Wagoner Is Out. Is Nardelli Next?

My congratulations to President and his administration. They did the right thing: GM CEO Rick Wagoner had to go before government commits more money to saving the company. I wrote here that before government commits any money, Wagoner has to go.

I still think that GM can't survive as is, with or without Wagoner. It needs deep restructuring, something that would be like chapter 11 bankruptcy.

Now it's time for Nardelli. Chrysler thinks that it can survive by combining with FIAT and becoming mostly FIAT superdealer. Maybe. But Nardelli has to go. He doesn't have qualifications to run auto company. He doesn't have any qualifications to run any company. He was middle manager at General Electric (GE) and his CEO experience at Home Depot (HD) was a total disaster for a company, including 200+ million golden parachute.

Full disclosure: at the time of publication author did not have positions in any companies mentioned. Positions can change any time.