The Treasury Department has turned down Chrysler Financial’s most recent request for more financial aid. The impasse was the caps on executive compensation that the government wants imposed, to insure the company stays solvent long enough to pay the tax payer back. The latest installment would have added another $750 million, to the $1.5 billion already lent to Chrysler Financial. This is in addition to the $4 Billion lent to the Chrysler parent company.
It seems executive bonuses come first, maybe the exec can lend consumers the money to buy their cars. They expect union members to give up between $30-$40 in pay and benefits, but don’t want to set a good example with their own compensation. Lego my ego….I mean bonus.
