Marchionne Tells 60 Minutes That Workers Fueled Chrysler's Turnaround
AUBURN HILLS, MI -- (WWJ) Chrysler CEO Sergio Marchionne telling the TV program "60 Minutes" that he's not the only reason for his company's turnaround.
"I think the world of American workers," said Marchionne. "What happened here at Chrysler would be impossible without the commitment they've shown. Absolutely impossible."
"60 Minutes"—seen Sundays at 7 on CBS 62—profiled Marchionne as a workaholic, who carries five beepers, and starts his day at 3:30 AM. Reporter Steve Kroft traveled with Marchionne to Chrysler's factories, Fiat's headquarters and even took a test track lap in an Alfa Romeo convertible.
Marchionne recalled sneaking in to the Jefferson North Plant just before Chrysler's 2009 bankruptcy, and seeing a facility in disrepair, and workers suffering from poor morale.
"There's nothing worse for a leader than to see fear in workers faces," he said. "That fear is now gone."
Chrysler has poured billions into upgrading its factories, but Marchionne said the workers at plants like Jefferson North are the ones responsible for dramatic changes in efficiency, safety and quality.
This is the story, he said that Chrysler was trying to tell with it's 2011 "Imported from Detroit" Super Bowl commercial, and the follow up last month with Clint Eastwood.
However critics complained that commercial was a "payback" to the Obama administration for the government loans that saved Chrysler.
"I paid back the loans at 19.7 per cent interest," Marchionne said. "I don't think I committed to do a commercial on top of that. I thought that the republican's reactions to this was unnecessary and out of place."
The program said that Chrysler expects its first quarter profits to be the best in four years.
Marchionne also said the upcoming launch of the Dodge Dart compact was very important. That vehicle is the first offspring of the combination of Chrysler and Fiat.
His biggest worry, Marchionne says, is that Chrysler will lose focus, and products will suffer. He was asked if Chrysler could survive the launch of a product that didn't sell.
"One car, yes. Now, I can afford a car. Twelve months ago, it would have been a disaster."
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