Chrysler Plans to Use a Loophole to Pay Executives More than $500,

[Soup]

Get Ready To Rage: Chrysler Plans to Use a Loophole to Pay Executives More than $500,000

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 government 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.

Get Ready To Rage: Chrysler Plans to Use a Loophole to Pay Executives More than $500,000 | PriceWheels Blog

Every time I read something new about what Chrysler and GM are doing it makes me want break someone's face.

[97talon]

Too many greedy bastards with power.

[ray_sir_6]

Should the government amend the requirements to cover this? Is there a way to keep this from happening?

[x1800ccS13x]

Originally Posted by ray_sir_6

Should the government amend the requirements to cover this? Is there a way to keep this from happening?

Let chrysler die. They make shit products anyway. I had a 08 sebring as a rental, and I see why chrysler is in such a finacial mess.

[skyline180000]

I work for a Chrysler Jeep dealer in western pa that is NOT closing. Yes they need to find a way to limit exec pay in this case but not all Chrysler products are shite - viper, srt8 300 and grand cherokee are examples of some DECENT cars. Every car maker makes some shite product in thier lineups. GM and Chrysler dont need to die but do need to wake up and smell the shite thier shovelin to us tho

[Jonnychadootz]

Originally Posted by 97talon

Too many greedy bastards with power.

That's cause power corrupts. There are very few human beings that can be put in that position that would remain unchanged. This is pretty simple, pull the plug and take back what they were given, we all know where that $$$ is gone and is going to go. Then again why should the a**holes in the government care, it's not like it's their $$$ they are giving away