunch"), and that all metal parts will be made
>
> Service is done by licensed franchisees, not Chrysler themselves.
>
> Chrysler could crack down on warranty reimbursement I suppose.
Typicial approach is to starve the dealers and franchisees....to raise
Chrysler's share of the take and of course the CEO's bonus.
Google the sad story of Home Depot's decline under this guy....he was
forced out for driving Home Depot, its staff and its suppliers into
the ground....meanwhile he was raping the company for his own benefit.
They did not hire this guy to raise the public's confidence in
Chrysler...I suspect he will gut the company.
Until I am proven wrong, I will be buying vehicles from companies from
other than Chrysler.
TMT
On Aug 6, 4:53 pm, LRod <[email protected]> wrote:
> On Mon, 06 Aug 2007 09:20:17 -0700, Too_Many_Tools
>
> <[email protected]> wrote:
>
> [snip]
>
> >Chrysler also said Monday that following a nine-year hiatus, the
> >Pentastar is coming back as the corporate mark for the company. First
> >used as a logo in 1962, the five-pointed star is returning with a
> >three-dimensional update. The symbol will be used on buildings,
> >signage and corporate stationery.
>
> I wonder how earnings might be improved if we left all the building
> sings alone? Stationery should be printed on local lasers JIT to
> further help.
>
> --
> LRod
>
> Master Woodbutcher and seasoned termite
>
> Shamelessly whoring my website since 1999
>
> http://www.woodbutcher.net
>
> Proud participant of rec.woodworking since February, 1997
>
> email addy de-spam-ified due to 1,000 spams per month.
> If you can't figure out how to use it, I probably wouldn't
> care to correspond with you anyway.
Yeah...I laughed about that too....change the signs and all is
forgiven.
Maybe they should try offering better better quality, lower prices and
better mileage....and pay the CEO a $1 a year.
It would make me a customer again.
TMT
Now
On Aug 6, 4:52 pm, "Proctologically Violated=A9=AE"
<[email protected]> wrote:
> Fox news/cnn quoted Lee Iacocca as being in shock from the Nardelli appt.
>
> Mebbe chrysler will start using Home Depot parts.
> --
> ------
> Mr. P.V.'d (formerly Droll Troll), Yonkers, NY
>
> Stop Corruption in Congress & Send the Ultimate Message:
> Absolutely Vote, but NOT for a Democrat or a Republican.
> Ending Corruption in Congress is the *Single Best Way*
> to Materially Improve Your Family's Life.
> The Solution is so simple--and inexpensive!
>
> entropic3.14decay at optonline2.718 dot net; remove pi and e to reply--ie,
> all d'numbuhs
>
> "Too_Many_Tools" <[email protected]> wrote in message
>
> news:[email protected]...
>
>
>
> > Just amazing.....
>
> > TMT
>
> > Ex-Home Depot boss to lead New Chrysler By DEE-ANN DURBIN, AP Auto
> > Writer
>
> > Chrysler began its new life as a private company on Monday with an
> > auto-industry outsider taking the wheel.
>
> > Bob Nardelli, who left Home Depot in January after a shareholder
> > rebellion over his outsized pay, was named to head the company,
> > replacing Tom LaSorda, who is taking the No. 2 slot.
>
> > Nardelli and LaSorda shared a handshake and posed for pictures during
> > a celebratory event at Chrysler's headquarters in Auburn Hills.
>
> > "We'll move forward with speed and a renewed focus on meeting the
> > needs of our customers," Nardelli said.
>
> > Some wondered what effect Nardelli's hiring would have on ongoing
> > contract talks with the United Auto Workers, but Nardelli was quick to
> > point out Monday that union President Ron Gettelfinger already has
> > been contacted about the executive shake-up at Chrysler in a two-hour
> > meeting.
>
> > LaSorda, Chrysler LLC's newly named president and vice chairman, still
> > will be at the forefront of "what could be a landmark negotiating
> > period" not only for Chrysler, but for the auto industry, Nardelli
> > said.
>
> > Like other U.S. auto companies, Chrysler has been struggling to make a
> > profit while sales were falling and pension and retiree health costs
> > were rising.
>
> > Chrysler made $1.8 billion in 2005 but lost $618 million in 2006 and
> > $1.98 billion before interest and taxes in the first quarter of this
> > year. DaimlerChrysler didn't report second-quarter earnings for
> > Chrysler because of the impending sale.
>
> > Chrysler also said Monday that following a nine-year hiatus, the
> > Pentastar is coming back as the corporate mark for the company. First
> > used as a logo in 1962, the five-pointed star is returning with a
> > three-dimensional update. The symbol will be used on buildings,
> > signage and corporate stationery.
>
> > Former Chrysler executive Wolfgang Bernhard, a senior adviser to
> > Cerberus, had been widely expected to be named chairman. He was
> > offered a position with the company but elected not to accept it.
>
> > On Friday, DaimlerChrysler AG transferred an 80.1 percent stake in
> > Chrysler to New York-based Cerberus Capital Management LP, one of the
> > world's largest private equity companies, in a $7.4 billion deal. The
> > German automaker, which is to be renamed Daimler AG, retained a 19.9
> > percent interest in Chrysler.
>
> > Cerberus Chairman John Snow previously had said Cerberus planned to
> > keep Chrysler's management team in place and give it the freedom to
> > implement its restructuring plan, which currently calls for shedding
> > 13,000 hourly and salaried jobs in the U.S. and Canada by 2009.
>
> > Nardelli helped increase revenue and profits at Home Depot and boost
> > the number of stores the company operates. But he resigned from the
> > company after it came under intense criticism for his hefty pay and
> > slumping stock price. Nardelli left Home Depot with a golden parachute
> > worth $210 million.
>
> > Nardelli said Monday that his compensation at Chrysler would be based
> > on the company's performance.
>
> > Besides Nardelli and LaSorda, the 11-member Chrysler board now
> > includes representatives from Cerberus and DaimlerChrysler, as well as
> > independent directors.
>
> > Chrysler's chief operating officer, Eric Ridenour, decided to leave
> > the automaker after 23 years, Chrysler said.
>
> > ___
>
> > Associated Press Writer David N. Goodman in Detroit contributed to
> > this report.- Hide quoted text -
>
> - Show quoted text -
I wonder how long it will take before the US Government will have to
pick up the Chrysler pension obiligation?
TMT
On Aug 7, 11:04 am, "Kate" <[email protected]> wrote:
> "Too_Many_Tools" <[email protected]> wrote >
>
> *some sniping for clarity*
>
> Typicial approach is to starve the dealers and franchisees....to raise
> Chrysler's share of the take and of course the CEO's bonus.
>
> *I heard on the news last night that they are not going to pay him unless he
> does the job right.
>
> Google the sad story of Home Depot's decline under this guy....he was
> forced out for driving Home Depot, its staff and its suppliers into
> the ground....meanwhile he was raping the company for his own benefit.
>
> *You don't have to google it, you can just SEE it every time you walk into
> one of their stores. The decline is evident.
>
> They did not hire this guy to raise the public's confidence in
> Chrysler...I suspect he will gut the company.
>
> * I agree completely.
>
> Until I am proven wrong, I will be buying vehicles from companies from
> other than Chrysler.
>
> *Ain't NObody takin MY Jeep! Of course, I'm not in the market for a NEW one
> for quite awhile....
>
> Kate
> ______
> /l ,[____],
> l-L -OlllllllO-
> ()_)-()_)--)_)
>
> "Never let a stranger in your cab, your house, your life - unless he is a
> frind of labor"
>
> Jimmy Hoffa
> -----------
> Typicial approach is to starve the dealers and franchisees....to raise
> Chrysler's share of the take and of course the CEO's bonus.
>
> *I heard on the news last night that they are not going to pay him unless he
> does the job right.
>
When a public company wants to hide problems, it is easy.
When a private company wants to hide problems, it is standard
operating procedure.
One of the reasons one never trusts a private company when you invest.
My guess the story will be everything is great and he will be
overcompensated as usual until one day...BOOM...the company files for
bankruptcy.
TMT
On Aug 7, 6:06 pm, "Rod & Betty Jo" <[email protected]> wrote:
> B A R R Y wrote:
>
> > Proctologically Violated=A9=AE wrote:
> >> I spoke to some big-whigs at HD who implied fukn Nardelli left HD in
> >> shambles.
>
> > The financial press pretty much made that clear.
>
> Actually the stock price languished but gross sales and profits rose quite
> substantially, the actually fiscal health of the company improved during =
his
> tenure....does one properly fiscally judge a company by actual operations=
or
> investor exuberance (subject to change on a whim)?
>
> As a consumer one might rightfully complain about service, employees or
> even his salary but consumers kept buying and HD made more money under his
> leadership. Rod
Well you may have a point....
http://www.usatoday.com/money/industries/retail/2007-01-03-hd-nardelli_x.htm
But as a consumer service, quality and price is everything...and after
shopping for many years at Home Depot I am now a strong Lowes
customer....waste my time and I am gone....
TMT
On Aug 7, 6:06 pm, "Rod & Betty Jo" <[email protected]> wrote:
> B A R R Y wrote:
>
> > Proctologically Violated=A9=AE wrote:
> >> I spoke to some big-whigs at HD who implied fukn Nardelli left HD in
> >> shambles.
>
> > The financial press pretty much made that clear.
>
> Actually the stock price languished but gross sales and profits rose quite
> substantially, the actually fiscal health of the company improved during =
his
> tenure....does one properly fiscally judge a company by actual operations=
or
> investor exuberance (subject to change on a whim)?
>
> As a consumer one might rightfully complain about service, employees or
> even his salary but consumers kept buying and HD made more money under his
> leadership. Rod
Another opinion....
http://www.businessweek.com/innovate/NussbaumOnDesign/archives/2007/01/less=
ons_from_ho.html
On Aug 7, 6:06 pm, "Rod & Betty Jo" <[email protected]> wrote:
> B A R R Y wrote:
>
> > Proctologically Violated=A9=AE wrote:
> >> I spoke to some big-whigs at HD who implied fukn Nardelli left HD in
> >> shambles.
>
> > The financial press pretty much made that clear.
>
> Actually the stock price languished but gross sales and profits rose quite
> substantially, the actually fiscal health of the company improved during =
his
> tenure....does one properly fiscally judge a company by actual operations=
or
> investor exuberance (subject to change on a whim)?
>
> As a consumer one might rightfully complain about service, employees or
> even his salary but consumers kept buying and HD made more money under his
> leadership. Rod
And yet another...
http://www.businessweek.com/innovate/NussbaumOnDesign/archives/2007/08/pick=
ing_robert.html
"Picking Robert Nardelli to Save Chrysler Is The Most Bone-Headed Idea
Of 2007."
I don't know if it is the MOST bone-headed idea....I think Bush has
the corner on that prize.
TMT
On Aug 7, 8:08 pm, "Rod & Betty Jo" <[email protected]> wrote:
> B A R R Y wrote:
>
> > That's not what I read on cbs.marketwatch.com and in the "Wall Street
> > Journal":
>
> Your confusing share price with actual company performance
>
> > <http://www.marketwatch.com/news/story/nardelli-poised-tackle-lengthy-...>
>
> > It was essentially the stockholders (remember them, the OWNERS?) who
> > fired him. If the company was so profitable, I doubt the shareholders
> > would have driven him out. Shareholders usually LOVE mavericks who
> > return results. The only results Nardelli returned were to his own
> > net worth.
>
> > Got any news that proves otherwise?
>
> > How about this?
> > <http://www.marketwatch.com/news/story/evidence-bad-management-plain-s...>
>
> Duh! Your link says
> "Now, is Home Depot done for? I don't think so. It has a good brand and
> market position, though a bit tarnished lately. It certainly seems a value
> at 12 times earnings, low double-digit sales growth and a relatively solid
> (for retail) 7% net profit margin"
>
> With a little research you will find sales increased around 100% and profits
> around 106% under his watch...as in more than doubled in 6 years.
>
> Many investors or stockholders care more about current share price than
> company fundamentals.....remember the dot.com boom and resultant bust? Many
> "wise" investors plunked billions into flaky not ever profitable soon to not
> exist companies.
>
> While in principle I deplore "excessive" corporate salaries I don't fault
> the guy for getting what he can but rather the "investors" for signing the
> contract...they offered, he accepted.....is he really supposed to refuse
> after the fact? Rod
Try looking at this comparsion between HD and Lowes....
http://www.usatoday.com/money/industries/retail/2007-01-03-hd-nardelli_x.htm
It doesn't look like they were doing that good.
And let us not forget that we have just finished the biggest building
boom in decades....which would make even a poorly run company look
good...for awhile.
TMT
On Aug 8, 6:24 am, "Rod & Betty Jo" <[email protected]> wrote:
> Too_Many_Tools wrote:
>
> > Try looking at this comparsion between HD and Lowes....
>
> >http://www.usatoday.com/money/industries/retail/2007-01-03-hd-nardell...
>
> > It doesn't look like they were doing that good.
>
> > And let us not forget that we have just finished the biggest building
> > boom in decades....which would make even a poorly run company look
> > good...for awhile.
>
> > TMT
>
> You still have not presented anything other than his well known low stock
> price appreciation.....Doubling sales and a more than doubling of profits
> and a healthy profit retail profit percentage is not by any rational
> definition a poorly run company......I would suggest that the stock price
> had flown so high prior to his arrival that the market had eventually wised
> up and let the price catch up a bit with reality. One may note that
> Microsoft's stock price has languished as well for quite a few years and yet
> they have extreme profits, growth and market share.
>
> Whether you like, hate or detest HD or whether you think Nardelli is a over
> paid boob is obviously your prerogative or choice but it doesn't impact his
> actual job performance facts...... Rod
Are you actually reading the link I posted?
Where it compares Lowes and HD?
Where it shows that Lowes was doing MUCH better than HD?
His actual job performance pales in comparsion to his competition.
You wouldn't have to be his mother would you?
TMT
On Aug 8, 9:16 am, "Dave Gordon" <d@p> wrote:
> "Rod & Betty Jo" <[email protected]> wrote in messagenews:13bhumob34qt6=
[email protected]...>B A R R Y wrote:
> >> Proctologically Violated=A9=AE wrote:
> >>> I spoke to some big-whigs at HD who implied fukn Nardelli left HD in
> >>> shambles.
>
> >> The financial press pretty much made that clear.
>
> > Actually the stock price languished but gross sales and profits rose qu=
ite substantially, the
> > actually fiscal health of the company improved during his tenure....doe=
s one properly fiscally judge
> > a company by actual operations or investor exuberance (subject to chang=
e on a whim)?
>
> > As a consumer one might rightfully complain about service, employees or=
even his salary but
> > consumers kept buying and HD made more money under his leadership. Rod
>
> You can always make a company look good in the short term by cutting back=
longterm projects like
> research, and by cutting staff and forcing the rest to work stupid hours.=
Eventually the strain shows
> and the company suffers from lack of new products and excessive key staff=
turnover. Nardelli's way is
> to get out before that happens, trousering his performance bonus.
>
> You can always make a company look good in the short term by cutting back=
longterm projects like
> research, and by cutting staff and forcing the rest to work stupid hours.=
Eventually the strain shows
> and the company suffers from lack of new products and excessive key staff=
turnover. Nardelli's way is
> to get out before that happens, trousering his performance bonus.
Exactly....and that has been the MO of the GE Yes Men under Welch.
Ever track the performance of a company after these parasites move on
after raping them for R&D and gutting staff?
It takes years to rebuild them (if it happens at all)...it is always
easier to destroy than to create.
TMT
On Aug 8, 2:41 pm, John <[email protected]> wrote:
> On Tue, 07 Aug 2007 16:06:07 -0700, Rod & Betty Jo wrote:
>
> > B A R R Y wrote:
> >> Proctologically Violated=A9=AE wrote:
> >>> I spoke to some big-whigs at HD who implied fukn Nardelli left HD in
> >>> shambles.
>
> >> The financial press pretty much made that clear.
>
> > Actually the stock price languished but gross sales and profits rose qu=
ite
> > substantially, the actually fiscal health of the company improved durin=
g his
> > tenure....does one properly fiscally judge a company by actual operatio=
ns or
> > investor exuberance (subject to change on a whim)?
>
> > As a consumer one might rightfully complain about service, employees or
> > even his salary but consumers kept buying and HD made more money under =
his
> > leadership. Rod
>
> HD didn't make more money from retail. His "leadership" lead to the
> increasing competitiveness of Lowe's in geographical areas where HD
> originally had a complete lock-in on retail sales. HD stock peaked about
> the middle of 2004 and hasn't really gone anywhere since - actually a
> slight downward trend is present. So cosumers probably quit buying in the
> raw numbers that HD once saw. Their costumer support became characterized
> by willing (well sometimes) but ignorant lots who specialized in blank
> looks and ignorance.
>
> RIDGID, BTW, is generally associated with HD, but talking to their support
> leads to the conclusion that they wish they weren't. I need ed a new set
> if knives for my 13-inch plainer and ultimately had to go through a phone
> call to RIDGID support because the new numb-nuts approach to special orde=
rs
> and support at HD resulted in nothing but exclamations of ignorance. I
> would not be surprised to see RIDGID looking for some new distribution
> channels if HD stays the present course.
>
> J
> Their costumer support became characterized
> by willing (well sometimes) but ignorant lots who specialized in blank
> looks and ignorance.
>
You forgot to mention that the new help cost much less....much, much
less.
That has to happen to make up for the CEO bonus.....that money doesn't
come from thin air.
If anyone wants to impress me with the so called Welch magic they
first need to hold the CEO to the same standard that the employees are
held to. If you want to hire the rank and file employees for minimum
wage, I will expect the CEO to work for the same type of wages.
TMT
On Aug 8, 6:40 pm, "Lew Hodgett" <[email protected]> wrote:
> RE: Subject
>
> Chrysler deserves the screwing they are going to get.
>
> Nardelli's idea of long range planning is, "What's for lunch?"
>
> Strictly a "slash and burn" approach.
>
> You notice GE didn't pick him to replace Welch.
>
> Lew
Nor has GE recovered from the Welch Effect.
Nor has Jack since his exwife showed him who the real boss is.
TMT
On Aug 9, 10:08 pm, Dave Hinz <[email protected]> wrote:
> On Wed, 8 Aug 2007 19:43:41 -0700, Lew Hodgett <[email protected]> wrote:
>
> > "Too_Many_Tools" wrote
>
> >> Nor has GE recovered from the Welch Effect.
>
> > GE today is worth about 2/3 of what it was when Welch left and that has only
> > happened in the last quarter.
> > Prior to that it was lucky to be worth 1/2 for the lat 5 years.
>
> TMT doesn't let facts get in their way. GE stock was strong, then 9/11
> happened, went into a slump for a while, and is now doing very well. At
> 40 now, I don't think it went below 28 or so though, so 3/4 rather than
> half, yes.
>
> Dave "got a bit of it...and a few years there" Hinz
Yeah Dave is never biased...LOL.
Did you notice Dave what happened to Jack at home when he tried to act
like he did in GE...he had his butt handed to him.
GE is a shadow of what it was because of Jack "The Joke" Welch.
Any idiot can rape and pillage a company that took decades to
build....such as Home Depot.
TMT
On Aug 10, 7:35 pm, Dave Hinz <[email protected]> wrote:
> On Thu, 9 Aug 2007 22:47:17 -0700, Lew Hodgett <[email protected]> wrote:
>
> > "Dave Hinz" wrote:
> >> TMT doesn't let facts get in their way. GE stock was strong, then 9/11
> >> happened, went into a slump for a while, and is now doing very well. At
> >> 40 now, I don't think it went below 28 or so though, so 3/4 rather than
> >> half, yes.
>
> > Actually it got down to the 20-22 range for a while.
>
> Hmm. would you look at that. It's also worth noting that I left GE in
> 2002, came back in 2006. Which corresponds with the dip in stock price.
> Perhaps I should graph that out before my next performance review...
A company man, are we?
Naturally you would not be biased.,,LOL.
And for the stock dip to occur when you rejoined GE...couldn't that be
a reason to rate you in the bottom 5%? I have seen more outrageous
reasons used.
See...I know how to do performance reviews too....and use them to get
rid of employees I don't like.
The Welch Way sucks....and long term it guts a company of its
experienced people.
TMT
"Lloyd E. Sponenburgh" <[email protected]> writes:
>So now we can expect a maximum of one service tech per 50,000sq.ft. of
>service bay (and he'll be "at lunch"), and that all metal parts will be made
Service is done by licensed franchisees, not Chrysler themselves.
Chrysler could crack down on warranty reimbursement I suppose.
B A R R Y wrote:
> Proctologically Violated©® wrote:
>> I spoke to some big-whigs at HD who implied fukn Nardelli left HD in
>> shambles.
>
> The financial press pretty much made that clear.
Actually the stock price languished but gross sales and profits rose quite
substantially, the actually fiscal health of the company improved during his
tenure....does one properly fiscally judge a company by actual operations or
investor exuberance (subject to change on a whim)?
As a consumer one might rightfully complain about service, employees or
even his salary but consumers kept buying and HD made more money under his
leadership. Rod
B A R R Y wrote:
> That's not what I read on cbs.marketwatch.com and in the "Wall Street
> Journal":
Your confusing share price with actual company performance
> <http://www.marketwatch.com/news/story/nardelli-poised-tackle-lengthy-chrysler/story.aspx?guid=%7BF16A2E7F%2D99F9%2D4D0C%2D9B5D%2D3470323FB5D4%7D>
>
> It was essentially the stockholders (remember them, the OWNERS?) who
> fired him. If the company was so profitable, I doubt the shareholders
> would have driven him out. Shareholders usually LOVE mavericks who
> return results. The only results Nardelli returned were to his own
> net worth.
>
> Got any news that proves otherwise?
>
> How about this?
> <http://www.marketwatch.com/news/story/evidence-bad-management-plain-sight/story.aspx?guid=%7BECCA73E0%2D6623%2D47CA%2D89B6%2DC3DE7CA509E0%7D>
Duh! Your link says
"Now, is Home Depot done for? I don't think so. It has a good brand and
market position, though a bit tarnished lately. It certainly seems a value
at 12 times earnings, low double-digit sales growth and a relatively solid
(for retail) 7% net profit margin"
With a little research you will find sales increased around 100% and profits
around 106% under his watch...as in more than doubled in 6 years.
Many investors or stockholders care more about current share price than
company fundamentals.....remember the dot.com boom and resultant bust? Many
"wise" investors plunked billions into flaky not ever profitable soon to not
exist companies.
While in principle I deplore "excessive" corporate salaries I don't fault
the guy for getting what he can but rather the "investors" for signing the
contract...they offered, he accepted.....is he really supposed to refuse
after the fact? Rod
B A R R Y wrote:
> Kate wrote:
>> "Lloyd E. Sponenburgh" <[email protected]> wrote in message
>>
>> Mine _always_ had keyless entry... Just reach through one of the many
>> holes in the rag, and open'er'up.
>>
>> LLoyd
>>
>>
>> LOL... or just unzip it.
>> K.
>>
>>
>
>
> That's the kind of stuff that made "There's only one Jeep" true.
So what you are saying is that everybody borrows it when they need it?
;-)
--
If you're going to be dumb, you better be tough
Too_Many_Tools wrote:
>
> Try looking at this comparsion between HD and Lowes....
>
> http://www.usatoday.com/money/industries/retail/2007-01-03-hd-nardelli_x.htm
>
> It doesn't look like they were doing that good.
>
> And let us not forget that we have just finished the biggest building
> boom in decades....which would make even a poorly run company look
> good...for awhile.
>
> TMT
You still have not presented anything other than his well known low stock
price appreciation.....Doubling sales and a more than doubling of profits
and a healthy profit retail profit percentage is not by any rational
definition a poorly run company......I would suggest that the stock price
had flown so high prior to his arrival that the market had eventually wised
up and let the price catch up a bit with reality. One may note that
Microsoft's stock price has languished as well for quite a few years and yet
they have extreme profits, growth and market share.
Whether you like, hate or detest HD or whether you think Nardelli is a over
paid boob is obviously your prerogative or choice but it doesn't impact his
actual job performance facts...... Rod
On Tue, 07 Aug 2007 16:06:07 -0700, Rod & Betty Jo wrote:
> B A R R Y wrote:
>> Proctologically Violated©® wrote:
>>> I spoke to some big-whigs at HD who implied fukn Nardelli left HD in
>>> shambles.
>>
>> The financial press pretty much made that clear.
>
> Actually the stock price languished but gross sales and profits rose quite
> substantially, the actually fiscal health of the company improved during his
> tenure....does one properly fiscally judge a company by actual operations or
> investor exuberance (subject to change on a whim)?
>
> As a consumer one might rightfully complain about service, employees or
> even his salary but consumers kept buying and HD made more money under his
> leadership. Rod
HD didn't make more money from retail. His "leadership" lead to the
increasing competitiveness of Lowe's in geographical areas where HD
originally had a complete lock-in on retail sales. HD stock peaked about
the middle of 2004 and hasn't really gone anywhere since - actually a
slight downward trend is present. So cosumers probably quit buying in the
raw numbers that HD once saw. Their costumer support became characterized
by willing (well sometimes) but ignorant lots who specialized in blank
looks and ignorance.
RIDGID, BTW, is generally associated with HD, but talking to their support
leads to the conclusion that they wish they weren't. I need ed a new set
if knives for my 13-inch plainer and ultimately had to go through a phone
call to RIDGID support because the new numb-nuts approach to special orders
and support at HD resulted in nothing but exclamations of ignorance. I
would not be surprised to see RIDGID looking for some new distribution
channels if HD stays the present course.
J
On Wed, 08 Aug 2007 07:37:15 -0400, B A R R Y wrote:
> Rod & Betty Jo wrote:
>
>>
>> You still have not presented anything other than his well known low stock
>> price appreciation.....Doubling sales and a more than doubling of profits
>> and a healthy profit retail profit percentage is not by any rational
>> definition a poorly run company......
>
> Vs. Lowes...
>
> Apples to apples:
>
> <http://www.thestreet.com/_mktwrm/s/reminder-nardelli-blew-it-at-home-depot/newsanalysis/maven/10372528.html?cm_ven=CBSM&cm_cat=FREE&cm_ite=NA>
One interesting point that appears in the article, but isn't commented on,
is the name of the new owners of Chrysler - "Cerberus Capital Management".
Cerberus is the three-headed dog that guards the gate to Hell in Greek
myth. Could this be a clue as to where Chrysler is bound?
J
B A R R Y wrote:
> Vs. Lowes...
>
> Apples to apples:
>
> http://www.thestreet.com/_mktwrm/s/reminder-nardelli-blew-it-at-home-depot/newsanalysis/maven/10372528.html?cm_ven=CBSM&cm_cat=FREE&cm_ite=NA
That article didn't actually say anything new either,..... nor did it paint
a accurate picture. In general to compare Lowes to HD you need operation
numbers, my bone of contention in this thread is not share appreciation but
rather actual company operation results....just comparing share price
appreciation means little. Lowes was or is much smaller, has many more
opportunities to move into unsaturated markets....in fact because it is so
much smaller it is much easier to both raise sales and share price. Ever
notice how often relatively "new" smaller companies will greatly exceed old
or established companies on both share appreciation and sales growth? It
does bear noting that they as well inevitably will stall and/or the share
price will plummet.....inevitably the market will correct for its oft ill
concieved exuberance. Rod
Dave Gordon wrote:
> You can always make a company look good in the short term by cutting
> back longterm projects like research, and by cutting staff and
> forcing the rest to work stupid hours. Eventually the strain shows
> and the company suffers from lack of new products and excessive key
> staff turnover. Nardelli's way is to get out before that happens,
> trousering his performance bonus.
Has happened in business many times and will again however it does not apply
to Nardelli....at all....... He had a very long, well respected career with
GE
http://www.msnbc.msn.com/id/20150129/
Welch said GE's power systems business was losing money and had trouble with
unions before Nardelli took over and invested in products, cut costs and
improved labor relations. Nardelli created joint ventures around Europe and
efficient, environmentally sensitive power products at a time when the
market demanded them, making power one of GE's most important businesses,
Welch said. "He's a global thinker," Welch said. "He delivers."
He as well in no way business wise slashed and burned HD.....sales more than
doubled and profits increased even more. He left a very healthy company that
we all love to hate....Incidentally retail operations are not well known for
heavy long term research nor particularly developing new products. Nardelli
did not receive a so called performance bonus either, remember the stock
price languished, but rather the board offered a high salary to originally
entice him and a high severance package to get rid of him...their choices
not his. In fact if he had indeed done what you imply to whatever degree one
can in a retail operation his stock price would have assuredly increased and
the "business press" would be calling him a savior instead of a goat...they
often do not respect anything other than short term share price
appreciation.....at any cost. Ever notice how the market rewards companies
that simply announce a massive layoff or have significant downsizing?
Appropriately I think it should do just the opposite....Rod
John wrote:
> One interesting point that appears in the article, but isn't commented on,
> is the name of the new owners of Chrysler - "Cerberus Capital Management".
> Cerberus is the three-headed dog that guards the gate to Hell in Greek
> myth. Could this be a clue as to where Chrysler is bound?
>
> J
I would'nt think the outside of the gate would need guarding. :-)
...lew...
Lew Hodgett wrote:
> RE: Subject
>
> Chrysler deserves the screwing they are going to get.
>
Chrysler shareholders are the ones most likely to get screwed under a
Nardelli watch. (Saying this as a 7+ year HD shareholder still waiting for
it to recover to breakeven from its price 7 years ago).
> Nardelli's idea of long range planning is, "What's for lunch?"
>
> Strictly a "slash and burn" approach.
>
Yeah, that approach works real well. I worked about a decade or so ago.
> You notice GE didn't pick him to replace Welch.
>
> Lew
Yep, and ol' Jack wasn't exactly a "kumbayah" kind of guy himself. (Any
company, that as a matter of policy believes it should have 5% of its
workforce rated as "unsat" and headed for layoff isn't exactly a "people"
place.
--
If you're going to be dumb, you better be tough
Mark & Juanita wrote:
> Lew Hodgett wrote:
>
>> RE: Subject
>>
>> Chrysler deserves the screwing they are going to get.
>>
>
> Chrysler shareholders are the ones most likely to get screwed under a
> Nardelli watch. (Saying this as a 7+ year HD shareholder still waiting
> for it to recover to breakeven from its price 7 years ago).
>
My bad, I temporarily forgot that Chrysler has been taken private.
>
--
If you're going to be dumb, you better be tough
"Dave Hinz" wrote:
> TMT doesn't let facts get in their way. GE stock was strong, then 9/11
> happened, went into a slump for a while, and is now doing very well. At
> 40 now, I don't think it went below 28 or so though, so 3/4 rather than
> half, yes.
Actually it got down to the 20-22 range for a while.
Lew
"Kate" <[email protected]> writes:
>
> *I hate to say this, but I wish it DID have keyless entry and power windows.
> I damn near ran off the road once while rolling down the passenger window,
> nearly spilled my latte and smeared mascara all over my face. Not to
> mention, when I corrected I dropped my cell phone on the passenger floor and
> had to reach for it!
Please, please, please: there's a standard convention for separating
out your new text from the text you're quoting. It's been worked out
over literally decades, and it works. It may not work as well your
new way of doing it, but it works. Suddenly seeing a post that uses a
brand-new (and, to an old-timer, completely counterintuitive) way of
quoting makes your posts really hard to read. I thank for not
top-posting, of course, but... please.
(I'd have emailed this, but you're using an invalid email address in
order to avoid spam)
"Lloyd E. Sponenburgh" <[email protected]> wrote in message
news:[email protected]...
"B A R R Y" <[email protected]> wrote in message
news:[email protected]...
> Kate wrote:
>> *Ain't NObody takin MY Jeep! Of course, I'm not in the market for a NEW
>> one for quite awhile....
>
> Neither am I.
>
> The new ones are just SUV's... 8^(
>
> What's next, keyless entry?
Mine _always_ had keyless entry... Just reach through one of the many holes
in the rag, and open'er'up.
LLoyd
LOL... or just unzip it.
K.
Kate wrote:
>
> Neither am I.
>
> The new ones are just SUV's... 8^(
>
> What's next, keyless entry?
>
> *I hate to say this, but I wish it DID have keyless entry and power windows.
> I damn near ran off the road once while rolling down the passenger window,
> nearly spilled my latte and smeared mascara all over my face. Not to
> mention, when I corrected I dropped my cell phone on the passenger floor and
> had to reach for it!
I use my cane to roll the passenger side window up or down in my '87
Ranger, just not while I'm driving.
.
--
Service to my country? Been there, Done that, and I've got my DD214 to
prove it.
Member of DAV #85.
Michael A. Terrell
Central Florida
"Too_Many_Tools" <[email protected]> wrote in message
news:[email protected]...
> Just amazing.....
>
> TMT
>
> Ex-Home Depot boss to lead New Chrysler By DEE-ANN DURBIN, AP Auto
> Writer
So now we can expect a maximum of one service tech per 50,000sq.ft. of
service bay (and he'll be "at lunch"), and that all metal parts will be made
in China. (one should inspect the back-side of each piece to make sure they
washed off all the Coke Can imprinting).
LLoyd
"Brian Elfert" <[email protected]> wrote in message
news:[email protected]...
> "Lloyd E. Sponenburgh" <[email protected]> writes:
>
>
>>So now we can expect a maximum of one service tech per 50,000sq.ft. of
>>service bay (and he'll be "at lunch"), and that all metal parts will be
>>made
>
> Service is done by licensed franchisees, not Chrysler themselves.
>
> Chrysler could crack down on warranty reimbursement I suppose.
(Cut to sound of jet plane zooming over his head...... <G>)
LLoyd
"B A R R Y" <[email protected]> wrote in message
news:[email protected]...
> Kate wrote:
>> *Ain't NObody takin MY Jeep! Of course, I'm not in the market for a NEW
>> one for quite awhile....
>
> Neither am I.
>
> The new ones are just SUV's... 8^(
>
> What's next, keyless entry?
Mine _always_ had keyless entry... Just reach through one of the many holes
in the rag, and open'er'up.
LLoyd
"Rod & Betty Jo" <[email protected]> wrote in message news:[email protected]...
>B A R R Y wrote:
>> Proctologically Violated©® wrote:
>>> I spoke to some big-whigs at HD who implied fukn Nardelli left HD in
>>> shambles.
>>
>> The financial press pretty much made that clear.
>
> Actually the stock price languished but gross sales and profits rose quite substantially, the
> actually fiscal health of the company improved during his tenure....does one properly fiscally judge
> a company by actual operations or investor exuberance (subject to change on a whim)?
>
> As a consumer one might rightfully complain about service, employees or even his salary but
> consumers kept buying and HD made more money under his leadership. Rod
You can always make a company look good in the short term by cutting back longterm projects like
research, and by cutting staff and forcing the rest to work stupid hours. Eventually the strain shows
and the company suffers from lack of new products and excessive key staff turnover. Nardelli's way is
to get out before that happens, trousering his performance bonus.
"Too_Many_Tools" <[email protected]> wrote in message
news:[email protected]...
On Aug 7, 6:06 pm, "Rod & Betty Jo" <[email protected]> wrote:
> B A R R Y wrote:
>
> > Proctologically Violated©® wrote:
> >> I spoke to some big-whigs at HD who implied fukn Nardelli left HD in
> >> shambles.
>
> > The financial press pretty much made that clear.
>
> Actually the stock price languished but gross sales and profits rose quite
> substantially, the actually fiscal health of the company improved during his
> tenure....does one properly fiscally judge a company by actual operations or
> investor exuberance (subject to change on a whim)?
>
> As a consumer one might rightfully complain about service, employees or
> even his salary but consumers kept buying and HD made more money under his
> leadership. Rod
And yet another...
http://www.businessweek.com/innovate/NussbaumOnDesign/archives/2007/08/picking_robert.html
"Picking Robert Nardelli to Save Chrysler Is The Most Bone-Headed Idea
Of 2007."
I don't know if it is the MOST bone-headed idea....I think Bush has
the corner on that prize.
There's Bush first and daylight second on that one.
"Kate" <[email protected]> wrote in message
news:[email protected]...
>
> *I hate to say this, but I wish it DID have keyless entry and power
> windows.
> I damn near ran off the road once while rolling down the passenger window,
> nearly spilled my latte and smeared mascara all over my face. Not to
> mention, when I corrected I dropped my cell phone on the passenger floor
> and
> had to reach for it!
>
Shoulda just told the kid to jump down there and get it. Oh - you're one of
those moms who won't tell their kids anything, huh?
--
-Mike-
[email protected]
On Wed, 8 Aug 2007 19:43:41 -0700, Lew Hodgett <[email protected]> wrote:
>
> "Too_Many_Tools" wrote
>
>> Nor has GE recovered from the Welch Effect.
>
> GE today is worth about 2/3 of what it was when Welch left and that has only
> happened in the last quarter.
> Prior to that it was lucky to be worth 1/2 for the lat 5 years.
TMT doesn't let facts get in their way. GE stock was strong, then 9/11
happened, went into a slump for a while, and is now doing very well. At
40 now, I don't think it went below 28 or so though, so 3/4 rather than
half, yes.
Dave "got a bit of it...and a few years there" Hinz
On Thu, 9 Aug 2007 22:47:17 -0700, Lew Hodgett <[email protected]> wrote:
>
> "Dave Hinz" wrote:
>> TMT doesn't let facts get in their way. GE stock was strong, then 9/11
>> happened, went into a slump for a while, and is now doing very well. At
>> 40 now, I don't think it went below 28 or so though, so 3/4 rather than
>> half, yes.
>
> Actually it got down to the 20-22 range for a while.
Hmm. would you look at that. It's also worth noting that I left GE in
2002, came back in 2006. Which corresponds with the dip in stock price.
Perhaps I should graph that out before my next performance review...
On Wed, 08 Aug 2007 19:51:44 -0000, John <[email protected]>
wrote:
>On Wed, 08 Aug 2007 07:37:15 -0400, B A R R Y wrote:
>
>> Rod & Betty Jo wrote:
>>
>>>
>>> You still have not presented anything other than his well known low stock
>>> price appreciation.....Doubling sales and a more than doubling of profits
>>> and a healthy profit retail profit percentage is not by any rational
>>> definition a poorly run company......
>>
>> Vs. Lowes...
>>
>> Apples to apples:
>>
>> <http://www.thestreet.com/_mktwrm/s/reminder-nardelli-blew-it-at-home-depot/newsanalysis/maven/10372528.html?cm_ven=CBSM&cm_cat=FREE&cm_ite=NA>
>
>One interesting point that appears in the article, but isn't commented on,
>is the name of the new owners of Chrysler - "Cerberus Capital Management".
>Cerberus is the three-headed dog that guards the gate to Hell in Greek
>myth. Could this be a clue as to where Chrysler is bound?
>
>J
=========================
Cerberus is out to make money for its investors, lots of money
and in a short time.
This does not mean that Cerberus is immoral or criminal, just
that its interests and those of Chrysler's employees and other
stake holders such as the supplier, host communities, and the
general public are diverging at a rapid and accelerating rate.
Now that Chrysler has been take private, and the need to maintain
and as possible increase the fictitious stock price and deal with
naive investors has been removed, it is likely that Nardeli will
be exactly what is required to maximize the discounted cash flow
and IRR for Cerberus. The continued existence of Chrysler as a
corporation may or may not maximize these returns.
From the point of view of persons not employed by Chrysler nor
its suppliers, the danger is the cascade of credit problems based
on derivatives such as "credit swaps," (even if you have never
owned a single share of chrysler stock or a single bond) and the
transfer of a significant portion of Chrysler's retirement
obligations for both income and medical care first to the
remaining solvent companies and then to the general tax payers
through the PBGC and Medicare. The retirees will simply lose the
rest.
IMNSHO Chrysler is now doomed to "crash and burn." The only
question is how much collateral damage will be inflicted by this
train wreck.
Fox news/cnn quoted Lee Iacocca as being in shock from the Nardelli appt.
Mebbe chrysler will start using Home Depot parts.
--
------
Mr. P.V.'d (formerly Droll Troll), Yonkers, NY
Stop Corruption in Congress & Send the Ultimate Message:
Absolutely Vote, but NOT for a Democrat or a Republican.
Ending Corruption in Congress is the *Single Best Way*
to Materially Improve Your Family's Life.
The Solution is so simple--and inexpensive!
entropic3.14decay at optonline2.718 dot net; remove pi and e to reply--ie,
all d'numbuhs
"Too_Many_Tools" <[email protected]> wrote in message
news:[email protected]...
> Just amazing.....
>
> TMT
>
> Ex-Home Depot boss to lead New Chrysler By DEE-ANN DURBIN, AP Auto
> Writer
>
> Chrysler began its new life as a private company on Monday with an
> auto-industry outsider taking the wheel.
>
> Bob Nardelli, who left Home Depot in January after a shareholder
> rebellion over his outsized pay, was named to head the company,
> replacing Tom LaSorda, who is taking the No. 2 slot.
>
> Nardelli and LaSorda shared a handshake and posed for pictures during
> a celebratory event at Chrysler's headquarters in Auburn Hills.
>
> "We'll move forward with speed and a renewed focus on meeting the
> needs of our customers," Nardelli said.
>
> Some wondered what effect Nardelli's hiring would have on ongoing
> contract talks with the United Auto Workers, but Nardelli was quick to
> point out Monday that union President Ron Gettelfinger already has
> been contacted about the executive shake-up at Chrysler in a two-hour
> meeting.
>
> LaSorda, Chrysler LLC's newly named president and vice chairman, still
> will be at the forefront of "what could be a landmark negotiating
> period" not only for Chrysler, but for the auto industry, Nardelli
> said.
>
> Like other U.S. auto companies, Chrysler has been struggling to make a
> profit while sales were falling and pension and retiree health costs
> were rising.
>
> Chrysler made $1.8 billion in 2005 but lost $618 million in 2006 and
> $1.98 billion before interest and taxes in the first quarter of this
> year. DaimlerChrysler didn't report second-quarter earnings for
> Chrysler because of the impending sale.
>
> Chrysler also said Monday that following a nine-year hiatus, the
> Pentastar is coming back as the corporate mark for the company. First
> used as a logo in 1962, the five-pointed star is returning with a
> three-dimensional update. The symbol will be used on buildings,
> signage and corporate stationery.
>
> Former Chrysler executive Wolfgang Bernhard, a senior adviser to
> Cerberus, had been widely expected to be named chairman. He was
> offered a position with the company but elected not to accept it.
>
> On Friday, DaimlerChrysler AG transferred an 80.1 percent stake in
> Chrysler to New York-based Cerberus Capital Management LP, one of the
> world's largest private equity companies, in a $7.4 billion deal. The
> German automaker, which is to be renamed Daimler AG, retained a 19.9
> percent interest in Chrysler.
>
> Cerberus Chairman John Snow previously had said Cerberus planned to
> keep Chrysler's management team in place and give it the freedom to
> implement its restructuring plan, which currently calls for shedding
> 13,000 hourly and salaried jobs in the U.S. and Canada by 2009.
>
> Nardelli helped increase revenue and profits at Home Depot and boost
> the number of stores the company operates. But he resigned from the
> company after it came under intense criticism for his hefty pay and
> slumping stock price. Nardelli left Home Depot with a golden parachute
> worth $210 million.
>
> Nardelli said Monday that his compensation at Chrysler would be based
> on the company's performance.
>
> Besides Nardelli and LaSorda, the 11-member Chrysler board now
> includes representatives from Cerberus and DaimlerChrysler, as well as
> independent directors.
>
> Chrysler's chief operating officer, Eric Ridenour, decided to leave
> the automaker after 23 years, Chrysler said.
>
> ___
>
> Associated Press Writer David N. Goodman in Detroit contributed to
> this report.
>
"B A R R Y" <[email protected]> wrote in message
news:[email protected]...
Kate wrote:
>
> *Ain't NObody takin MY Jeep! Of course, I'm not in the market for a NEW
> one
> for quite awhile....
Neither am I.
The new ones are just SUV's... 8^(
What's next, keyless entry?
*I hate to say this, but I wish it DID have keyless entry and power windows.
I damn near ran off the road once while rolling down the passenger window,
nearly spilled my latte and smeared mascara all over my face. Not to
mention, when I corrected I dropped my cell phone on the passenger floor and
had to reach for it!
(kidding, just kidding)
--
Kate
______
/l ,[____],
l-L -OlllllllO-
()_)-()_)--)_)
"Never let a stranger in your cab, your house, your life - unless he is a
frind of labor"
Jimmy Hoffa
-----------
"Too_Many_Tools" <[email protected]> wrote in message
news:[email protected]...
On Aug 6, 4:52 pm, "Proctologically Violated©®"
<[email protected]> wrote:
> Fox news/cnn quoted Lee Iacocca as being in shock from the Nardelli appt.
>
> Mebbe chrysler will start using Home Depot parts.
> --
> ------
> Mr. P.V.'d (formerly Droll Troll), Yonkers, NY
>
> Stop Corruption in Congress & Send the Ultimate Message:
> Absolutely Vote, but NOT for a Democrat or a Republican.
> Ending Corruption in Congress is the *Single Best Way*
> to Materially Improve Your Family's Life.
> The Solution is so simple--and inexpensive!
>
> entropic3.14decay at optonline2.718 dot net; remove pi and e to reply--ie,
> all d'numbuhs
>
> "Too_Many_Tools" <[email protected]> wrote in message
>
> news:[email protected]...
>
>
>
> > Just amazing.....
>
> > TMT
>
> > Ex-Home Depot boss to lead New Chrysler By DEE-ANN DURBIN, AP Auto
> > Writer
>
> > Chrysler began its new life as a private company on Monday with an
> > auto-industry outsider taking the wheel.
>
> > Bob Nardelli, who left Home Depot in January after a shareholder
> > rebellion over his outsized pay, was named to head the company,
> > replacing Tom LaSorda, who is taking the No. 2 slot.
>
> > Nardelli and LaSorda shared a handshake and posed for pictures during
> > a celebratory event at Chrysler's headquarters in Auburn Hills.
>
> > "We'll move forward with speed and a renewed focus on meeting the
> > needs of our customers," Nardelli said.
>
> > Some wondered what effect Nardelli's hiring would have on ongoing
> > contract talks with the United Auto Workers, but Nardelli was quick to
> > point out Monday that union President Ron Gettelfinger already has
> > been contacted about the executive shake-up at Chrysler in a two-hour
> > meeting.
>
> > LaSorda, Chrysler LLC's newly named president and vice chairman, still
> > will be at the forefront of "what could be a landmark negotiating
> > period" not only for Chrysler, but for the auto industry, Nardelli
> > said.
>
> > Like other U.S. auto companies, Chrysler has been struggling to make a
> > profit while sales were falling and pension and retiree health costs
> > were rising.
>
> > Chrysler made $1.8 billion in 2005 but lost $618 million in 2006 and
> > $1.98 billion before interest and taxes in the first quarter of this
> > year. DaimlerChrysler didn't report second-quarter earnings for
> > Chrysler because of the impending sale.
>
> > Chrysler also said Monday that following a nine-year hiatus, the
> > Pentastar is coming back as the corporate mark for the company. First
> > used as a logo in 1962, the five-pointed star is returning with a
> > three-dimensional update. The symbol will be used on buildings,
> > signage and corporate stationery.
>
> > Former Chrysler executive Wolfgang Bernhard, a senior adviser to
> > Cerberus, had been widely expected to be named chairman. He was
> > offered a position with the company but elected not to accept it.
>
> > On Friday, DaimlerChrysler AG transferred an 80.1 percent stake in
> > Chrysler to New York-based Cerberus Capital Management LP, one of the
> > world's largest private equity companies, in a $7.4 billion deal. The
> > German automaker, which is to be renamed Daimler AG, retained a 19.9
> > percent interest in Chrysler.
>
> > Cerberus Chairman John Snow previously had said Cerberus planned to
> > keep Chrysler's management team in place and give it the freedom to
> > implement its restructuring plan, which currently calls for shedding
> > 13,000 hourly and salaried jobs in the U.S. and Canada by 2009.
>
> > Nardelli helped increase revenue and profits at Home Depot and boost
> > the number of stores the company operates. But he resigned from the
> > company after it came under intense criticism for his hefty pay and
> > slumping stock price. Nardelli left Home Depot with a golden parachute
> > worth $210 million.
>
> > Nardelli said Monday that his compensation at Chrysler would be based
> > on the company's performance.
>
> > Besides Nardelli and LaSorda, the 11-member Chrysler board now
> > includes representatives from Cerberus and DaimlerChrysler, as well as
> > independent directors.
>
> > Chrysler's chief operating officer, Eric Ridenour, decided to leave
> > the automaker after 23 years, Chrysler said.
>
> > ___
>
> > Associated Press Writer David N. Goodman in Detroit contributed to
> > this report.- Hide quoted text -
>
> - Show quoted text -
I wonder how long it will take before the US Government will have to
pick up the Chrysler pension obiligation?
======================
Well, if they do, they'll at least know where it went--right into fuknBob
Nardelli's off-shore bank accounts.
--
------
Mr. P.V.'d (formerly Droll Troll), Yonkers, NY
Stop Corruption in Congress & Send the Ultimate Message:
Absolutely Vote, but NOT for a Democrat or a Republican.
Ending Corruption in Congress is the *Single Best Way*
to Materially Improve Your Family's Life.
The Solution is so simple--and inexpensive!
entropic3.14decay at optonline2.718 dot net; remove pi and e to reply--ie,
all d'numbuhs
TMT
Kate wrote:
> "Lloyd E. Sponenburgh" <[email protected]> wrote in message
>
> Mine _always_ had keyless entry... Just reach through one of the many holes
> in the rag, and open'er'up.
>
> LLoyd
>
>
> LOL... or just unzip it.
> K.
>
>
That's the kind of stuff that made "There's only one Jeep" true.
"Mike Marlow" <[email protected]> wrote in message
news:[email protected]...
"Kate" <[email protected]> wrote in message
news:[email protected]...
>
> *I hate to say this, but I wish it DID have keyless entry and power
> windows.
> I damn near ran off the road once while rolling down the passenger window,
> nearly spilled my latte and smeared mascara all over my face. Not to
> mention, when I corrected I dropped my cell phone on the passenger floor
> and
> had to reach for it!
>
Shoulda just told the kid to jump down there and get it. Oh - you're one of
those moms who won't tell their kids anything, huh?
--
-Mike-
[email protected]
Ohhh.. you can trust me on this one Mike, when this mom talks, they listen,
or else.
My kids are all grown and they STILL pay attention, I'm teaching the next
generation now. My 4 year old grandson.
--
Kate
______
/l ,[____],
l-L -OlllllllO-
()_)-()_)--)_)
The shortest distance between two points,
can be a lot more fun in a Jeep!
Well,
We could start with one major differnece...
Auto workers are union, Home Depot is very anti union....
and they get pretty well screwed allot of the time too.
--
Kate
______
/l ,[____],
l-L -OlllllllO-
()_)-()_)--)_)
"Never let a stranger in your cab, your house, your life - unless he is a
frind of labor"
Jimmy Hoffa
On Mon, 06 Aug 2007 09:20:17 -0700, Too_Many_Tools
<[email protected]> wrote:
[snip]
>Chrysler also said Monday that following a nine-year hiatus, the
>Pentastar is coming back as the corporate mark for the company. First
>used as a logo in 1962, the five-pointed star is returning with a
>three-dimensional update. The symbol will be used on buildings,
>signage and corporate stationery.
I wonder how earnings might be improved if we left all the building
sings alone? Stationery should be printed on local lasers JIT to
further help.
--
LRod
Master Woodbutcher and seasoned termite
Shamelessly whoring my website since 1999
http://www.woodbutcher.net
Proud participant of rec.woodworking since February, 1997
email addy de-spam-ified due to 1,000 spams per month.
If you can't figure out how to use it, I probably wouldn't
care to correspond with you anyway.
"Too_Many_Tools" <[email protected]> wrote in message
news:[email protected]...
> Just amazing.....
>
> TMT
>
> Ex-Home Depot boss to lead New Chrysler By DEE-ANN DURBIN, AP Auto
> Writer
> On Friday, DaimlerChrysler AG transferred an 80.1 percent stake in
> Chrysler to New York-based Cerberus Capital Management LP, one of the
> world's largest private equity companies, in a $7.4 billion deal. The
> German automaker, which is to be renamed Daimler AG, retained a 19.9
> percent interest in Chrysler.
>
> Cerberus Chairman John Snow previously had said Cerberus planned to
> keep Chrysler's management team in place and give it the freedom to
> implement its restructuring plan, which currently calls for shedding
> 13,000 hourly and salaried jobs in the U.S. and Canada by 2009.
There goes Mopar- John Snow is notorious for the mess he made of CSX during
and after the Conrail merger.
Snow has a talent for getting out just before the roof caves in.
-Carl
On Tue, 7 Aug 2007 16:06:07 -0700, "Rod & Betty Jo"
<[email protected]> wrote:
>
> As a consumer one might rightfully complain about service, employees or
>even his salary but consumers kept buying and HD made more money under his
>leadership. Rod
That's not what I read on cbs.marketwatch.com and in the "Wall Street
Journal":
<http://www.marketwatch.com/news/story/nardelli-poised-tackle-lengthy-chrysler/story.aspx?guid=%7BF16A2E7F%2D99F9%2D4D0C%2D9B5D%2D3470323FB5D4%7D>
It was essentially the stockholders (remember them, the OWNERS?) who
fired him. If the company was so profitable, I doubt the shareholders
would have driven him out. Shareholders usually LOVE mavericks who
return results. The only results Nardelli returned were to his own
net worth.
Got any news that proves otherwise?
How about this?
<http://www.marketwatch.com/news/story/evidence-bad-management-plain-sight/story.aspx?guid=%7BECCA73E0%2D6623%2D47CA%2D89B6%2DC3DE7CA509E0%7D>
---------------------------------------------
** http://www.bburke.com/woodworking.html **
---------------------------------------------
"Too_Many_Tools" <[email protected]> wrote >
*some sniping for clarity*
Typicial approach is to starve the dealers and franchisees....to raise
Chrysler's share of the take and of course the CEO's bonus.
*I heard on the news last night that they are not going to pay him unless he
does the job right.
Google the sad story of Home Depot's decline under this guy....he was
forced out for driving Home Depot, its staff and its suppliers into
the ground....meanwhile he was raping the company for his own benefit.
*You don't have to google it, you can just SEE it every time you walk into
one of their stores. The decline is evident.
They did not hire this guy to raise the public's confidence in
Chrysler...I suspect he will gut the company.
* I agree completely.
Until I am proven wrong, I will be buying vehicles from companies from
other than Chrysler.
*Ain't NObody takin MY Jeep! Of course, I'm not in the market for a NEW one
for quite awhile....
Kate
______
/l ,[____],
l-L -OlllllllO-
()_)-()_)--)_)
"Never let a stranger in your cab, your house, your life - unless he is a
frind of labor"
Jimmy Hoffa
-----------
On Wed, 8 Aug 2007 15:16:24 +0100, "Dave Gordon" <d@p> wrote:
>"Rod & Betty Jo" <[email protected]> wrote in message news:[email protected]...
>>B A R R Y wrote:
>>> Proctologically Violated©® wrote:
>>>> I spoke to some big-whigs at HD who implied fukn Nardelli left HD in
>>>> shambles.
>>>
>>> The financial press pretty much made that clear.
>>
>> Actually the stock price languished but gross sales and profits rose quite substantially, the
>> actually fiscal health of the company improved during his tenure....does one properly fiscally judge
>> a company by actual operations or investor exuberance (subject to change on a whim)?
>>
>> As a consumer one might rightfully complain about service, employees or even his salary but
>> consumers kept buying and HD made more money under his leadership. Rod
>You can always make a company look good in the short term by cutting back longterm projects like
>research, and by cutting staff and forcing the rest to work stupid hours. Eventually the strain shows
>and the company suffers from lack of new products and excessive key staff turnover. Nardelli's way is
>to get out before that happens, trousering his performance bonus.
>
I've been told that when Lowes opens a new store they shop HD for
employees and hire away the best paying them better and reasonable
conditions. I have sure seen this in a number of areas. Just visit and
compare the two and you will see this is true. I still shop HD at
times but just because of a price.
Rod & Betty Jo wrote:
>
> With a little research you will find sales increased around 100% and profits
> around 106% under his watch...as in more than doubled in 6 years.
I posted the wrong link.
The one I MEANT to post, which is the one you should have read <G>,
compared the results to Lowes and HD was significantly behind.
Rod & Betty Jo wrote:
>
> You still have not presented anything other than his well known low stock
> price appreciation.....Doubling sales and a more than doubling of profits
> and a healthy profit retail profit percentage is not by any rational
> definition a poorly run company......
Vs. Lowes...
Apples to apples:
<http://www.thestreet.com/_mktwrm/s/reminder-nardelli-blew-it-at-home-depot/newsanalysis/maven/10372528.html?cm_ven=CBSM&cm_cat=FREE&cm_ite=NA>
I spoke to some big-whigs at HD who implied fukn Nardelli left HD in
shambles.
Which you woulda never suspected after Charlie Rose's incredible hour-long
blow job of Nardelli, who basically claimed to be the savior of Merkin
culture.
I know Charlie's jaws ached for a week.
--
------
Mr. P.V.'d (formerly Droll Troll), Yonkers, NY
Stop Corruption in Congress & Send the Ultimate Message:
Absolutely Vote, but NOT for a Democrat or a Republican.
Ending Corruption in Congress is the *Single Best Way*
to Materially Improve Your Family's Life.
The Solution is so simple--and inexpensive!
entropic3.14decay at optonline2.718 dot net; remove pi and e to reply--ie,
all d'numbuhs
"Too_Many_Tools" <[email protected]> wrote in message
news:[email protected]...
> Just amazing.....
>
> TMT
>
> Ex-Home Depot boss to lead New Chrysler By DEE-ANN DURBIN, AP Auto
> Writer
>
> Chrysler began its new life as a private company on Monday with an
> auto-industry outsider taking the wheel.
>
> Bob Nardelli, who left Home Depot in January after a shareholder
> rebellion over his outsized pay, was named to head the company,
> replacing Tom LaSorda, who is taking the No. 2 slot.
>
> Nardelli and LaSorda shared a handshake and posed for pictures during
> a celebratory event at Chrysler's headquarters in Auburn Hills.
>
> "We'll move forward with speed and a renewed focus on meeting the
> needs of our customers," Nardelli said.
>
> Some wondered what effect Nardelli's hiring would have on ongoing
> contract talks with the United Auto Workers, but Nardelli was quick to
> point out Monday that union President Ron Gettelfinger already has
> been contacted about the executive shake-up at Chrysler in a two-hour
> meeting.
>
> LaSorda, Chrysler LLC's newly named president and vice chairman, still
> will be at the forefront of "what could be a landmark negotiating
> period" not only for Chrysler, but for the auto industry, Nardelli
> said.
>
> Like other U.S. auto companies, Chrysler has been struggling to make a
> profit while sales were falling and pension and retiree health costs
> were rising.
>
> Chrysler made $1.8 billion in 2005 but lost $618 million in 2006 and
> $1.98 billion before interest and taxes in the first quarter of this
> year. DaimlerChrysler didn't report second-quarter earnings for
> Chrysler because of the impending sale.
>
> Chrysler also said Monday that following a nine-year hiatus, the
> Pentastar is coming back as the corporate mark for the company. First
> used as a logo in 1962, the five-pointed star is returning with a
> three-dimensional update. The symbol will be used on buildings,
> signage and corporate stationery.
>
> Former Chrysler executive Wolfgang Bernhard, a senior adviser to
> Cerberus, had been widely expected to be named chairman. He was
> offered a position with the company but elected not to accept it.
>
> On Friday, DaimlerChrysler AG transferred an 80.1 percent stake in
> Chrysler to New York-based Cerberus Capital Management LP, one of the
> world's largest private equity companies, in a $7.4 billion deal. The
> German automaker, which is to be renamed Daimler AG, retained a 19.9
> percent interest in Chrysler.
>
> Cerberus Chairman John Snow previously had said Cerberus planned to
> keep Chrysler's management team in place and give it the freedom to
> implement its restructuring plan, which currently calls for shedding
> 13,000 hourly and salaried jobs in the U.S. and Canada by 2009.
>
> Nardelli helped increase revenue and profits at Home Depot and boost
> the number of stores the company operates. But he resigned from the
> company after it came under intense criticism for his hefty pay and
> slumping stock price. Nardelli left Home Depot with a golden parachute
> worth $210 million.
>
> Nardelli said Monday that his compensation at Chrysler would be based
> on the company's performance.
>
> Besides Nardelli and LaSorda, the 11-member Chrysler board now
> includes representatives from Cerberus and DaimlerChrysler, as well as
> independent directors.
>
> Chrysler's chief operating officer, Eric Ridenour, decided to leave
> the automaker after 23 years, Chrysler said.
>
> ___
>
> Associated Press Writer David N. Goodman in Detroit contributed to
> this report.
>