need to add title here

Sergio Marchionne: Resurrecting Chrysler

September 2, 2012 4:00 PM

Three years ago, Chrysler was sputtering toward bankruptcy, but one man bet he could save the company and tens of thousands of jobs. Steve Kroft interviews Sergio Marchionne.

Sergio Marchionne: Resurrecting Chrysler
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by jimmyawalker September 5, 2012 8:38 AM EDT
j deserves a second change with a interal chank if neccessary because gmc jimmy is about to put on he vest in the efficency that's even large and accurate, if you understand you see it wasn't handle proper when it were small, when it come to auto it's like a oreginal lotto winner, it's loaded with about 998 millionaires, it sharp and fast.
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by ozpaez@sprynet.com September 2, 2012 9:53 PM EDT
It was a fascinating piece, but unfortunately it tells one side of government intervention. When companies like Chrysler and GM are "saved" by the tax payers, we see the people whose jobs were preserved. What we don't and can't see are the faces of people who would have gotten jobs in other companies who did not fail and new companies that would have emerged from the ashes of the failed ones. Thus we can point to Bob and say that he kept his job because of the bailout, but we can't find George, Sue and many others who never got a chance to work in jobs that would have been created in other companies that would have filled market needs. So, Chrysler will produce more and Ford will produce less. Fiat will have opportunities, which otherwise Honda, Toyota or BMW would have enjoyed, and the workers that those companies would have hired will never know what they lost in the process.

The type of linear thinking behind the benefits of bailouts is damaging because it tells one side of the story and sets the principle that protecting those who fail in the market is good policy; in the long run, they always involve significant tradeoffs. The last two Presidents picked winners and losers across industry segments and created an inheritance contrary to our economic traditions. I suspect that direct and indirect costs will continue to add up for many decades to come.

On the other hand, Sergio Marchionne may well demonstrate how even a failed, bureaucratic laden organization can be turned around by a risk taking, visionary leader. I was curious, however, as to the sources of the threats that prompted the Italian government to demand that he and his family have around the clock protection. That might make an interesting follow up to your story.
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by Carlos Diaz 1936 September 2, 2012 9:15 PM EDT
It finally played, and it is AWESOME and fascinating. Dont miss it, am recommending it to all my Mgt friends
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by rpetraglia13 September 2, 2012 8:34 PM EDT
Thank God for Sergio Marchionne! Hope he could generate more natural gas vehicles for the world too : ]
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by Carlos Diaz 1936 September 2, 2012 8:01 PM EDT
What is wrong? the video does not play....too early?
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