The Spark

“The emancipation of the working class will only be achieved by the working class itself.” — Karl Marx

DaimlerChrysler:
Losses don't count when it comes to rewarding the stockholders

Feb 19, 2001

Announcing huge layoffs and factory closings, DaimlerChrysler claims it is broke, losing 1.7 billion dollars in the last six months of 2000.

But, if you are a DaimlerChrysler stockholder, your dividends will be paid. The company happened to find a spare two billion dollars or so to pay the dividends.

What a relief –for the stockholders (who knew all along that this talk of billion dollar losses was nothing but a way to extort more concessions from the workers.)