Monday, April 20, 2009

Greed of executives may kill Chrysler.

I blogged about this earlier when I noted that the auto manufacturers were shunning bankruptcy because of the executive compensation issue.

Now, it seems my prediction was true.

Chrysler, a company in danger of dying, has turned down federal loans to keep itself afloat because of...(drum roll please) EXECUTIVE COMPENSATION.

Sometimes the greed of a few can kill the livelihood of thousands.

Too bad.