Given the economic woes that have taken hold of this country, the general consensus is that Cerberus overpaid badly for Chrysler.
Now the infamous Robert Nardelli -- probably best-known for his $210 million golden parachute for leaving Home Depot (NYSE: HD) in disgrace -- is charged with making the best of it as the company's CEO.
Fortune senior editor Alex Taylor III takes a look at Nardelli's bold and aggressive plan to return the company to solid profitability. Nardelli is playing hardball with the company's suppliers and dealers. Parts suppliers who can't deliver will be dropped, and the company's dealer network will be dramatically reduced in size. Nardelli is also consolidating all the company's brands -- Jeep, Dodge, and Chrysler -- into single dealerships. Business just isn't good enough to support a stand-alone Dodge store.
In addition, Chrysler is making a bold move into China -- the company currently garners 90% of its sales from North America, but hopes to double its international sales over the next four years.
The problem for Chrysler is that the price Cerberus paid and the weak economic environment may make even the most impressive turnaround something less than a cash cow.
And if there's one thing I've learned from watching a fair number of turnarounds, it's this: most of them fail miserably.
Can Nardelli reinvent Chrysler?
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