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thewayneHeh. I didn't remember that Lee Iacocca accepted that deal when he resurrected Chrysler all those years ago; the current head of Chrysler was willing to negotiate the point. It's intended as a symbolic offering that the C levels are willing to sacrifice to save their company, I guess they're not quite as altruistic or have as much faith in their companies as they might like to appear to have.
http://money.cnn.com/news/newsfeeds/articles/djf500/200811191506DOWJONESDJONLINE000837_FORTUNE5.htm
And in another article, Mitt Romney says don't bail out Detroit: force them to fix their own problems or fail. He says that bailing them out now would prolong the agony and guarantee future failure.
http://www.nytimes.com/2008/11/19/opinion/19romney.html?_r=3&adxnnl=1&oref=slogin&rss=&adxnnlx=1227200794-SUNxeHNW+PQw6oB2+TtRhA
Since it's an NYT post, the link could go dead, so search for Let Detroit Go Bankrupt and Mitt Romney to find it in the future.
http://money.cnn.com/news/newsfeeds/articles/djf500/200811191506DOWJONESDJONLINE000837_FORTUNE5.htm
And in another article, Mitt Romney says don't bail out Detroit: force them to fix their own problems or fail. He says that bailing them out now would prolong the agony and guarantee future failure.
http://www.nytimes.com/2008/11/19/opinion/19romney.html?_r=3&adxnnl=1&oref=slogin&rss=&adxnnlx=1227200794-SUNxeHNW+PQw6oB2+TtRhA
Since it's an NYT post, the link could go dead, so search for Let Detroit Go Bankrupt and Mitt Romney to find it in the future.
