Chrysler CEO Bob Nardelli Preparing For Creditor Payback?

chrysler ceo bob nardelli preparing for creditor payback

The New York Post reports that Chrysler CEO Bob Nardelli “transferred a $3.8 million, four-bedroom, five-bath Los Angeles spread to his wife, Susan, on Jan. 17, 2008, according to deed records filed in Los Angeles County and recorded with the Assessor’s Office on Feb. 5, 2008.” There are only three possible reasons for this move: divorce, estate planning or a hedge (there’s that word again) against future legal action, when creditors come to call. Strangely, or not so strangely, Bob’s personal spinmeister is denying the facts of the matter. “A spokeswoman for Nardelli early today insisted the records were incorrect and no transfer took place.” The story gets curiouser and

curiouser . . . .

The Post reports that the official documents “strangely” identify Robert Nardelli as a married woman. Susan Nardelli is the official buyer of a sale listed as an “interfamily transfer and dissolution.” Bob Nardelli’s PR flack Lori McTavish admitted that “The documents obtained by the New York Post reflect several inaccuracies.” As a further demonstration of Cerberus’ well known talent for splitting hairs with inquisitive journalists, she also insisted that “Mr. Nardelli’s name was never on the deed. Therefore, a transfer of the property did not take place.” Ipso, huh?

Anyway, “Any suggestion of impropriety is completely unfounded and inappropriate.” Yeah, propriety’s a bitch. So to speak. And while you’re thinking about that and all those tens of thousands of jobs that are going away, here’s a MS Virtual Earth link to an aerial shot of the Nardelli’s Atlanta pad (is that a horse arena?).

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  • ChuckR ChuckR on Feb 10, 2009

    What is this capitalism of which you speak? It has not existed in the US for a long time. The worthless POS'es on Wall Street and in Deadtroit have socialized the consequences of their failures and privatized their personal rewards. Of course the mood is ugly - it would be less so if they'd taken the hit like good capitalists, but they were cowards regarding the personal economic consequences of their failures. OTOH, I read somewhere that socialism is the idea that much of the population is just too damn stupid to manage certain aspects of their own affairs and that therefore government must help them. By extension, the best and brightest, who all enter sacred government service with only the purest of motives, will conclude that 'certain aspects' are really just about all aspects. In so doing, they waste lives - their own as minders, and the lives of those who they mind. We have squandered the wealth of our country and we need productive people to restore it - people who know how to dream up things and make them real. Lawyers, bankers/financial consultants and community organizers need not apply. They have little to contribute.

  • Indi500fan Indi500fan on Feb 10, 2009

    more bonus points for red ink Rick at least he lives in town and doesn't have to spend all that time commuting

  • 285exp I am quite sure that it is a complete coincidence that they have announced a $7k price increase the same week that the current administration has passed legislation extending the $7k tax credit that was set to expire. Yep, not at all related.
  • Syke Is it possible to switch the pure EV drive on and off? Given the wonderful throttle response of an EV, I could see the desirability of this for a serious off-roader. Run straight ICE to get to your off-roading site, switch over the EV drive during the off-road section, then back to ICE for the road trip back home.
  • ToolGuy Historical Perspective Moment:• First-gen Bronco debuted in MY1966• OJ Simpson Bronco chase was in 1994• 1966 to 1994 = 28 years• 1994 to now = 28 yearsFeel old yet?
  • Ronnie Schreiber From where is all that electricity needed to power an EV transportation system going to come? Ironically, the only EV evangelist that I know of who even mentions the fragile nature of our electrical grid is Elon Musk. None of the politicians pushing EVs go anywhere near it, well, unless they are advocating for unreliable renewables like wind and solar.
  • FreedMike I just don’t see the market here - I think about 1.2% of Jeep drivers are going to be sold on the fuel cost savings here. And the fuel cost savings are pretty minimal, per the EPA: fuel costs for this vehicle are $2200 and $2750 for the equivalent base turbo-four model. I don’t get it.