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Cerebrus makes a big catch (http://news.bbc.co.uk/2/hi/business/6982137.stm)

http://www.cleanmpg.com/photos/data/501/Big_4_testify_before_House_on_Air_Quality_and_Climate_Change.jpgBBC News – September 7, 2007

Jim Press said that quitting Toyota after 37 years was "the most difficult decision" he had ever made.

The move comes after private equity firm Cerberus bought 80.1% of Chrysler for 7.4bn euros ($10.1bn; £5bn) from parent company Daimler.

Last month, the former boss of DIY store Home Depot, Bob Nardelli, was named Chrysler's president.
"We're thrilled that one of the most successful executives in the history of the auto industry has joined our leadership team at the new Chrysler," Mr Nardelli said. http://news.bbc.co.uk/2/hi/business/6982137.stm


AP/USA Today's version (http://www.usatoday.com/money/autos/2007-09-06-press_N.htm)

Does this mean no more Chrysler TV commercials with burger-flippers drooling over 4X4 pickups with Hemi's?

Harry

Hi Chuck:

___I was working on my own ;)

Toyota exec Press jumps to Chrysler.

Japanese automaker's former top U.S. manager to run sales, marketing. (http://www.msnbc.msn.com/id/20623360)

http://www.cleanmpg.com/photos/data/501/Alan_Mulally_at_Congressional_Hearing.jpgAP - Sep. 6, 2007

Jim Press (soon to be with Chrysler), Alan Mulally of Ford and Tom LaSorda currently Chrysler’s lead, stand before Congress in March of this year. Who knew Press would be lured to Chrysler back then? There must have been suitcases full of $’s involved.

DETROIT - Chrysler has hired away Jim Press, Toyota' top North American executive, to run its sales and marketing operations, Chrysler LLC announced Thursday.

Press, formerly president and chief operating officer for Toyota in North America and the first non-Japanese member of the Japanese automaker's board of directors, will become Chrysler vice chairman and president.

He joins new Chairman and CEO Robert Nardelli and Tom LaSorda, vice chairman and president, as Chrysler's top management team.

LaSorda will run the company's manufacturing and purchasing operations, while Press will handle sales, marketing and product strategy, said company spokesman Mike Aberlich … http://www.msnbc.msn.com/id/20623360

I don't know much about him, but maybe he was the one that pushed for the Tundra P/U plant in San Antonio - who knows if he is green or gas guzzler?

I sure the heck hope so, Harry.

It doesn't matter how successful he was at Toyota. He will fail miserably at Chrysler because he is crippled my American and German unions and is stuck with a very different attitude and processes in manufacturing, sorry Jimbo.

Hi Antrey:

___Just to let you know, there are union members working for $12 - $13 per hour in American automobile suppliers plants and those that used to make the big bucks are about ½ in number that they were 5 years ago. Walmart and McDonalds are paying upwards of $10 here in my area so I doubt there is a problem with wages. Union work rules and importation legalities might be an issue however?

___The item of note is I remember a time when Toyota’s and Honda’s were called and were in fact Japanese junk just about the time Jim Press began to work for Toyota. They have come along way and I have the feeling the team they are putting together via the Cerberus takeover might have a shot if they get there act together in one heck of a hurry.

___Remember too that this new company has access to 2-Mode and 2-Mode PHEV variants. With that, they can move ahead rather quickly if they deploy it like most here believe a technology of its importance should be made available. I hope 2-Mode works as good as it looks on paper anyway?

___Good Luck

___Wayne