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.)