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 [...]
In his tell-all book due out this fall, former Car Czar Steven Rattner reveals how Chrysler came within a hair of going the way of Lehman Brothers, and being allowed to fail. A majority if the auto task force actually voted against offering aid to Chrysler, and it was only after a tense meeting with [...]
Former Chairman and CEO Bob Nardelli, who will be returning to his duties at Cerberus Capital Management, sent the following farewell letter to Chrysler employees: Dear Employees, Congratulations! I am pleased to report that we have closed the alliance agreement between Chrysler Group LLC and Fiat S.p.A. and have emerged from bankruptcy in record time. [...]
As reported last night, the Supreme Court approved the sale of Chrysler LLC to Fiat SpA after the process faced delays earlier this week. Today, Chrysler completed the sale of its strongest assets to Fiat SpA into a new company known as Chrysler Group LLC. The new company will begin operations immediately. Fiat CEO Sergio [...]
Last month when Chrysler listed most of its $2 billion assets in bankruptcy court, the Auburn Hills automaker said that it didn’t have any firm offers for its Viper brand, which was put up for sale last August. The only offer that Chrysler listed was a $5.5 billion bid by Devon Motors Works. Now there [...]
Chrysler’s CEO Bob Nardelli said today that he expects the sale of the automaker’s assets to a new company to be completed by Friday. He said that regulatory approvals will be finalized and he will step down as the company’s CEO. Nardelli said that he plans on returning to his former post at Cerberus Capital [...]
For the record – Sergio Marchionne lied to all of us. Earlier this month, the Fiat CEO said that he will become CEO of Chrysler after it emerges from bankruptcy in 60 days. Well, that wasn’t true. Chrysler officially announced today that C. Robert Kidder, former Chairman of Borden Chemical Inc. and Duracell International Inc., [...]
On April 30th, Chrysler’s CEO Bob Nardelli said that he will be stepping down after Chrysler emerges from bankruptcy. He said that following Chapt. 11 hearings, the U.S. government will select six board members, while Fiat will select three. That new board would select a new CEO for the new company, Nardelli said. Well, Chrysler [...]
So you think you have what it takes to become Chairman and CEO of Chrysler LLC and replace the soon-to-be-former CEO Bob Nardelli. Well, you better be ready to have your salary capped without the likeliness of receiving any additional compensation. Whoever replaces Bob Nardelli will have the tough job of rebuilding Chrysler with Fiat technology, [...]
During our live blogging session earlier this morning, Chrysler CEO Bob Nardelli said that he will be stepping down from his position after the company emerges from bankruptcy. He made it clear that the decision was his own and that the U.S. Treasury had not asked him to resign. According to AutoObserver, Nardelli will return as [...]
