Remember Bob Nardelli – the ex CEO of Chrysler. Well, Nardelli thinks that the Obama administration didn’t need to give Chrysler over to Italian automaker Fiat SpA in order to save the Auburn Hills automaker. Apparently, Nardelli believes that his private equity firm Cerberus Capital would have done a better job in bringing Chrysler back from death.
Nardelli, who stepped down from his CEO position at Chrysler in 2009, says he ‘laments all the time’ that private equity firm Cerberus, for which he still works, is no longer running Chrysler.
“If the government gave us the deal they gave Fiat, we’d be doing just fine — really,” Nardelli said in an interview with The Detroit News. “There was no reason for the government to give Chrysler away.”
He said that Chrysler would be faring “just as well, maybe better” under Cerberus.
Back in March 2009, the U.S. government rejected Cerberus turnaround bid for Chrysler and its request for $5 billion in aid. It then forced Chrysler to team up with Fiat, which now holds a controlling stake.
We think Chrysler is doing just wonderful right now.
– By: Omar Rana
Source: Detroit News