Wednesday, October 31, 2007
"Sooner or later, you're gonna listen to Ralph Nader"
On the private equity reverse-alchemy watch, yesterday wasn't a good day in the NYT for John Snow's star hire, Chrysler LLC CEO Robert Nardelli.
Micheline Maynard rocks 'im:
Mr. Nardelli... talked about the auto industry in a way that suggested he was still in a home-improvement state of mind.
“I think a vehicle today has to be your most favorite room under your roof,” Mr. Nardelli said. “I really believe that. I mean, it has to bring you gratification, it has to be tranquil. It’s incidental that it gets you from Point A to B, right?”
An automobile also needs “cup holders — some for water and some for...,” Mr. Nardelli said, but he did not finish that thought.
Er, maybe Jim Press didn't tell him that production-cutting decisions haven't exactly been weighing on Toyota execs' minds? Way to face reality, anyhow.
Apparently referring to a recently approved plan to cut fourth-quarter production by 85,000 vehicles, Mr. Nardelli said, “We made a decision in seven minutes that would have taken Toyota three months.”
(reference; this is not to suggest that Nader isn't a total knee-biter)