Who Hijacked Our Country

Tuesday, August 07, 2007

Big Fat Rewards for the Incompetent

America’s bloated corporations are some of the world’s largest breeding grounds for incompetence. Take Bob Nardelli (please!).

He's the winner who drove Home Depot into the ground when he was their CEO. On his watch, Home Depot’s stock value plummeted. When he finally left the company (at the urging of Home Depot shareholders) he was rewarded with $210 million worth of cash, benefits and stock options.

Boy, what a catch! It was just a matter of time before some lucky corporation was gonna snap him up. And the prize goes to Chrysler. Nardelli will be their new chairman and CEO. What a match.

Look out world — Chrysler is back and it’s gunning for ya.

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Blogger Suzie-Q (S-Q) said...

The more evil they are.. the more money they make!

August 7, 2007 at 6:18 PM  
Blogger Tom Harper said...

Suzie-Q(S-Q): Yup, that's about it. Evil and incompetence both seem to pay huge rewards.

August 7, 2007 at 6:21 PM  
Blogger Lizzy said...

...just another reason to buy a Toyota.

August 7, 2007 at 10:32 PM  
Blogger Tom Harper said...

Lizzy: Yeah, that's one of many reasons.

August 7, 2007 at 10:41 PM  
Blogger Snave said...

I thought Chrysler was going down the tubes anyway, when a few years ago their designs all started to look like the designers had too much testosterone in their systems. I think Dodge vehicles, even the Dodge Caliber, should all have scrotums hanging from their rear bumpers. They should rename their vehicles stuff like the Dodge Bazooka, the Dodge SAM, the Dodge Ballmaster, the Dodge Bayonet, the Dodge Mercenary, etc. And now, it looks like they have the perfect CEO. More power to 'em!

August 7, 2007 at 11:05 PM  
Blogger Tom Harper said...

Snave: I haven't followed specific auto makers that closely, but it's seemed like Chrysler has been flailing desperately for awhile now. Maybe they just want to go out with a bang instead of a whimper.

When Plymouth stopped all production, that sure didn't seem like a good sign. We have a Plymouth Neon. I'm pretty sure the Dodge Neon is identical (except for the brand name) in case we ever need new parts.

Maybe this CEO's golden parachute will be even larger when Chrysler goes under and/or he gets fired for the umpteenth time.

August 8, 2007 at 12:54 AM  
Blogger pissed off patricia said...

When I heard about this earlier this week, I couldn't believe it. Didn't they read his bio before hiring him? Let's see, it says here that he took Home Depot into the toilet. Yep, call the guy up and tell him he's hired.


August 8, 2007 at 12:07 PM  
Blogger Tom Harper said...

Pissed Off Patricia: Yeah, who knows what they're looking for when they hire a new CEO. It sure as hell isn't competence.

August 8, 2007 at 1:40 PM  
Anonymous kip152 said...

Carter gave Chrysler a second chance in order to save American jobs. Was that a mistake, too?

August 8, 2007 at 2:10 PM  
Blogger Tom Harper said...

Kip152: If you mean Lee Iacocca, I think that's different. He seemed to work hard and to really care about the company and its employees. I don't get that impression at all from Nardelli.

August 8, 2007 at 2:26 PM  
Anonymous JollyRoger said...

But the Chimpleton morons will screech "CLASS WAR!!!" if you DARE question the pay package of a CEO.

In the next breath, they'll talk about how American workers should just STFU and give up pay and benefits to the corps can stay "competitive." Boy oh boy, do I have an idea for helping out American corporations.

August 8, 2007 at 4:35 PM  
Blogger LET'S TALK said...

It seems that the rich only share among themselves. This guy is a bust and it seems that another company would be crazy to hire this guy to run anything.

August 8, 2007 at 4:50 PM  
Blogger Tom Harper said...

Jolly Roger: Yup, "class warfare," that's their favorite talking point whenever anyone mentions the humongous salaries executives get for doing absolutely nothing. And of course those lowly workers need to just STFU and tighten their belts and work harder; they're lucky they still have jobs.

Let's Talk: Yeah, it really does seem like the wealthiest 1% is a closed community that just keeps propping each other up at everybody else's expense. Who knows why this guy got hired. Maybe his application form didn't have a "Reason For Leaving" section where he had to explain why he's unemployed.

August 8, 2007 at 8:33 PM  

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