Tag: Taxpayer Bailouts

via NLPC

According to the piece, "To counter the severe slump in European sales, (Fiat CEO Sergio) Marchionne is considering building Chrysler models in Italy, including Jeeps, for export to North America. The Italian government is evaluating tax rebates on export goods to help Fiat. Marchionne may announce details of his plan as soon as Oct. 30, the people said."

So, let's be real clear here, we are talking about vehicles that will be built in Italy and exported to America. The evidence is clear that Fiat is looking at ways to move production of vehicles from the US to elsewhere, whether it be China or Italy, costing American jobs. This is becoming indisputable, despite outcries from certain parties to the contrary.

Rest

But, we're stuck on stupid in Michigan.  As I wrote before .. Bob King, won't have so much as a say about any of this in the nation-states ongoing struggle to not run out of other peoples money while funding their global Socialist Utopias.

As the Fiat and Chrysler automakers go global, so do their unions.

Fiat and Chrysler unions worldwide this week agreed to join in a global network aimed at a constant flow of information and defining a common strategy.

"The network is a signal to Fiat that the unions are united," Enzo Masini, auto coordinator at the FIOM union, said in a statement. "A global company requires a global union."

Their first common act will be a letter to Fiat and Chrysler CEO Sergio Marchionne asking for recognition.

Bob King, you better dust them prized knee pads of yours off.  Socialist Italy just declared you their new fluffer.

UAW President Bob King and about 100 UAW members flooded the first floor of the Guardian Building in Detroit shortly after 2 p.m. today and forced Bank of America to temporarily close.

King and the UAW protested the bank's receipt of taxpayer dollars and claimed that the bank paid no taxes in 2009.

King then led a larger group of UAW members in a chant at the corner of Griswold and Congress in Detroit.

"Banks get bailed out people get sold out," King chanted as the crowd joined in.

Although it didn't make a net profit last year, Chrysler Group LLC will give bonuses to its employees in the United States and Canada to recognize their efforts over the past year.

Chief Executive Sergio Marchionne revealed the plan for "performance award payments" today in a conference call outlining fourth-quarter and full-year financial results. Employees were informed by e-mail.

"It would have been inexcusable to not recognize what our people have done," Marchionne told analysts, explaining that the board agreed that rewarding Chrysler workers was more prudent than reducing the loss on the bottom line.

The amount will be disclosed in about a week, he said. Hourly and salaried workers will get bonuses.

It cannot be called profit sharing, as the automaker reported a loss of $652 million for the year. Marchionne said it is better classified as a performance award.

Now, how cool is that?  In other words, next time your household runs in the red ink, go out and have a steak and lobster dinner and just tell yourself that you deserve a reward.  And, oh, by the way... the folks at the next table?  You pick up the tab.  Damn, if Marchionne doesn't illustrate to folks that the Italians have been socialists since the days of Moussolini, nothing will.