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.