Chrysler’s great-grandson writes letter to Cerberus, gives advice
Great-grandson of Chrysler found Walter P. Chrysler is handing out his advice on saving the company his great-grandfather built. Frank Rhodes, Chrysler’s family’s archivist sent a letter to Stephen Feinberg, the founder of Cerberus.
According to Automotive News, the letter was addressed to Chrysler CEO Bob Nardelli, President Jim Press, members of the Congress and several news outlets. In it Rhodes gave Cerberus, which own 80.1 percent of Chrysler, three suggestions:
“¢ Tell the American public “you will be in business for the duration.”
“¢ Expand product sales targets beyond building a truck for Nissan and a minivan for Volkswagen.
“¢ Develop an inexpensive “people’s car” with “no fancy radio, no air, no frills and EASY to service.”
The letter ends with his final statement: “This is a sad period for American history, one of which should be and will be won. I am on your side. Make it work — failure is not an option.”
Source: Automotive News (Subscription Required)