Chrysler: Damn We're Fast! Oh, and We'll Strip & Flip By Xmas
rescued Daimler bought Chrysler, pundits predicted a radical reinvention. Oh well. But that hasn't stopped the irrepressible Jason Vines. Chrysler's Spinmeister's got another story to tell, and T he Financial Times is happy to tell it: "Chrysler cuts a dash with speed and decisiveness." Aside from the six-hour resolution to the United Auto Workers' strikelet, "signs of the new urgency include a swift move to bring down swollen inventories of slow-selling models. Five plants were idled last week, and four will shut this week… According to Mr Press, the production cutback was sealed during a seven-minute conference call between Mr Nardelli and a Cerberus executive." (Did we tell you that phone call would be PR fodder?) Other than that, "Frank Klegon, head of product development, observes that Mr Nardelli 'lets me know what he thinks, a lot.'" And Steven Landry, head of North American sales, says “they want to fix things quick." The FT buries the real bombshell (as have we) for the end of the piece. Speaking at the National Automobile Dealers Association in Vegas, Chrysler CEO Bob Nardelli answered a dealer's questions about the possibility of Cerberus "spinning off" Chrysler bits and pieces. "While he did not exclude a future spin-off, he said Cerberus would wait at least until Chrysler is once again profitable." Huh.