Sunday, March 20, 2011

Donations for Japan Continue, Fiat Offers €100,000, Mercedes-Benz gives €2 Million

The donations for Japan keep coming in, with Mercedes-Benz’s parent company Daimler announcing today that it will provide €2 million (about US$2.8 million at today’s exchange rates) as immediate aid for the victims of the earthquake and tsunami in the Asian country. Daimler said it has approximately 13,000 employees in Japan through its subsidiaries Mitsubishi Fuso Truck and Bus Corporation, Mercedes-Benz Japan, as well as Daimler Financial Services.

The Fiat Group, which includes Alfa Romeo, Lancia, the Fiat brand, Abarth, Maserati and Ferrari, also announced a donation for relief efforts in Japan, albeit a much smaller amount at €100,000 (about $US140,000).

While we’re not saying that this is a competition as all donations are welcome, we can’t but think that Fiat’s contribution, which equates to roughly half the price of a new Ferrari model or around 0.8% of the total compensation Ferrari boss Luca Cordero di Montezemolo and Fiat Group CEO Sergio Marchionne received in 2010, is somewhat embarrassing for the size of the Italian company.

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