June 4th, 2009
11:24 PM ET

$20 million in bonuses for Chrysler execs?

Justine Redman and Joe Johns
AC360º Producer and Correspondent

Grilled at a Senate hearing Wednesday, the President of Chrysler couldn't answer a question about whether 15 Chrysler employees stand to get $20 million in bonuses.  Keeping them honest, we want to know the answer too. Please send us your confidential tips to AC360KTH@CNN.com

Here is an excerpt from a Senate committee hearing yesterday on GM and Chrysler plans to close dealerships, and how to protect dealers and consumers:

SENATOR MCCASKILL: This is a difficult question, Mr. Press, but I looked and I have - we've gotten some information that came to us back channel about the DIP budget, and this is the debtor in possession budget in the bankruptcy. And it talks about the budget for the old company. And what troubles me in there, there's an acknowledgement that there may be up to 15 employees of old Chrysler working on this bankruptcy and there is a pool in this budget of up to $20 million for bonuses.

I can't imagine what kind of kick in the gut that would be if we were to learn in the next two weeks that some of the old Chrysler folks - which are getting paid their salaries, which they should, you guys are doing hard work.


Filed under: 360° Radar • auto bailout • Joe Johns • Justine Redman
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