Chrysler "repossessing" Lee Iacocca's company cars
#1
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Chrysler "repossessing" Lee Iacocca's company cars
One of the perks of being an ex-Chrysler Exec was company cars for life. Not any more. Oh, the cruel irony of repo'ing cars from Lee Iacocca, the person responsible for saving Chrysler from bankruptcy, because of bankruptcy.
In a letter obtained by Fox Business Network, the Chrysler HR division tells execs they can either turn the vehicles back in or purchase them at fair value. This means Iacocca has the choice of either turning back in both the Chrysler Town & Country and the 300C he's driving around in, or buying them both (thus doubling Chrysler's projected sales for the month). The letter ends by noting the "many contributions you have made to Chrysler" but says it's a necessary move.
In a letter obtained by Fox Business Network, the Chrysler HR division tells execs they can either turn the vehicles back in or purchase them at fair value. This means Iacocca has the choice of either turning back in both the Chrysler Town & Country and the 300C he's driving around in, or buying them both (thus doubling Chrysler's projected sales for the month). The letter ends by noting the "many contributions you have made to Chrysler" but says it's a necessary move.
#2
I bet he never thought this would happen when he was taking care of things. I feel bad for the guy, but not that bad. He can afford to pay for his own cars.... and nicer cars for that matter
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#8
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Its sad b/c here is a guy that took Chrsyler from the brink in the 1970s and turned them around. He did get a govt loan and paid it back 7/8 years EARLY!!! Let the man keep a 300C and Van, its not breaking your company and he deserves it, unlike most of the failing upwards leaders/management they have had for decades.
#14
Actually, Fiats over the last 20 years have become reliable, stylish, and fun
and Fiat itself has become profitable in the process.
The same can't be said for the "big three..."
The paint looks dull due to either the photo or a PhotoShop job.
I will rock a Fiat 500 Abarth if they ever come to the US.
The European Car of the Year award, Europe's premier automotive trophy for the past 40 years, has been awarded twelve times to the Fiat Group, more than any other manufacturer. Most recently the Fiat Nuova 500 has won the award for European Car of the Year 2008.
Last edited by SoCalSC4; 05-22-09 at 06:52 PM.
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