By Frank Williams
July 25, 2008
When Chrysler's employees got back from their forced "downtime," they found an email from El Jefe himself. In it, CEO Bob Nardelli welcomed them back and brought them up-to-date on what's been going on (like they hadn't been watching the news or reading TTAC). Boot "em Bob brags on things they've done, from donating to a NASCAR charity to receiving "the top ranking in the automotive industry in the NAACP's annual report card on corporate America's financial relationship with the African-American community." What's interersting: what he didn't say. While he mentions "reports on Chrysler Financial's annual process of renewing its credit conduit ," he doesn't comment on reports that say ChrysCo's in such bad straits they'll be facing much higher rates. He talks about "attractive offers" on Dodge Ram pickups– without mentioning the glut they're trying to clear. And then there's this bit about "creating partnerships and alliances to extend our portfolio, geographic reach and technology capabilities." Could Nardelli be setting-up the troops for another announcement about cutbacks, leading to a sale to Nissan or another automaker? We'll let you know as soon as we hear anything more. [thanks to you-know-who-you-are for the tip]
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POWERED
July 25th, 2008 at 1:32 pm
I just found out that Hastings, NE is the site of the invention of Kool-Aid. But I’d put up that claim against Detroit, MI anyday!
July 25th, 2008 at 1:42 pm
Well that’s one TTAC prediction down in flames: The TTAC prediction that Chrysler was going to declare Chapter 11 in the dead of night, while everyone was on forced vacation.
Well, now there’s 1 week until the next TTAC prediction date: August 2. August 2 was supposed to be the rumored date that Chrysler goes C11.
Trust me, I’m not holding my breath.
July 25th, 2008 at 1:44 pm
n/m
July 25th, 2008 at 1:48 pm
ash78
Sorted.
July 25th, 2008 at 2:02 pm
Alex,
Was that a real prediction, or more of one of those “it could happen” sort of stories?
July 25th, 2008 at 2:14 pm
One major Dodge dealer in Richmond Va announced
it was shutting down yesterday and rumour is a
big Jeep player is in serious trouble
July 25th, 2008 at 2:15 pm
Home Depot stores have improved a lot since Bob left. Almost as fast as they went down the tubes when he took over.
It shows that there is life after MBAs.
July 25th, 2008 at 2:35 pm
I also was pleased to see our Dodge Journey receive a positive review from
USA Today’s James Healy.
Bahahaha! That’s like the Bush administration getting positive reviews from Karl Rove….
July 25th, 2008 at 2:52 pm
FINANCEGUY -
I look for this to happen more. Sadly. Has anyone seen this happen near them? I haven’t yet in Central IL, but given that one dealer in town is GMC-Cadillac only, and mostly carried SUVs, I can’t believe that the future is promising. Is there any published information about dealer health these days?
July 25th, 2008 at 2:57 pm
No more leases at Chrysler dealerships.
http://online.wsj.com/article/SB121701005398185331.html?mod=hpp_us_whats_news
July 25th, 2008 at 3:21 pm
Waiting for the “Exciting News!” conference call to start…but this will thin the dealer herd in a big way.
In Detroit, it’s a leasing market, and many current Chrysler lessees can and will simply swap into a lease with GM/F/T when their lease comes due.
Well…given the GMAC is also a Cerberus holding, maybe not GM :)
July 25th, 2008 at 5:32 pm
you forgot the two year backlog of Aspens.
July 25th, 2008 at 6:02 pm
A big Dodge dealership closed in Kansas City this past month. The dealership had an extremely high traffic location, and was an ideal place for a car dealership (probably the best location in the city). It had changed ownership 3 times in the past 5 years.
July 25th, 2008 at 6:21 pm
Liger: For some reason I’m picturing Sunflower Dodge as the dealership that you’re talking about. That guy “Hap Hazard” was awesome.
July 25th, 2008 at 6:28 pm
It was McCarthy Dodge that closed, at I-435 and Metcalf. Ideal location, less than ideal product.
July 26th, 2008 at 4:49 am
Nissan wouldn’t touch Chrysler with a barge pole. They’re out to make money not pour it down the sink. Chrysler are on the brink!
July 27th, 2008 at 12:41 am
Metcalf & 435 isn’t what I would call ideal location for a dodge dealer. Little more upscale in Overland Park.
July 27th, 2008 at 7:16 am
A lot of great points in this one..
As one of my friends said. “How many companies does a CEO wreck, before you take the keys away from him