California Autos Examiner

Wednesday, May 13, 2009

Pay Limits? We Don't Need No Stinking Pay Limits

And for every obstacle, there is a work around. In this particular case, management of the newly minted Chrysler / Fiat alliance will sidestep the Treasury's $500,000 pay cap by simply becoming Fiat employees who are "seconded" to Chrysler.

I suppose that this is only to be expected and I'm not up in arms about the run around. I do, however, find the $500K cap to be laughable and mostly for show. Certainly execs at other companies who could potentially be impacted by such a clause are finding similar loopholes.

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