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Friday, Feb 1, 2013 5:18 PM UTC

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

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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 Natasha Lennard.

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  • The protests take on a festive element as police forces move out of the park and square. Wearing a gas mask, this young man dances to traditional Turkish music in front of Taksim Square’s Ataturk Monument.

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  • Forming a line, the police face off directly with protesters in Taksim Square. After a while, they retreated and there was a general cheer – a back-and-forth dance that has been common since the beginning of this protest.

  • An elderly woman in Gezi Park reads the news. The tent community occupying the park was violently destroyed on June 16th.

  • Many different groups had set up booths to promote their cause in Taksim Square and Gezi Park. Standing in front of one, this man waves his flag while posing with conviction.

  • Many home-remedies are used to minimize the effects of tear gas. This woman has put a milky solution on her face, removing her mask after the tear gas dissipated. Before sunrise, the police came again for another round of teargasing.

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  • On Monday morning, June 11, the police execute a strong offensive. Many plain-clothed police officers, like the ones seen here, clash with protesters in the side streets away from the main stand-off in Taksim.

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