Thursday, February 03, 2011
"Chrysler Loses Money, Gives UAW Bonuses"
See anything wrong with this? I sure do...
Mark Modica reports at NLPC.org:
"Chrysler recently reported a 4th quarter loss of $652 million. So what does a UAW majority owned company that is losing money do? How about a bonus for UAW workers?
Current Chrysler ownership breakdown puts the UAW at a 63.5% ownership stake while the US Treasury holds a 9.2% stake. Italy's Fiat currently owns 25%. Bonuses planned for UAW workers are estimated to average $750.
It is disturbing that at the same time Chrysler plans for UAW bonus distributions they are back asking taxpayers for more money. "
