Robert Nardelli

The former chief executive of Home Depot Inc., who abruptly quit in January amid controversy over his lavish compensation, has been named to head Chrysler Group by the new owners of the No. 3 U.S. automaker. Chrysler confirmed late Sunday that Robert Nardelli would replace Tom LaSorda as head of Chrysler and would also assume the title of chairman. LaSorda will become president and vice chairman, effective immediately.

Chrysler is not yet out of bankruptcy, but it already has a new boss lined up. The automaker, which filed for Chapter 11 three weeks ago, said Wednesday that Robert Kidder would become its chairman once it emerges as a new company merged with Italian automaker Fiat. Kidder, the former chairman and chief of Borden Chemical and current head of investment firm 3Stone Advisors, will succeed current Chrysler Chairman and Chief Executive Robert Nardelli.

Some managers at Home Depot Inc. have found that company rewards could be real pick-me-ups. Home Depot Chief Executive Robert Nardelli has given store managers who met sales goals last quarter a four-wheel prize: pickup trucks painted orange to match the logo color of the world's largest home-improvement chain. "It is really like a race car," said Monty Marsh of his 2003 General Motors Corp. Chevrolet Silverado, customized with leather seats and racing stripes. "I have to keep my kids out of it.

Chrysler's chief says the automaker has received an initial $4-billion loan from the Treasury Department. Chief Executive Robert Nardelli said Friday that the Auburn Hills, Mich.-based company's talks with the federal government about the bridge loan had been completed. Nardelli said the initial loan would allow Chrysler to continue its restructuring and pursue "our vision to build the fuel-efficient, high-quality cars and trucks people want to buy, will enjoy driving and will want to buy again."

Chrysler's chief says the automaker has received an initial $4-billion loan from the Treasury Department. Chief Executive Robert Nardelli said Friday that the Auburn Hills, Mich.-based company's talks with the federal government about the bridge loan had been completed. Nardelli said the initial loan would allow Chrysler to continue its restructuring and pursue "our vision to build the fuel-efficient, high-quality cars and trucks people want to buy, will enjoy driving and will want to buy again."

Chrysler is not yet out of bankruptcy, but it already has a new boss lined up. The automaker, which filed for Chapter 11 three weeks ago, said Wednesday that Robert Kidder would become its chairman once it emerges as a new company merged with Italian automaker Fiat. Kidder, the former chairman and chief of Borden Chemical and current head of investment firm 3Stone Advisors, will succeed current Chrysler Chairman and Chief Executive Robert Nardelli.

Chrysler Chief Executive Robert Nardelli told workers the automaker's loss could more than double to $1.6 billion this year, people with direct knowledge of his statements said. Nardelli disclosed the projection at meetings this week in the Detroit area, the people said. A 2007 loss would be the second in a row for Auburn Hills, Mich.-based Chrysler, acquired in August by private equity firm Cerberus Capital Management.

The former chief executive of Home Depot Inc., Robert Nardelli, was granted $134.5 million in compensation last year as valued by the company, according to an analysis of a regulatory filing by the world's largest home improvement store chain. A sizable chunk of Nardelli's compensation was related to his severance package from the Atlanta-based company. Nardelli, who resigned in January after six years with Home Depot, received a salary of $2.

Home Depot Inc. said directors Angelo Mozilo and Tom Ridge would step down after the company's annual meeting in May. Ridge's and Mozilo's decisions aren't tied to "any disagreement on the company's operations, policies or practices," Atlanta-based Home Depot said in a filing with the Securities and Exchange Commission. Home Depot ousted former Chief Executive Robert Nardelli in January after criticism of his pay.

Home Depot Inc., which ousted Chief Executive Robert Nardelli after investor criticism of his pay, tightened the approval process for future CEO compensation packages. The CEO's wages will now require the approval of two-thirds of the board's independent directors, up from 50%, Atlanta-based Home Depot said Monday in a regulatory filing. Home Depot's board awarded Nardelli $225 million in compensation during his six years running the company. He was replaced Jan. 2 by Vice Chairman Frank Blake.

The former chief executive of Home Depot Inc., who abruptly quit in January amid controversy over his lavish compensation, has been named to head Chrysler Group by the new owners of the No. 3 U.S. automaker. Chrysler confirmed late Sunday that Robert Nardelli would replace Tom LaSorda as head of Chrysler and would also assume the title of chairman. LaSorda will become president and vice chairman, effective immediately.

Some managers at Home Depot Inc. have found that company rewards could be real pick-me-ups. Home Depot Chief Executive Robert Nardelli has given store managers who met sales goals last quarter a four-wheel prize: pickup trucks painted orange to match the logo color of the world's largest home-improvement chain. "It is really like a race car," said Monty Marsh of his 2003 General Motors Corp. Chevrolet Silverado, customized with leather seats and racing stripes. "I have to keep my kids out of it.

Shareholders of Home Depot Inc. reelected lead director Kenneth Langone amid criticism that the investment banker who helped found the retailer wasn't independent. At least 80% of votes were cast in favor of Langone, whose firm has done work for Home Depot, as well as 11 other directors. Institutional Shareholder Services, an advisory service, had urged investors to oppose the election, and several small investors questioned his election at Home Depot's annual meeting in Chicago.

Home Depot Inc. said Tuesday that fiscal fourth-quarter profit rose 23%, the biggest gain in two years, on sales of refrigerators, washing machines and kitchen cabinets. Net income climbed to $1.29 billion, or 60 cents a share in the quarter ended Jan. 29, exceeding analysts' estimates. Year-earlier profit was $1.04 billion, or 47 cents a share. Sales rose 16% to $19.5 billion, Atlanta-based Home Depot said. Sales at stores open at least a year, a key measure of retail health, gained 5.5% as U.