Chrysler to give some profits back to workers

In a surprise and rare move, the automaker will be rewarding those who worked to bring in major profits

Topics: Chrysler, United Auto Workers, Auto Bailout,

Chrysler to give some profits back to workers(Credit: AP)

A major corporation is sharing profits with its workers? What sort of death spiral toward Stalin’s gulags does Chrysler want to put us on?

Aol reported Friday that, following a major turnaround since its government bailout four years ago, Chrysler planned to reward its workers with a share of profits. “There can be no more doubt that our comeback is real,” Chrysler CEO and Chairman Sergio Marchionne said in an email to workers, adding that the “credit for our turnaround is yours.” The automaker’s turnaround included a $1.7 billion profit, up from $183 million in 2011.

According to Chrysler’s current contract with the United Auto Workers, eligible union members should expect to receive a check of about $2,250. This is not the first time Marchionne has acted as an untypical CEO. In 2010 and 2011, following the bailout, he turned down both a salary and a bonus for two years in a row.

Natasha Lennard

Natasha Lennard is an assistant news editor at Salon, covering non-electoral politics, general news and rabble-rousing. Follow her on Twitter @natashalennard, email nlennard@salon.com.

More Related Stories

Featured Slide Shows

  • Share on Twitter
  • Share on Facebook
  • 1 of 10
  • Close
  • Fullscreen
  • Thumbnails

    Romance novels need a canon

    "Bet Me" by Jennifer Crusie

    A contemporary romantic comedy set to Elvis Costello and lots of luxurious and sinful sugary treats.   Read the whole essay.

    Romance novels need a canon

    "Welcome to Temptation" by Jennifer Crusie

    Another of Crusie's romantic comedies, this one in the shadow of an ostentatiously phallic water tower.   Read the whole essay.

    Romance novels need a canon

    "A Gentleman Undone" by Cecilia Grant

    A Regency romance with beautifully broken people and some seriously steamy sex.   Read the whole essay.

    Romance novels need a canon

    "Black Silk" by Judith Ivory

    A beautifully written, exquisitely slow-building Regency; the plot is centered on a box with some very curious images, as Edward Gorey might say.   Read the whole essay.

    Romance novels need a canon

    "For My Lady's Heart" by Laura Kinsale

    A medieval romance, the period piece functions much like a dystopia, with the courageous lady and noble knight struggling to find happiness despite the authoritarian society.   Read the whole essay.

    Romance novels need a canon

    "Sweet Disorder" by Rose Lerner

    A Regency that uses the limitations on women of the time to good effect; the main character is poor and needs to sell her vote ... or rather her husband's vote. But to sell it, she needs to get a husband first ...   Read the whole essay.

    Romance novels need a canon

    "Frenemy of the People" by Nora Olsen

    Clarissa is sitting at an awards banquet when she suddenly realizes she likes pictures of Kimye for both Kim and Kanye and she is totally bi. So she texts to all her friends, "I am totally bi!" Drama and romance ensue ... but not quite with who she expects. I got an advanced copy of this YA lesbian romance, and I’d urge folks to reserve a copy; it’s a delight.   Read the whole essay.

    Romance novels need a canon

    "The Slightest Provocation" by Pam Rosenthal

    A separated couple works to reconcile against a background of political intrigue; sort of "His Gal Friday" as a spy novel set in the Regency.   Read the whole essay.

    Romance novels need a canon

    "Again" by Kathleen Gilles Seidel

    Set among workers on a period soap opera, it manages to be contemporary and historical both at the same time.   Read the whole essay.

  • Recent Slide Shows

Comments

0 Comments

Comment Preview

Your name will appear as username ( settings | log out )

You may use these HTML tags and attributes: <a href=""> <b> <em> <strong> <i> <blockquote>