Bob Nardelli, who did so much to enrich himself and wring shareholder value from The Home Depot, is being named as the new head of Cerberus Group's Chrysler Corporation.
This is an example of the American corporate phenomenon of failing up.
I suppose Nardelli was successful at GE. But GE is a defense contractor that owns television networks. Not real hard to be a successful arms merchant is it? At Home Depot, the stock slid while he collected billions. Put those resume stops together and, voila, you have the turnaround expert Chrysler needs.
So, here is a poem I've writ in his honor:
You must admire Bob Nardelli,
His path is straight,
His wake is smelly.
He's now the head of Chrysler Co.,
Ten thousand workers to let go.
It's great to lead a turn-around,
While driving a company
To the ground.