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THE MUSINGS OF A TRADITIONAL SOUTHERN DEMOCRAT

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Location: Douglas, Coffee Co., The Other Georgia, United States

Sid in his law office where he sits when meeting with clients. Observant eyes will notice the statuette of one of Sid's favorite Democrats.

Sunday, October 25, 2009

This is the only article about Chrysler I enjoyed reading since Fiat's involvement: Chrysler Board Flexes Its Muscle, Showing Independence From Fiat

From The Wall Street Journal:

The new board of directors at Chrysler Group LLC is pushing back against the company's aggressive chief executive, showing signs it won't simply rubber-stamp Fiat SpA's plans to revamp the car maker.

Chrysler's board has maintained a low profile since the company emerged from bankruptcy reorganization in June and until now few indications of its style have emerged. This contrasts with the visible and activist approach being taken by the revamped board at General Motors Co.

But in an interview, Chrysler Chairman C. Robert Kidder said he spends an average of three days a week at Chrysler, often meeting with senior executives to raise questions about the company's strategy.

Chrysler has long "deserved an engaged, independent board,'' said Jeffrey Sonnenfeld, a senior associate dean at Yale University's School of Management. "It sounds like they finally got one.''

One reason Chrysler's board is likely to have lively debates is its highly unusual nature. Its members were chosen by four constituents that have a stake in the company: the U.S. government, which lent Chrysler $12 billion and got to appoint four directors; Fiat, which got three directors in exchange for technology and management; a health-care trust for the United Auto Workers union, which agreed to cost cuts and received one director; and the Canadian government, which also lent Chrysler money and got a director.

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