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Chrysler to hand out bonuses leave taxpayers holding the bag

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posted on Feb, 1 2011 @ 01:47 PM
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So a company that lost more than half a billion dollars after being propped up by our taxpayer money decides its just more important to hand out bonus money to employees. Interesting the article notes that union workers get a $750 check but nothing about how much management and execs pocket. Oh but don't worry they expect a profit this year. Yeah I won't hold my breath.


Chrysler Group LLC lost $652-million (U.S.) last year, but the company will hand out performance bonuses for 2010 to almost all its employees before repaying taxpayer loans of $7.6-billion (U.S.) that kept the company alive during the auto crisis. The auto maker, however, forecast a profit for the current year and said its turnaround is so far advanced that the company can afford to share its improving fortunes with workers.


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posted on Feb, 1 2011 @ 02:16 PM
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reply to post by HoldTheBeans
 


So what is the problem??? Crysler is supposed to have the debt paid back by 2014 not 2011. They are paying interest on the loan as we speak. They are still on track to pay back by 2014. What is the problem? Or did you just want to stir the pot?

Your only argument could be " Why not pay back the loan NOW and NOT give their employees bonuses?"

Can we agree that happy workers are more productive? Can we also agree that the financial problems of the company fall on the shoulders of less than 10%?

So you would take from the mouths of your employees, to pay back a loan 3 years early?

Would you pay your mortgage off early, before making necessary improvements on your house? Would you pay for a needed surgery or pay of your home loan 3 years early?

I am disgusted by your thread. I truly hope that there are very few Americans that agree with your ignorant logic!



posted on Feb, 1 2011 @ 02:34 PM
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They LOST MONEY in '10. How much were the bonus' of the executives. That is whats truly disguting I'll bet. I guess you don't mind have YOUR money stolen by the government and given to private companies. If YOU want to hand YOUR money to Chrysler feel free. Then to top it off hand out bonus money to employees working for the same company that is still losing money. If you agree with that then you must work for the government.



posted on Feb, 1 2011 @ 02:39 PM
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reply to post by HoldTheBeans
 


Here is what I was able to find on what the execs can expect......

"The automaker is not disclosing the amounts salaried workers will get. The top 50 executives of the company will not receive a performance award, in keeping with conditions of receiving government aid under the Troubled Asset Relief Program." Link to article

Now, with that said, ask me if I realllly believe that the top 50 wont get some kind of bonus, go on, ask me. LOL

It's so nice to know that the tax money that so many Americans can so ill afford to give up, but do, is being taken so seriously by the Chrysler folks. I can understand giving the workers some incentive for a job well done, but, if MY company operated in the red like that do you think my bank would accept it if I went to them and said "Hey, look.. I know I owe you all this money, but you can stick it really I'm going to give out bonuses instead". I do believe the answer to that would be a padlock on my front door and closure of my business.

Well, since I believe in "voting with my dollar".... I will never buy another Chrysler product if I can at all help it!!!


edit on 1-2-2011 by MyMindIsMyOwn because: color correction



posted on Feb, 1 2011 @ 03:17 PM
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reply to post by MyMindIsMyOwn
 


Your company in the "black"?? Are you sure you have a company, or do you mean in the "red?" Still asking, you sure you have a company?

The top 50 are not getting bonuses! The bonuses are going to the employees! Their loan isn't due until 2014... Lets give them the time that they were promised BEFORE jumping to conclusions!

I didn't agree with the loans... It violates capitalism ideals... But, it is done. Again, we are getting interest on the loan, so lets wait the time that they were promised... While waiting, lets applaud them for "taking care" of their employees!

We have gotten our money back from the others, lets wait on ours from Chrysler!

If your payments weren't due till 2014 and you took the irresponsible risk of spending your last bit of capital, on repayment, you would be the most ignorant businessman ever!


edit on 2/1/2011 by Resurrectio because: (no reason given)



posted on Feb, 1 2011 @ 03:19 PM
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reply to post by MyMindIsMyOwn
 






I know I owe you all this money, but you can stick it really I'm going to give out bonuses instead". I do believe the answer to that would be a padlock on my front door and closure of my business.



That is the most ignorant comment ever made!!!

Shame on you, if you don't pay off your mortgage IMMEDIATELY! Pay your car loan NOW!! Pay it all early, before you invest in your family! That is exactly what your ignorant statement is saying!



posted on Feb, 1 2011 @ 04:28 PM
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reply to post by Resurrectio
 


Actually, personal attacks are a little more ignorant. So with that said I certainly see where your debate skills are... or rather... are not.

Ok, so I slipped with the red and black. Sue me. The example was not actual. So until you can point out a VALID point for debate and not a superficial one, we have nothing further to discuss.

The idea here is more about perception. You don't think that paying off some more of their debt as a public gesture of good will would be a nice thing to do?? I'm not suggesting they pay it ALL off, but a little show of appreciation to the American public who's money it was that pulled their bacon out of the fire would be nice. And do I think the employees should be reveiving a bonus? No, I don't. Not in a year where the company actually lost money. If there was actually profit?.. yes. And don't give me the line about execs NOT getting a bonus of some sort just because the company said they would not. I don't believe it and I WON'T believe it until I see the proof they did not.

Given your obvious need to vent bile and anger we do have one thing in common... I did not then nor do I now think we should have bailed out the car companies.




edit on 1-2-2011 by MyMindIsMyOwn because: (no reason given)



posted on Feb, 1 2011 @ 04:53 PM
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reply to post by Resurrectio
 


And in reference to your comment about us having received our money back from all of the other car companies perhaps a little research on this should have been done.... according to a google search this is the last published article I could find on the payback from GM.... which is still not paid back..... GMs Phony Payback

Also, in my research to your charge of payback, I did come across this interesting website that will show ALL gov't monies given to various and sundry institutions along with their stellar payback history thus far. Happy reading.... Bailout Listing This will also support my statement that we have yet to receive all of the money from other car companies our govenment so generously bailed out with OUR money.



posted on Feb, 1 2011 @ 05:07 PM
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Not to mention the NINE TRILLION dollars the IG of the treasury can't account for. We as taxpayers are being raped plain and simple and some folks see no problem with that.



posted on Feb, 2 2011 @ 12:08 PM
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reply to post by HoldTheBeans
 


See how you stretched that to encompass the IG missing funds? Now, because I am able to use my brain to it's full capacity, not being misled by emotions, now I am turning a blind eye to a totally different subject?

Lets use your logic: Because you don't think that the employees should get bonuses, you MUST believe that we should stop all aid to impoverished countries... Equally as ridiculous!

There loan is due in 2014! Period! They have not been late on ONE single payment! Period!!



posted on Feb, 2 2011 @ 12:15 PM
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reply to post by Resurrectio
 


All I can say is our government loves people like you. They steal your money and you defend their practice. Unreal.



posted on Feb, 2 2011 @ 12:25 PM
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reply to post by HoldTheBeans
 


Come on! Stop being ignorant! They aren't stealing.. They loaned it.. No wonder anti-govt. folks are painted as delusional wackos.

Do you honestly not know the difference between a loan and stealing?

You can over dramatize this as much as you like.. It makes you look foolish!

The govt. may steal my money... And when I hear about it .. I am up in arms.. This is a loan, and I am smart enough to see that!


edit on 2/2/2011 by Resurrectio because: (no reason given)



posted on Feb, 2 2011 @ 12:40 PM
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Originally posted by Resurrectio
reply to post by HoldTheBeans
 


Come on! Stop being ignorant! They aren't stealing.. They loaned it.. No wonder anti-govt. folks are painted as delusional wackos.

Do you honestly not know the difference between a loan and stealing?

You can over dramatize this as much as you like.. It makes you look foolish!

The govt. may steal my money... And when I hear about it .. I am up in arms.. This is a loan, and I am smart enough to see that!


edit on 2/2/2011 by Resurrectio because: (no reason given)


So let me get your post straight when the government 7.9 trillion in the red needs another socialist loan from the people for the too big to fail, this is a loan



Article I section 8 of the U.S constitution allows the congress to coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures.

I just do not see the Constitution outlining in detail that the American people need to coin money for the Corporate elite and the too big to fails

Thus, looks like either stealing or tyranny to me



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