Well, at least they have their priorities in order.

What a great argument for lending taxpayer support.

This is like those AIG execs who went for luxury spa treatments after scoring their big government bailout.

Firing management should be a precondition for federal aid.

Cost of TARP bailout :$700 Billion.
Cost to taxpayers: $700 billion+.
Cost of keeping on the same morons that helped run the company into the ground, giving them 6 and 7 figure bonuses, while 35,000 working stiffs get laid off: PRICELESS!

Chrysler has 50 employees left?

Actually, the morons that ran this company into the ground speak German and are no longer there.

Executive pay is irresponsible and just simply out of control in the corporate climate today. I’d love to find the guy who coined the term “kleptocracy” and buy him a beer. Pay needs to be directly linked to performance, and golden parachutes need to go the way of the dodo.

I am your side Z06ified…..take a look at the past.

Rentention?
In my day, you “retained” people who the company needed to suceed.
What the hell’s going on?

John Challenger of Challenger, Gray and Christmas of Chicago, a human resources consulting firm, said, “To get good people, the right people, then you often have to pay retention bonuses – otherwise they just won’t come or they won’t stay.”

Um, I’d say if that’s the case, maybe you’re getting the wrong people. I honestly think people prefer security over bonuses. In order for one to secure one’s job, one needs to be willing to work, and do one’s job very well. Perks and bonuses are great, but I really don’t think they are a good means of retention. I stay with my job when I feel challenged, when I accomplish things, and when I get recognition for my work. I never get bonuses, and I’ve been at my job for 15 years. The other people that have been here for any length of time have the same work attitude that I do, and none of us receive free retreats, big bonuses, so on and so forth. If you need to give bonuses in order for people to stay, then there is no loyalty to begin with, and the first challenge will send them running.

Actually, you don’t have to speak German to realize 35,000 employees are getting laid off while at the same time, other employees are getting 6 and 7 figure bonuses. And, if you do take a look at the past, there was a reason they needed to partner with those who speak German, in the first place. And it’s wasn’t because they were basking in their success.

Why am I not surprise………….

What’s the point of keeping these guys around till next August? Does Chrysler have tons of new product releases between now and next summer for which these people play a pivotal role?

I didn’t think so.

Nice…they could have saved about 300-$50k worker’s jobs with that bonus money.

I love it – Blame the Germans! They were smart enough to leave a sinking ship and the people still there want Golden Lifeboats.

Typical New America: nobody is responsible but everybody wants a bonus for failure or success. I think we could use a good crash to re-align our attitudes.

Jim

You gotta love it! Oooo, those poor company people. Give them a bailout while they are vacationing in the Riviera..pffffft. Cerebus should be shot.

procrastinate now, read deeper into that period of Chrysler’s history. At the time of Daimler’s arrival, Chrysler was arguably in the best shape of the big 3. Well, not even arguably- they were.

jonnycanuck, I agree with you. But, when you say, “arguably in the best shape of the Big 3″, do you mean they were in great or even good shape? My point is, best shape relative to what, other than the other two.

wetstuff….read into even a little of the Chrysler history (just 5 years back) and you wouldnt sound like an idiot. “Blame the Germans”, duh they admitted it and it aint no secret conspiracy….”New America”…?? uh oh sounds like another bitter “finger pointer” LOL…”New America” STFU. too funnny. johnnycanuck is absolutely right, before 98′ they were in fact in really good shape.

I’m with jackjim and others…. I get it–companies like giving out bonuses to keep good people from bailing, but where’s the incentive in keeping the captains of a sinking ship around? According to the article, there will no less than about $14 million in bonuses doled out. Can’t think of a single thing done to truly earn that.

Lot’s of German hatin’ going on too. It’s a fair point, Daimler never really saw the merger as being a company of equals. But Daimler go its due as well: It bought Chrysler for over $30 billion and sold it for $7 or $8 billion, or around there. So, unless the Germans raked in $30 billion of profit selling Neons, they have egg on their face too.

And if you really wanna lay blame, look no further than Chrysler mgmt. that wanted the merger in the first place. At the time, minivans, trucks, and Sebrings were flying off the assembly lines; Chrysler had solid double-digit market share, whereas Mercedes had something like 5%. There was no need for the merger, and the only thing that Chrylser got out of it (platform sharing, drivetrains, etc.) could have been accomplished with contracts, and not a corporate merger.

But, hindsight is 20/20, so what can you do? You can make it harder for undeserving execs to pay for their private jets, that’s what.

And the Big Three wonder why they’re going out of business? If one of the Japanese automakers were in this situation, their executives would probably be committing harakiri under their desks – not taking bonuses. What a bunch of a$$bags!

Let’s party like it’s 1999!

Hey, my company is into hiring idiot/loser senior management. It’d be better than what we have now. These pricks should call HP now!

Z06ified,

Chrysler has given itself to Krautz by Eaton, because Eaton and board were scared of Iaccoca coming back and improving shareholders equity. They were in good shape, Johnny’s memory is perfect in that regard. Lee could made them even better, but that was not management objective.

30 pieces of silver, that is all!

Chrysler exec’s have truly messed up that company. I just rented a Sebring… what a POS!

Unfortunately, those bonuses were negotiated long ago, and Chrysler is legally obligated to pay them out. Kinda like how union workers are currently make $75/hr. Everyone has to live with the agreed upon compensation until it’s time to re-negotiate.

Just Irrational!! Maybe it’s time for a round of bankruptcy to get rid of these negotiated contracts.

John Challenger said it all.

Chrysler used a be a good company because it used to be run by good management (Lee Iaccoaca…did I spell that right?) Chrysler is in the tank today because of bad management. You can blame the economy, the dollar, the unions (I think this one has some truth to it), free trade, killer bees, random freak electrical storms, gay marriages, whatever…it all comes down to bad management. Let this dog die and just maybe it can come back from the ruins to become a new better company – sans unionitis. The strong will survive, the stupid should perish from the earth…at least we shouldn’t assit parasites – I hate parasites.

assist parastis is what I meant…leeches, ticks, unions, and bonus executives are all parasites.

Well said. But one thing to note: While Lee Iaccoaca did save Chrysler in the ’80’s, they didn’t make great cars under his leadership either. K-car, LeBaron, Omni, Laser, New Yorker… the list of sub-par, mundane products goes on and on.

$75 an hour Detroitwatcher, dude shut the fu*k up.

Well, pay back is a bitch! If it is the Germans that are running this “American” company into the ground then maybe we should have just left them to rebuild themselves after WWII.

That makes about as much logic as paying out $30 million and then go running to congress to beg for billions to bail them out.

Here’s a novel idea, why don’t American citizens go to Washington, DC, encircle the capitol and tell the politicians to: FIX IT!!!!