  A model of magnetic interaction of CrO$_2$ and Pd hexagonal layers in
PdCrO$_2$ is proposed. Since Cr-O-Pd bridges do not provide an interlayer
magnetic coupling in case of a 120$^0$ magnetic ordering, a direct exchange
interaction between magnetic chromium ions and conductive palladium layers is
assumed. It is shown that this interaction leads to a novel state of itinerant
electrons (skew bands). It is characterized by abnormally high conductivity at
low temperatures due to strong suppression of umklapp electron-phonon
scattering.
