Eugene David ...The One-Minute Pundit |
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Thursday, April 23, 2009
It may be tempting to see Nardelli's missteps as an indictment of the Jack Welch school of management. But.... (Hedging overemphasis added)
I didn't think so -- not at a rag where LEGENDARY's a contributor! At Home Depot, he replaced many veteran hardware guys and retired tradesmen with twentysomethings making less money. The cuts gave profits a short-term pop, but lackluster service drove away loyal customers. At Chrysler, Nardelli cut costs partly by robbing from tomorrow. Car companies are nowhere if they don't have new products in the pipeline. But he cut capital spending for new models from more than $3 billion in 2007 to $2.3 billion for the next two years. When the feds showed up to assess Chrysler's viability, they noted that Nardelli's team planned only four new models for the next five years. If it looks like LEGENDARY, smells like LEGENDARY, and RATIONALIZES like LEGENDARY, it IS LEGENDARY.
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