Spinning Top

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What a difference a day makes! Just yesterday Bob Nardelli was ringing his hands ready to sell the family farm for fear that the bank would be looking to take his deed. (See the “Who’s going to save the Savior” post) Today, rose colored glasses were handed out at Chrysler as a statement came out late this afternoon saying all is well despite Nardelli’s grim recent assessments.

The only thing that might have been grim was the way Nardelli was probably spoken to off the record concerning his announced strategy of land for cash. The PR hacks had to burn the midnight oil to churn this spinning top out.

I guess the new strategy is to blame journalists for the company’s ills and lead us to believe that Bob Nardelli had a body double responding to a journalist questions. At a meeting earlier this month, chief executive Bob Nardelli told employees the company is headed for a substantial loss this year and is trying to sell assets to raise cash.
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Who’s going to Save the Savior?

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I think many at Chrysler were getting a little delusional. Cerberus seemed to be a fairy godmother that would arrive on a white horse, wave a wand, and produce gold specks gently falling from the sky, bathed in bright light, that would help to alleviate all woes and woeful products.

Reality has come to Fairyland as Chrysler has slipped into a major financial funk just a few months into Cerberus Capital being crowned King of the ailing automaker.

At a meeting earlier this month, chief executive Bob Nardelli told employees the company is headed for a substantial loss this year and is trying to sell assets to raise cash.
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Nardelli impacting Chrysler product

New Chrysler CEO Bob Nardelli is actively involved in the design of Chrysler vehicles…or at least he’s actively involved in questioning the design of Chrysler vehicles.

“I drive a different car to work everyday,” he said during a recent web cast. He said upon arrival at work in the company’s Auburn Hills, Mich. headquarters, he meets with the company’s chief engineer who addresses Nardelli’s questions about each vehicle. Nardelli concedes his chief engineer is very “patient.”

“I’m not a designer: I’m a consumer,” he said.
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