In a message dated 11/19/98 11:51:52 PM Eastern Standard Time,
Walter_Felix@email.msn.com writes:
<< If the company eliminates his
position, they are required by law to provide him with another job within
the company.
One possible reason Daimler would not be able to move it's headquarters to
the US is because German law also requires that one quarter of a
corporation's board of directors be members of the worker's union. Moving
their headquarters here would mean the union members would loose their
controlling interest in the company. The union would not allow it. >>
What Walter says is true. However the company can pick up and go anywhere in
the world if they so choose. They have greater tax breaks as a company in
Germany due to the very reason that Walter states, that if they lay a person
off, they must find them another job in the company. Due to that, they have
tax relief's, although, Jurgen laid off close to 20,000 people not to long ago
when Daimler-Benz was going through tough times in other areas within the
company. Through that move, the company became profitable and yet was
penalized by the government there for laying off people and not compensating
them with jobs elsewhere.
We have been asking the movers and shakers for employee discounts on all
DaimlerChrysler products and yesterday received a letter from Herr Eaton
stating that due to the fact Benz products are behind on all orders and Tax
laws in Germany make it near impossible for German workers to buy Chrysler
vehicles, an extension of the employee purchase policy will not be taking
place. So the moral of my story is this, German tax laws good for company,
bad for employee! Oh, by the way, did anyone notice that Eaton claims that he
is not making any money off of this deal? His 69 million stock option must
not have paid off yet! And, yes there's more, when he retires in 3 years (or
less he says) he will recieve a pension from DaimlerChrysler of more than what
a lot of people make a year! He will recieve 30,000 per month! Must be nice,
atleast that way he wont have to dip into that 69 Mill+ he has in the bank!
Eric
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