And you thought Fords ceo salary was bad?

[jordanr1987]

Despite only holding the reins of General Motors for the last four months of 2010, company CEO Dan Akerson received US $2.5 million in compensation last year. Akerson took over the post from Ed Whitacre on Sept. 1, after Whitacre stepped down. According to The Detroit News, Akerson was paid US $566,667 in salary from GM and a further US $1.76 million in stock awards. Not bad for four months' work.

Akerson's earnings are subject to review by the US federal government, since they still own a 32 percent share of the company. For 2011, Akerson won't get a raise, which means he'll earn US $9 million this year, the same amount Ed Whitacre would have been paid had he made it an entire year.

http://ca.autoblog.com/2011/04/23/re...llion-in-2010/

[rsasp]

jeez.
they definitely do not deserve that much.

[Ojam]

I don't get the Ford reference? That also doesn't seem like that much for a CEO, you have to pay a competitive amount to get good people.

[Engi-Nir]

yes pay them all 100 dollars..

2.5million is nothing

[ItemFinder]

You're just jealous.

[KorruptioN]

jeez.
they definitely do not deserve that much.

How much do you think they should get? Are you qualified enough to be making such a statement? Are you a shareholder?

[taylyn]

I don;t have any issues with how much CEOs are paid to run muti-billion dollar companies. This guy holds a Bachelor of Science degree in engineering from the United States Naval Academy and a Master of Science degree in economics from the London School of Economics. Not to mention his years of executive experience. These guys are not bums off the street, and a guy with no high school working the line should not even be in the same category as these business people. Not everyone is created equal, jobs are not created equal, and very few people could ever hope to attain such high executive positions - that's why the pay is so high.

[m4gician]

jeez.
they definitely do not deserve that much.

OMG only $2.5million? Where do I buy my next GM car and give my bail out money! These guys are too big to fail!!! Quick!

[conix67]

I think a while back some news paper asked CEOs from top 50 companies with the question - "Do you deserve the multi million salary?", and only one came forward and explained but his explanations weren't very satisfying.

The problem with CEO's from today's large companies, along with board of directors, is most of them don't really have a good idea what business they are in, and where they are headed, and what they need to do get better. Not many put their heart and soul in the company, they are just hired to somehow make their companies look better to shareholders. They will do whatever it takes to accomplish this. If they fail, they will set themselves up with nice fat packages that the failure simply won't matter.

They are in it for short term gains, as most CEO's position are short lived. With that, I see most CEO's really focusing on squeezing as much dough as possible from the company while they are with them. They will do whatever they can to save money, and these days the popular tactics are - layoffs and subcontracting to third world countries.

Just look at all the large Canadian tech companies that disappeared over the last few years. Look at the Wall Street problems few years ago. How can one pay themselves bonuses with tax money while their company's gone bankrupt?

There aren't many CEOs who deserve their pay today..

[geokilla]

Welcome to capitalism

[zzz3]

I don't get the Ford reference? That also doesn't seem like that much for a CEO, you have to pay a competitive amount to get good people.

op is delusional. no one thinks mulally's salary was bad, if anything it wasnt enough.

anyways, while you guys argue about multi-millionaire executives, hedge fund managers et al. are laughing all the way to bank with billions of dollars in compensation.

[dealsaddict]

Mulally's compensations for 2010 ( some of them deferred from previous years) worked out to be about 0.41 to 1.0% commission on Ford's 2010 net profit.

[jordanr1987]

op is delusional. no one thinks mulally's salary was bad, if anything it wasnt enough. .

am i?
http://forums.redflagdeals.com/uaw-b.../#post12632280

The CEO is greedy. The whole company performed well and the profits ought to be distributed evenly; if they are not, then Ford supports an imperial ruling class and a wider division between rich and poor.

he didn't turn anything around. He got lucky with the US gov't bailing out the industry. It's like saying oil execs deserve so much $$ when all they're benefiting from is rise in global oil prices in which they did nothing to make happen.

What he counldn't live on 2 million a year. He'll probably move his money to offshore accounts and not pay any tax. Better the money to be share by 1000+ than by 1 man. Those 1000+ workers also helped turn around Ford also, but I guess they should just be thankful they have jobs right?

Ford got lucky.

They secured a large credit line just prior to the crash. Without that, they would have been in the same position as the other two and would have accepted gov't money.

Mulally is still the best CEO of the Big3, however. By a mile.

shall i keep going? am i still delusional?


aaaaaaaand my point was that it was for 4 MONTHS OF WORK
fords was an entire year yet this guy still makes 2 million for 4 MONTHS OF WORK

[Piro21]

am i?
http://forums.redflagdeals.com/uaw-b.../#post12632280

shall i keep going? am i still delusional?

aaaaaaaand my point was that it was for 4 MONTHS OF WORK
fords was an entire year yet this guy still makes 2 million for 4 MONTHS OF WORK

The Ford CEO deserved every cent of what he got because of what he did.

There are union employees out there who get paid more than doctors to do something the 15-year-old employees you see at the movies do for minimum wage. There are CRA workers that got paid over $20,000 in 'termination' and went to work at the same job the next day. How's that for an 'imperial ruling class'?

[zzz3]

am i?
http://forums.redflagdeals.com/uaw-b.../#post12632280


Quote Originally Posted by jayt90 View Post
The CEO is greedy. The whole company performed well and the profits ought to be distributed evenly; if they are not, then Ford supports an imperial ruling class and a wider division between rich and poor.

Quote Originally Posted by gilboman View Post
he didn't turn anything around. He got lucky with the US gov't bailing out the industry. It's like saying oil execs deserve so much $$ when all they're benefiting from is rise in global oil prices in which they did nothing to make happen.

Quote Originally Posted by cyop_42 View Post
What he counldn't live on 2 million a year. He'll probably move his money to offshore accounts and not pay any tax. Better the money to be share by 1000+ than by 1 man. Those 1000+ workers also helped turn around Ford also, but I guess they should just be thankful they have jobs right?

Quote Originally Posted by MacBuster View Post
Ford got lucky.

They secured a large credit line just prior to the crash. Without that, they would have been in the same position as the other two and would have accepted gov't money.

Mulally is still the best CEO of the Big3, however. By a mile.



shall i keep going? am i still delusional?


aaaaaaaand my point was that it was for 4 MONTHS OF WORK
fords was an entire year yet this guy still makes 2 million for 4 MONTHS OF WORK

you jeopardized your original point the minute you decided to introduce your argument via the title: "And you thought Fords ceo salary was bad?". there is no truth to it, see below.


quote 1, just an opinion. does not define greedy or what constitutes a fair salary, profit distribution.

quote 2, misinformed troll. mulally did not get lucky. he took loan in 2006 as a precaution (not luck, rather foresight)

On Nov. 29, 2006, Ford Motor made a surprising pitch to the nation’s biggest banks. In a packed ballroom at a New York hotel, Ford’s chief executive, Alan R. Mulally, said he would mortgage all the company’s assets for billions of dollars in loans to finance an overhaul of the troubled automaker. Although the economy was healthy then, Mr. Mulally said the money would give Ford “a cushion to protect for a recession or other unexpected event.”

http://www.nytimes.com/2009/04/09/bu...%20ford&st=cse

quote 3, speculation (no evidence). just because mulally is a ceo, one can automatically throw out stereotypes and accuse him of hiding money in off shore bank accounts? as for bonuses and profit sharing see below:
employees received a bonus in 08 despite loses
http://www.autoblog.com/2008/03/06/f...s-on-march-13/
as of recent, hourly employees got an average $5000 in profit sharing bonuses
http://www.bloomberg.com/news/2011-0...y-workers.html

quote 4, see quote 2 explanation. again mulally deserves every penny for turning ford around.

Conclusion, saying it is luck discredits everything he has accomplished and done (cutting labour costs, selling volvo and aston, getting something back from jaguar and land rover sale etc.). and your misleading title does the same by suggesting that mulally was over payed because some misinformed people feel that way. his accolades (i.e., "XXXXX of the year") and never ending positive news about his and fords accomplishments are a good example of what everyone else thinks, especially the business world.

You are delusional, at least on the ford ceo part in your title.

EDIT: since you like to gauge rfd responses as a on objective indicator of whether mulally deserved his pay, here are the rest of the http://forums.redflagdeals.com/uaw-boss-ford-ceos-pay-morally-wrong-1019342"]responses from the thread. shall i keep going?

IMO, any CEO that can turn around a company deserves it. Not only does it save the company, but think of all the jobs that have been saved directly and indirectly. The main point is that he had a set of objectives, and he met them.

If the CEO received the package and the company was going down, then that would be another story.

+1

didn't take any gov bailout money, climbed the ladder in the rankings
and he started in 2006 right about when car sales started to decrease alot

give him more money!

I don't see a problem with this. He signed a contract two years ago when the Ford stock was at $1.50 a share.

He met his performance goals, so he received the 3.8 million share bonus offered two years ago. It's because of his turnaround of the company that his shares are worth what they are.

I totally agree. He took no bailout money, and there was a possibility his company options were worthless if the company tanked.

He also took $1 salary during the recession, plus options.

He did a great job and deserves it.

Like others mentioned, his foresight enabled Ford to turn around quickly, to become profitable and a market leader. A lot of their cars now are newly redesigned, sleek and stylish.

but u've gotta give them credits when it's due. i really find the ford products improving in the past few years.. imo, ford did a great job positioning themselves in the market. And the same can't be said for Chrysler and GM.

a good CEO is rare. a good factory worker? not so much.

the guy was paid in shares, which at that pont in time was actuall less than $5 million, which is extremely low for a CEO in the *****gary days of this time. The guy then turned the company around through different strategies and made those shares be worth 10 times as much, currently in the 50 mil range.

No one "gave" him 50 mil and all those factory workers could have had a 10x increase in salary if they would accept $1 dollar as a yearly salary and the rest of their pay all in company stock. But they didnt and now theyre bitching while working at jobs they wouldnt have had if the management of the company hadn't done something right.

i have no sympathy for CEOs getting overpayed and running companies into the ground, but i also have no sympathy for people who earn 3 to 4 times as much as other people in the private sector and ***** about low pay.

If anything, the fact that Ford survived while the US and Canadian Governments effectively handicapped them by bailing out GM and Chrysler, tells me that Mualay should get every single penny of his salary.

If anything, the morally corrupt ones are these union slobs who get paid ridiculous amounts of cash for bolting together cars.

As per: http://fullcomment.nationalpost.com/...y-combination/

Well said. I have seen a lot of CEO's in the corporate world, and know for a fact that a good one is rare. It takes someone who has vision and ambition to make a great company. Look at the CEO of Nissan, he was in the same situation several years ago and turned the company around, and Nissan has been doing well since then. Not everyone can do what they do, and they deserve the respect and compensation for meeting or exceeding their goals. It's just too bad that people don't realize this.

but ford employees just got a 5k bonus, how is that not sharing the good results? i dont think the ceo got more bonus past what his contract pay was established at. ford workers wanted and want cash instead of stocks, the ceo wanted stocks and 1 dollar per yr salary, see who else would go for that, not many if more than a handful. Risk/reward is in play.