Actually : "Nardelli's resignation after seven years leading the
nation's largest home improvement chain [Home Depot] was cheered by
execuctive compensation watchdogs, who were critical of Nardelli's
outsize pay while his company's stock languished. There was additional
criticism of his $210-million [!!!] severance package.
The GOOD things, for Chrysler, is the former Secretary of the Treasury,
Cerberus' chairman/honcho, John Snow's confidence
in Nardelli's ability " ..to manage/lead manufacturing companies like
General Electric and his role in dramatically increasing the size of
Home Depot and spearheading its expansion into Mexico and China."
That's the first part; the secvond benefit, to Chrysler is :
" In a twist, the executive will be paid only if he suceeds in fixing
the struggling automaker, a person familiar with the situation said. He
won't make a dime until he turns Chrysler around".
--from L.A.Times, today.
Neil Vedder
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