Cerebrus took Chrysler private last year. They installed Robert Nardelli as CEO. You may remember him. He was fired as CEO of Home Depot where he was cited as being among the “highest-paid chief executives of worst-performing companies.”
Oddly, Chrysler is in serious trouble now, burning through cash reserves while sales plummet. One analyst says they have months not years to engineer a turnaround.
Thet apparently are betting the company on their new version of the Dodge Ram pickup. And what, you ask, will it be like?
The new version of Chrysler’s most popular vehicle comes with satellite TV, a carlike ride and a bin in the cargo box for hauling 10 cases of beer. It’s set to go on sale in September, not the best time for a pickup that gets about 15 mpg in city driving and can cost more than $40,000.
No. I am not making this up. It’s difficult to imagine how supposed rational adults could be so clueless, but there you have it.