Chrysler cuts 1200 jobs, Spends Millions on Super Bowl Ad
Chrysler just received an extension on the closing of their Sterling Heights plant in order to save a possible 1200 jobs. But they also spent millions on an upcoming Super Bowl Ad. Chrysler is negotiating to buy the Sterling Heights, Michigan Assembly Plant from its bankruptcy estate and save about 1,200 jobs that were expected to be eliminated at the end of 2010. “Sterling Heights City Council last month voted Jan. 19 to extend $7.4-million property in tax abatements to encourage Chrysler to keep the plant open as well as a nearby center where parts are organized before being taken to the production line. The extension was contingent on Chrysler reaching a deal with the bankruptcy court and the administrators of Old CarCo, the parts of old Chrysler that were not part of the taxpayer-funded restructuring, by today.”
But fear not, sports fans – 1200 people may be out of work by year’s end – but millions of government funds are being used to give Chrysler a slot during Super Bowl XLIV night. I mean, where else did they get the cash?
“Chrysler will be the only U.S. automaker to advertise in this year’s Super Bowl, forking over millions of dollars to restore its image following its bankruptcy and the federal bailout that followed. A 60-second spot is the longest and the most expensive ad available during the Super Bowl. The 30-second spots are more common, and are selling for about $3 million each according to Dana McClintock a spokesman for CBS, which is airing this year’s Super Bowl. It isn’t clear exactly how much Chrysler is paying, but CBS said on Thursday that it was close to selling out.”
Leave a Reply