Monday, June 04, 2007

Jumbo Schrempp Payoff for Chrysler Sale
Juergen Schrempp to receive $134 million from Cerburus Sale?

The Detroit Free Press reports that whatever happens to everybody else connected to Chrysler, former DCX CEO Jurgen Shrempp will come out just fine, thank you very much. He is set to receive 100 million Euros and some change in exchange for his stock options. That's equivalent to the 1340 times the annual $100,000 compensation of the "overpaid" UAW workers, and over 2000 times the annual salary of a typical UAW-LSP attorney. I hope he's paying German income tax rates on that money.

Thanks to Ken W. for the tip.
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