Snowman's new job

Don't know if anybody's heard, but John Snow is now defacto boss of the spun-off Chrysler Group. Snow is chairman of Cerberus Group, the private equity group that bought 80% of Chrysler from DaimlerChrysler. Word has it Tom LaSorda will remain as Chrysler's CEO, which bodes well - I don't think Snow's style, as seen at CSX, would mix well with the Detroit boys.


Note to mods - I understand this somewhat stretches "on-topic"... no hard feelings if this gets moved/locked/killed.

Here is more on the story noted by Mr. Dunville:

http://www.nytimes.com/2007/05/15/busin ... imler.html

It looks like Snowman has gone from "at the throttle' to "behind the wheel".

All who say the railroad industry is "the better" for having Snowman once part of it, say "aye' loud and clear.

Uh, guess I had better go have my hearing checked.

Anyone think Chrysler and the auto industry be the better.......;????

Is this the same guy whos name shows up on are money John W. Snow?? or someone else?

Yep, that's the man...used to be Treasury Secretary

Tadman wrote:Don't know if anybody's heard, but John Snow is now defacto boss of the spun-off Chrysler Group. Snow is chairman of Cerberus Group, the private equity group that bought 80% of Chrysler from DaimlerChrysler. Word has it Tom LaSorda will remain as Chrysler's CEO, which bodes well - I don't think Snow's style, as seen at CSX, would mix well with the Detroit boys.


Note to mods - I understand this somewhat stretches "on-topic"... no hard feelings if this gets moved/locked/killed.

Snow will be two layers removed from day-to-day management...but still, the whole thing begs some interesting questions.

If Snow tries to do to the Chrysler workforce what he did to the CSX workforce...his company will shortly own a strikebound, bankrupt car company.

In "background reportage appearing in Today's New York Times (free content), there is "less than flattering" mention of Snowman's railroad career:

Brief passage:

• But as Mr. Snow focused on deal making — acquiring nearly half of a rival, Conrail, selling off much of its liner business — some began to complain that he was long on ideas but short on execution, a railroad executive who failed to spend the money necessary to keep the company’s trains running on time.
  
  “John was never an operations guy and never pretended to be,” said Rush Loving Jr., a former Fortune reporter who wrote “The Men Who Loved Trains,” a book published last year that criticized Mr. Snow’s performance at CSX.
  
  According to Mr. Loving, Mr. Snow’s tenure had its positives, like cultural changes he tried to institute at the company. But he made it clear that his goal was to become Treasury secretary, not to run a railroad

Here's the "full monty":

http://www.nytimes.com/2007/05/18/business/18snow.html