The Chrysler Donkeys
Bailouts is the word that you got to get your self used too this year. Many companies are going to the dogs and many countries around the world are helping their “national” companies which provide jobs to millions of their people some hope of survival.
This money is tax payers money which is managed by the government who later give it out to these companies who than manage it in ensuring the company makes it through the hard times. So Chrysler which was rumored to be bust without the bailout got some help from the American government, how much…Just under 3billion US dollars.
What would they do with this money?
In return for the bailout GM and Chrysler have promised major reorganisations to cut spending. They include limits on their bosses’ pay and forcing the unions to accept steep wage cuts which they are not keen to do.
Instead, these morons ran full page advertisements across the nation’s papers thanking America for the bailout! Imagine that! The minute someone gives you money to save your company,you go out and blow some more money! They could have ran this ad online and thank the world ,leave alone America for almost no cost?
I guess this is a sneak preview to Americans on how their tax money is going to be spent!
I hope this does not happen in Malaysia, because if it does i don’t think we should let the companies get away with day light robbery! (not like it doesn’t happen 🙂 )