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-   -   Government to slash Chrysler executive pay (http://www.ramforumz.com/showthread.php?t=42955)

1970 Charger 10-22-2009 02:56 AM

Government to slash Chrysler executive pay
 
Government to slash Chrysler executive pay

October 21st, 2009 by Bill Cawthon
Top executives at Chrysler Group will soon see a major cut in their paychecks. As soon as today, the U.S. Treasury plans to announce new limitations on executive pay packages at companies that received the most government assistance under the Troubled Asset Relief Program (TARP). In addition to Chrysler, affected companies include General Motors, American International Group (AIG), Bank of America and Citigroup.
Kenneth Feinberg, special master at the Treasury, has been studying executive pay at the companies and, according to sources, plans to cut pay for the top 25 executives at each firm by about 50 percent. One insider told the Associated Press that no executive at AIG will receive more than $200,000.
It is unclear at this time whether Chrysler CEO Sergio Marchionne and some of the executives he brought from Fiat will be affected by the new measures. Marchionne is currently being paid by Fiat SpA which is not part of the government program.

98sst 10-22-2009 03:03 AM

Ah jeeze....

dodgeman70592 10-22-2009 09:15 AM

They are gonna limit executives at $200k, Oh my, what will they do????

Bobba Booey 10-22-2009 04:12 PM

Quote:

Originally Posted by dodgeman70592 (Post 93943)
They are gonna limit executives at $200k, Oh my, what will they do????

Are you kidding? Some might have to downgrade from a Gulfstream G300 to a Gulfstream G200, which is just embarrassing.

chithead 10-22-2009 04:23 PM

Wonder if they'll still get a free car every year.

dodgeman70592 10-22-2009 04:49 PM

Quote:

Originally Posted by chithead (Post 94058)
Wonder if they'll still get a free car every year.

I hope they do, cause at $200k a year they wouldnt be able to afford one

98sst 10-22-2009 07:50 PM

What ever will they do?

Toms Blue Ram 1500 10-22-2009 09:34 PM

Kinda makes me wanna cry ? Thanks for the pic Blue.

CdnoilRAM 10-23-2009 12:48 AM

They'll just have to start living like the rest of us who only make $100K a year... yeah, I know Kurtis, SHUT UP! I make a good living doing what I do, but I really don't see how they need to make 200K+ a year, and this is where corporations just ruin the world :doh:

2009Cummins 10-24-2009 10:41 AM

wow im a 21 year old joe schmoe making 144K a year now they are in my pay grade what will they do how could this happen!!!!


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