Saturday, May 30, 2009

Lee Iacocca losing pension, car in Chrysler bankruptcy

NEW YORK - Lee Iacocca, the car executive credited with saving Chrysler from bankruptcy in the 1980s, is to lose a big chunk of his pension and a guaranteed life-long company car due to the U.S. automaker's bankruptcy filing two decades later.
Chrysler CEO Robert Nardelli told a U.S. bankruptcy court on Thursday that Iacocca's pension would be among the obligations Chrysler will no longer have to pay. More... Discount Magazine Subscriptions - Discount Cigarettes and Tobacco - - Shriners Hospitals for Children