REPORT: Chrysler working to skirt federally-manded $500,000 executive salary cap
ABC News dug through the Chrysler's bankruptcy documents and found "Any such seconded officer may receive supplemental employment compensation from Fiat ... notwithstanding any 'cap' on compensation payable to such officer ... under any Law, rule or policy applicable to the Company."
The Treasury Department isn't responding to questions about whether Fiat's plan is lawful and neither Chrysler nor it's new Italian suitor has said which, if any, of its employees will be "seconded" or what compensation will be made. Naturally, this report won't sit well with the MSM, not to mention the nearly 800 Chrysler/Dodge/Jeep dealers that were axed earlier today.
[Source: ABCNews via TTAC | Image Source: Sean Gallup]
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