Wednesday, August 20, 2008

Chrysler execs digging in for the long haul, report says

St. Louis Post-Dispatch

There has been much speculation on Wall Street that Cerberus Capital Management is planning to break up Chrysler and sell off the automaker’s most popular brands.

But an article in the New York Times makes the argument that it looks like Cerberus is going to give its management team time to get Chrysler going in the right direction.

The article points out that Chrysler sales chief Jim Press recently bought a home near Detroit and moved his family there from New York. And that CEO Bob Nardelli also is looking for a house in the area after living out of a hotel f0r a year.

The article also points to Nardelli spending time teaching leadership courses to Chrysler’s top 300 officials as a sign that he isn’t planning on jumping ship.

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