Main3s Posted December 2, 2008 Report Share Posted December 2, 2008 DETROIT – Ford Motor Co. will tell Congress that it plans to return to a pretax profit or break even in 2011 when the Detroit Three automakers' CEOs appear before lawmakers this week to request $25 billion in government loans. Ford CEO Alan Mulally said he'll work for $1 per year if the company has to take any government loan money. After grilling the CEOs at hearings last month, Congressional leaders demanded plans from the automakers by Tuesday to show that they will survive if they get federal funds. The plan Ford submitted said the company will cancel all management employees' 2009 bonuses and will not pay any merit increases for its North American salaried employees next year. The company also said it will sell its five corporate aircraft. The CEOs of all three Detroit automakers were harshly criticized during last month's hearings for flying to Washington in separate corporate jets. Does this rub anyone else the wrong way? I understand that the automotive industry is a huge employer, not just to those at the plants. I also understand that without them things would be very bad, probably more then most would expect. But the fact that these CEO fuckwads say “I’ll work for a dollar a year if you give me a loan” is almost offensive. It just goes to show how long they’ve been fucking the system and rollin in the $$$ while their business takes a shit… They probably could actually work for a dollar and be alright because of how much money they’ve mad in the past. Now they see the dark side of things and they want to cry and play the pity card . I would'nt give those sorry mother fuckers a dime... I'd fire them, offer them a jod stamping bumpers and hire new CEO's. I don't know why, but this artical pised me off. The rest of the artical. http://news.yahoo.com/s/ap/20081202/ap_on_go_co/meltdown_autos Quote Link to comment Share on other sites More sharing options...
Mallard Posted December 2, 2008 Report Share Posted December 2, 2008 Congress asked them during the previous hearings if they would be willing to do that (because one of them already did). This was in response to that. Quote Link to comment Share on other sites More sharing options...
tasteslikeKevinBacon Posted December 2, 2008 Report Share Posted December 2, 2008 doesn't google's CEO have $1 annual salary too? Quote Link to comment Share on other sites More sharing options...
Scotty2Hotty Posted December 2, 2008 Report Share Posted December 2, 2008 He'll work for $1 this year, then $5.9 Million next year to make up. Quote Link to comment Share on other sites More sharing options...
Main3s Posted December 2, 2008 Author Report Share Posted December 2, 2008 doesn't google's CEO have $1 annual salary too? I'm not sure, but if he does it's only because he made billions on google. He's not working for a dollar to be humble. He'll work for $1 this year, then $5.9 Million next year to make up. Exactly Quote Link to comment Share on other sites More sharing options...
Scotty2Hotty Posted December 2, 2008 Report Share Posted December 2, 2008 You would think large businesses like that could've seen their #'s decline and could've done something to combat it. If the Big 3 were smart, they'd stop changing models every 5 years. GM made a killing on the 88-98 body style trucks. Ford should also kick themselves for dropping the Ranger, that was a little cash cow. Bed design hasn't changed, cheap truck, decent milage, and a good fleet vehicle. Quote Link to comment Share on other sites More sharing options...
TTQ B4U Posted December 2, 2008 Report Share Posted December 2, 2008 Does this rub anyone else the wrong way? I understand that the automotive industry is a huge employer, not just to those at the plants. I also understand that without them things would be very bad, probably more then most would expect. But the fact that these CEO fuckwads say “I’ll work for a dollar a year if you give me a loan” is almost offensive. It just goes to show how long they’ve been fucking the system and rollin in the $$$ while their business takes a shit… They probably could actually work for a dollar and be alright because of how much money they’ve mad in the past. Now they see the dark side of things and they want to cry and play the pity card . I would'nt give those sorry mother fuckers a dime... I'd fire them, offer them a jod stamping bumpers and hire new CEO's. I don't know why, but this artical pised me off. The fact that they make millions doesn't piss me off. They are CEO's and of the largest companies we have and I expect their pay to be commensurate with their experience and responsibilities. Hell the CEO of my previous company of only $120M in revenue likely takes home several million per year....as he should. The fact that these idiots have a job still while doing poorly as a business or getting bonuses that are obviously not tied to profitability does piss me off though. IMO, those responsible for P&L should be paid a base plus bonus based on profitability. What pisses me off more is that a union worker working on an assembly line makes more than the average college grad. I'm sorry, but grunt labor is grunt labor and they should be making wages far lower than what the big three are having to shell out to them. Same with their retirement packages. Quote Link to comment Share on other sites More sharing options...
Main3s Posted December 2, 2008 Author Report Share Posted December 2, 2008 I agree this is America if you're smart and work hard and become a CEO that makes millions that fine. But as a CEO, especially if you're the CEO of a huge business like Ford, you have a responsibility to the community and your workers to manage it properly. And when you loose a billion dollars a quarter, that's not smart and defiantly not something that just happens. Now they're crying because they feel the heat and want the people they've been screwing for years (Tax payers) to bail them out loan or not. Quote Link to comment Share on other sites More sharing options...
87GT Posted December 2, 2008 Report Share Posted December 2, 2008 The fact that they make millions doesn't piss me off. They are CEO's and of the largest companies we have and I expect their pay to be commensurate with their experience and responsibilities. Hell the CEO of my previous company of only $120M in revenue likely takes home several million per year....as he should. The fact that these idiots have a job still while doing poorly as a business or getting bonuses that are obviously not tied to profitability does piss me off though. IMO, those responsible for P&L should be paid a base plus bonus based on profitability. What pisses me off more is that a union worker working on an assembly line makes more than the average college grad. I'm sorry, but grunt labor is grunt labor and they should be making wages far lower than what the big three are having to shell out to them. Same with their retirement packages. Yeah I really hate unions. You should be paid by how well you work. If you bust your ass all year you should get a big raise. If you slack off for 30 years straight then you shouldn't be making more then a college grad like you said. Quote Link to comment Share on other sites More sharing options...
500HP RX-7 Posted December 2, 2008 Report Share Posted December 2, 2008 His base is $1 but his bonus could be $5m. Most CEO's dont make their fortune off base pay. Its always stock options and their bonus could be triple their base. Although I doubt he is going to get a bonus this year. Quote Link to comment Share on other sites More sharing options...
Putty Posted December 2, 2008 Report Share Posted December 2, 2008 F em Quote Link to comment Share on other sites More sharing options...
wnaplay1647545503 Posted December 2, 2008 Report Share Posted December 2, 2008 If they ran the companies into the ground, why do they still have jobs? Shouldnt they be fired and let someone else have a crack at it? Quote Link to comment Share on other sites More sharing options...
LJ Posted December 2, 2008 Report Share Posted December 2, 2008 His base is $1 but his bonus could be $5m. Most CEO's dont make their fortune off base pay. Its always stock options and their bonus could be triple their base. Although I doubt he is going to get a bonus this year. This. I don't care how much he gets in options, I'd be more concerned with a bonus. Quote Link to comment Share on other sites More sharing options...
TTQ B4U Posted December 2, 2008 Report Share Posted December 2, 2008 His base is $1 but his bonus could be $5m. Most CEO's dont make their fortune off base pay. Its always stock options and their bonus could be triple their base. Although I doubt he is going to get a bonus this year. It's not a fortune, but $1.2M isn't chump change. As of 2007 G. Richard Wagoner, General Motors Corp. Total compensation: $7,095,593 Salary: $1,283,333 Bonus: $0 Stock awards: $3,574,594 Incentive plan/retirement: $1,468,100 Other compensation: $769,566 Value of options: $0 Quote Link to comment Share on other sites More sharing options...
TTQ B4U Posted December 2, 2008 Report Share Posted December 2, 2008 This is older...2007 information from a new release In 2007, Ford Motor Co. paid Alan Mulally, president and CEO, $2 million in salary and incentive bonus awards of $7 million. His total 2007 compensation was $21,670,674 Ford reported. WOW! The automaker continues to allow Mulally, his family and guests use company aircraft, totaling $752,203 for 2007. Also included in his perks is $109,543 for his costs of relocating to Detroit and temporary housing. In 2007, Ford also paid $298,346 in tax reimbursements, $32,976 in insurance premiums and contributed $14,625 to his retirement and benefit plan. Mulally, as well as other top Ford executives, also gets two free company vehicles and a home security evaluation and system. Quote Link to comment Share on other sites More sharing options...
Adam Posted December 3, 2008 Report Share Posted December 3, 2008 ceo's salaries needs to be directly tied to the profits their companies make Quote Link to comment Share on other sites More sharing options...
Mr. Jones Posted December 3, 2008 Report Share Posted December 3, 2008 ceo's salaries needs to be directly tied to the profits their companies make *cough * Warren Buffet *cough* Quote Link to comment Share on other sites More sharing options...
Nitrousbird Posted December 3, 2008 Report Share Posted December 3, 2008 The only thing they should be asking for is to have the gov't disolve the UAW. From there, everything will work itself out. Quote Link to comment Share on other sites More sharing options...
KillJoy Posted December 3, 2008 Report Share Posted December 3, 2008 The only thing they should be asking for is to have the gov't disolve the UAW. From there, everything will work itself out. Fucking TRUTH!!! :bangbang: KillJoy Quote Link to comment Share on other sites More sharing options...
coltboostin Posted December 3, 2008 Report Share Posted December 3, 2008 His base is $1 but his bonus could be $5m. Most CEO's dont make their fortune off base pay. Its always stock options and their bonus could be triple their base. Although I doubt he is going to get a bonus this year. Bingo. NO CEO rakes in the big money on their base salary-its on stock options, dividend payouts, bonuses....ect. Quote Link to comment Share on other sites More sharing options...
Main3s Posted December 3, 2008 Author Report Share Posted December 3, 2008 This is older...2007 information from a new release In 2007, Ford Motor Co. paid Alan Mulally, president and CEO, $2 million in salary and incentive bonus awards of $7 million. His total 2007 compensation was $21,670,674 Ford reported. WOW! The automaker continues to allow Mulally, his family and guests use company aircraft, totaling $752,203 for 2007. Also included in his perks is $109,543 for his costs of relocating to Detroit and temporary housing. In 2007, Ford also paid $298,346 in tax reimbursements, $32,976 in insurance premiums and contributed $14,625 to his retirement and benefit plan. Mulally, as well as other top Ford executives, also gets two free company vehicles and a home security evaluation and system. A 7 million dollar incentive award in 2007, when they had to have known they were going down the crapper :jerkit: Quote Link to comment Share on other sites More sharing options...
Main3s Posted December 3, 2008 Author Report Share Posted December 3, 2008 Bingo. NO CEO rakes in the big money on their base salary-its on stock options, dividend payouts, bonuses....ect. Not to get off topic, but did you get your G35 yet? Quote Link to comment Share on other sites More sharing options...
rl Posted December 3, 2008 Report Share Posted December 3, 2008 *cough * Warren Buffet *cough* Now if I could just afford some BRK-A... Quote Link to comment Share on other sites More sharing options...
Mr. Jones Posted December 3, 2008 Report Share Posted December 3, 2008 Now if I could just afford some BRK-A... New thread entitled: "If you could afford a single share, what car would you drive" Quote Link to comment Share on other sites More sharing options...
rl Posted December 3, 2008 Report Share Posted December 3, 2008 New thread entitled: "If you could afford a single share, what car would you drive" People have made enough off swing trading BRK-A to buy some cars in that thread. Quote Link to comment Share on other sites More sharing options...
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