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Thread: Chrysler refuses loan, courts bankruptcy, cuz execs didn't want pay restrictions

  1. #1
    Elite Member Grimmlok's Avatar
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    Lightbulb Chrysler refuses loan, courts bankruptcy, cuz execs didn't want pay restrictions

    They are on the verge of ruin and they turn down a federal loan because they don't want pay restrictions. Really? Seriously? Just as Reagan sacked the air traffic controllers, Obama ought to fire the entire management structure at this pathetic excuse of a company. This is a team that has done nothing to improve the overall company and even down to the last dollar only cares about their own bloated pay plans. Let them all rot.


    Top officials at Chrysler Financial turned away a $750 million government loan because executives didn't want to abide by new federal limits on pay, sources familiar with the matter say.

    The government had been offering the loan earlier this month as part of its efforts to prop up the ailing auto industry, including Chrysler, which is racing to avoid bankruptcy. Chrysler Financial is a vital lender to Chrysler dealerships and customers.

    In forgoing the loan, Chrysler Financial opted to use more expensive financing from private banks, adding to the burdens of the already fragile automaker and its financing company.



    Not a penny more. Let them find out how well it pays to live on unemployment like everyone else.

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    Yeah execs, just fuck over everybody else. Nice going.
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    Elite Member angelais's Avatar
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    Greedy fucks. Seriously, can't they just get hit by a car or something.
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    Elite Member Grimmlok's Avatar
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    yeah, one of their own? the 300 M
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    Elite Member KandyKorn's Avatar
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    In forgoing the loan, Chrysler Financial opted to use more expensive financing from private banks, adding to the burdens of the already fragile automaker and its financing company.


    Not only greedy but absolutely no common sense.
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    Elite Member Grimmlok's Avatar
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    the executives want their golden parachutes.. they don't care that the company fails and thousands are put out of work.. they want to ensure they get their money. Companies now exist to provide obscene paydays for execs even if that destroys them.
    I am from the American CIA and I have a radio in my head. I am going to kill you.

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    Elite Member KandyKorn's Avatar
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    ^^It's absolutely sick. I would like to hear what the employees on the factory line have to say about it...or any other employee that ISN'T a top level greedy fuck.
    I'm not quite drunk enough to really care, but is this her violation of her violation of her violation of her violation of probation or her violation of her violation of her violation of her probation????? ~MontanaMama on LL's latest arrest.

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    Elite Member kingcap72's Avatar
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    If the OVERPAID executives would rather run the company into the ground instead of saving the company that's on them. They'll just have to deal with the fallout from the employees, which won't be pretty.

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    Elite Member Mr. Authority's Avatar
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    If the people here don't run up and leave this state, I think gun sales are gonna go over the roof. Just saying.....

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    Elite Member Brookie's Avatar
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    This doesn't make any sense. Their execs know this company is deep in the hole and I guarantee none of them are hurting for cash. I don't get this attitude at all.

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