Chrysler Execs Dodge Bailout Pay Caps

Bankruptcy documents filed by Chrysler show that the chief executives of the bailed-out automaker will avoid executive pay restrictions—by declaring themselves employees of Fiat. Despite new Treasury rules that cap pay at $500,000 for execs whose firms received "extraordinary assistance," but Chrysler's top officers will be able to take pay from its new Italian owner. The automaker is nevertheless trying to cut 3,500 jobs, reports the Detroit Free Press.