That's what should have happened in the first place, rather than bailing bankers out of their bad decisions/gambles. K&R

Just wondering...

Off topic?

For one thing, TARP had absolutely nothing to do with government assistance for the auto industry.

Also, TARP has been fully repaid with interest. So have the loans made to Chrysler.

According to various sites. This one, for example.

http://articles.businessinsider.com/2008-12-19/wall_street/29956277_1_firms-tarp-debt

As well as a TARP recipient list here:

http://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program

Or here:

http://www.autoobserver.com/2009/12/its-mostly-official-4-billion-of-chrysler-tarp-loans-a-writeoff.html

I tried to find full data on the amount repaid. It seems that a few bookeeping angles were used to determine that Chrysler in fact, repaid it's TARP loans in full. Several sites/organizations report that they have. So we'll go with that.

but I can't recall what the actual deal was with Fiat.

Whatever - any funds that Bush provided went into the old company and helped protect jobs in some shape or form.

I know this is "Horribly unAmerican" in Roveland. Rove said Chrysler will never pay back loans.

Has a nice ring to it huh?

Actually I can remember the day when around here in MA it was a rather common thing. Those days have long gone though, I think.

rich and saying how this is proof that unions profiting from this.

And the Limp Stream Media, will be just as lame in covering this.

Hello? Diane Sawyer?? Will you give this the attention that it deserves???

...not holding my breath.

Obama bailed out Chrysler and Chrysler is now paying bonuses to it's union employees during fundraising season so they can pay him back. It's a kickback.

They'll leave out that it was a lame-duck * who actually signed off on the Chrysler deal before Obama even took office.

Either that, or since Chrysler hasn't paid back every dime of it's TARP money, the workers are "stealing" from the taxpayers they borrowed money from.

I could just here right-wing corporate concubines bemoaning how much paying bonuses to the contemptible employees is going to add to the price of a car.

Obviously, it counts towards income tax for the workers who receive it.

then of course the company has not paid tax on it. Companies are taxed on profits : not costs.

It is salary expense.

it was paid to the workers

.... hire a local company to paint an autoworker's house and those painters
might stop in a local diner for breakfast before they go to work and their
tips might allow a waitress to take her kids for a trip to a State
Park for the 4th of July to see family, camp, and swim and some
might become rich in memories that they will tell their kids 15 years
from now ...... "here is a picture of Uncle Bob falling into the Lake
when the wind flipped his boat" ..... This is real grass roots stimulus
money.

Damn that Kenyan Socialist Obama!

belvidere plant is the most efficient auto assembly plant in the usa. they are also one of the largest employers in the area. chrysler, diamler/bez,and fiat have invested around 2 billion dollars in the last few years....this area of northern il needed some good news because every little bit erases the the bad news we have had for years.

Does that $345 million come after taxes or before? If it's before, its giving a bonus to the workers at the expense of the U.S. taxpayer who should be getting a share of the profits as corporate tax. Does this now put them into a loss of $149 million which can be written off against future earnings?

Profit:

http://www.bnn.ca/News/2012/2/1/Chrysler-reports-full-year-profit-on-strong-US-sales.aspx

That's the problem when you only get 2 1/2 hours of sleep a night for 3 days. Can't read the numbers on my calculator, so my post was screwed up...sorry.

The figure is $34,500,000

it s a cost paid as wages. Only shareholders are paid dividends from profits after corporation tax.

Basic rule is "once and employee, always an employee." What that means is any compensation an employee gets is treated as wages, subject to all taxes as such and is a deduction of the company. Assuming yout $183M is correct, that would mean they had profits of roughly $217.5 BEFORE the bonuses.

Since they're projecting over a billion in profit this year, the money will probably come out of that. And yes, I know I screwed up on the amount of bonuses...see my earlier post.

Our work usually releases earnings in the morning and then announces bonuses a few weeks later. However, they have the bonuses calculated before reporting earnings.

I worry about stuff like this.

i have no idea what the hell people are going on about in this thread. as a former heavy metal worker who used to get profit sharing i`m happy as hell the chrysler workers are getting a bonus for helping turn around the company. their new dart model has`t hit the showroom yet!

by the way the chrysler `s profits have kept their parent company fiat out of bankruptcy....


union made in the usa!

BTW.. that Superbowl Chrysler commercial with Clint Eastwood was awsome. He laid it on the line. The Repukes couldn't stand it because the truth burns their slimy greedy ears.

I agree this is crazy