Iacocca Getting Hosed By Chrysler
I haven't been feeling the blog lately, so my apologies for not writing as my main job has kept me really buse. However, I could not pass up the opportunity to comment on how former Chrysler CEO Lee Iacocca is getting royally hosed by Chrysler going into bankruptcy.
Now, I am sure he is not relying on his pension to live out his retirement, but he worked his ass off in the 1980's saving the company from the brink of extinction. Don't feel too bad for him, as he has his millions. His reward for retirement was a free car for life and a nice pension. Not anymore.
Chrysler CEO Robert Nardelli told a U.S. bankruptcy court on Thursday that Iacocca's pension would be among the obligations Chrysler will no longer have to pay if it gets bankruptcy court approval to sell itself to a "New Chrysler" to be owned by its union, the U.S. and Canadian governments and Fiat.
Chrysler said it regretted the action "in light of the many contributions these individuals have made to Chrysler over the years" and that the "New Chrysler" does not expect to reinstate the car program. Umm-hmm, sure you do you jackanapes.
Bottom line folks. Don't trust anyone when it comes to your work. Make sure you are in control of your money, and have multiple streams of income.
Labels: Chrysler stinks, Iacocca, lost pension











