TLP: eBay Auction For Obamamobile Fails, But Seller Still Has Hope
Timing is everything. Well, not everything, but in the case of the guy who tried to sell a car Barack Obama used to smoke in on his way to the Illinois statehouse, it might have mattered.
An Illinois man who listed President Obama's old Chrysler 300C on eBay for $1 million came up short this week -- as his auction ended without a single bidder.Good luck with that. Although, who knows, Obama has a way of making Chryslers sell. Of course, that took a lot more than $1 million to bring about. And now the bailed-out automaker is making profit-sharing payments to workers.
As The Huffington Post reported earlier this week, Tim O'Boyle, listed the 2005 sedan on eBay hoping to hit the jackpot when the auction ended Wednesday night.
Lisa Czibor, who was conducting the auction for O'Boyle, told the Chicago Tribune that the owner wants to relist the car in a few months -- when the presidential election nears.
"We're trying to talk him into rerunning it now and making some changes to (the listing)," Czibor told the paper. "Lowering the price, and contacting Obama to find out if there's a charity he'd like us to donate some of the profits to."
The Washington Post reports:
Factory workers at Chrysler will get profit-sharing checks of about $1,500 next month as they share in the automaker’s improbable turnaround.All the owner of Obama's old car has to do now is convince a bunch of Chrysler workers to chip in and bid for the thing. Shouldn't be hard: after all, it's got a hemi.
About 26,000 union-represented workers in the U.S. should get the payments under Chrysler’s contract with the United Auto Workers union that was signed last fall.
Chrysler wouldn’t say how much the workers will get. The profit-sharing figure is based on an Associated Press analysis of company earnings, and the labor contract formula for profit-sharing.
The checks are based on Chrysler’s $2 billion operating profit for 2011, reported on Wednesday. Chrysler reported full-year net income of $183 million, its first since 1997.
The payments are another sign that Chrysler has recovered from its near-collapse in 2009, when it needed a $12.5 billion government bailout and a trip through bankruptcy protection to stay in business. Chrysler has since repaid its U.S. and Canadian government loans by refinancing them, but the U.S. government says it will lose about $1.3 billion on the bailout deal, which included Chrysler’s financial arm.