In Praise of Robert Nardelli
Robert L. Nardelli, newly appointed president of Chrysler, has an excellent background to straighten out the troubled automobile company, supposedly saddled with an overpaid labor force. When shareholders of Home Depot became troubled with the amount of Mr. Nardelli’s, he was fired. Well not, quite fired, but he lost his position. As a consolation prize, the company compassionately gave him a severance package worth $210 million, some of it to offset benefits lost when he was hired from General Electric.
With this precedent in mind, Chrysler should be able to make arrangements satisfactory to its workers.