Monday, November 17, 2008

BONUS! (Chrysler style)

Oh to be a highly compensated Chrysler executive! You get to run your company into the ground, hold your hand out in the hopes it will be filled with government bailout money AND look forward to a big bonus at a time when everyone else is worried about hanging on to their job.

According to this article in the Detroit Free Press, Chrysler plans to hand out $30 million in retention bonuses to its executives. And at least six Chrysler execs "are due to receive bonuses of more than $1 million a piece."

As they move to line their pockets with millions, Chrysler executives are joining with Ford and GM leaders to ask the federal government for $25 billion in loans.

Really? Seems that free markets are fab when you've got the feds to cover your losses.

This I do know: when I buy my next car, it will not come from Detroit. Maybe the feds feel compelled to support failed business leadership - but I won't.

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