May 15th, 2009 by Ross Edwards
Just one day after Chrysler announced that it would be forcing almost 800 dealerships to close in the beginning of June, ABC News is reporting that Fiat and Chrysler are working on finding a way to pay Chrysler executives more than the $500,000 per year salary limit imposed by the Government on any business that took bailout money.
Fiat is planning to list Chrysler executives as Fiat employees so that they aren’t limited to just $500,000 a year. Since Fiat hasn’t taken any bailout money from the U.S. government, it can pay underperforming executives whatever it wants.
I think I speak for everyone when I say this is UN-EFFING-BELIEVABLE.
I think a suitable punishment for this would be putting these guys alone in a room with as many out of work UAW workers, car salesmen, mechanics, lot attendants, finance managers, truck drivers and other former Chryslerites as it would take to equal out their salaries. We’d need a very large room.
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[…] of tax payer money in the form of bailout “loans” it now has no intention of paying back. Or as the company that is working on a way to avoid the $500,000 salary cap for executives of companies that received bailout money. Share and […]