A major corporation is sharing profits with its workers? What sort of death spiral towards Stalin’s gulags does Chrysler want to put us on?
Aol reported Friday that, following a major turnaround since its government bailout four years ago, Chrysler planned to reward its workers with a share of profits. “There can be no more doubt that our comeback is real,” Chrysler CEO and chairman Sergio Marchionne, said in an email to workers, adding that the “credit for our turnaround is yours.” The automaker’s turnaround included a $1.7 billion profit, up from $183 million in 2011.
According to Chrysler’s current contract with the United Auto Workers, eligible union members should expect to receive a check of about $2,250. This is not the first time Marchionne has acted as an untypical CEO. In 2010 and 2011, following the bailout, he turned down both a salary and a bonus for two years in a row.
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A new photo-heavy book, Inside the Favelas, explores with great depth the shantytown neighborhoods of Rio de Janeiro.Photographer and author Douglas Mayhew digs deep into the economies and societies of these slums, documenting a much more interesting version of the city than is usually seen in beach-and-bikini postcards.A forward from the governor of the state of Rio de Janeiro, Sergio Cabral Filho, sets the tone for the book:Inside the Favelas is the result of diligent work and research, whose richness of detail offers the reader a historic and sociological view of the day-to-day life of the favelas communitities infiltrated by the drug traffickers and the struggle for peace and consolidation since the installation of the [Police Peace Units]. Reason and sensibility are found in his sound text, in the fine writing and in the photos.Read More…
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Renowned for crafting Ferraris, he also applied his talents to less exotic models from Peugeot, Mitsubishi and Hyundai. … Read More