Executive Salaries

[Axegrinder]

http://www.freep.com/apps/pbcs.dll/article?AID=/20060211/BUSINESS01/602110370/1014/BUSINESS

Delphi Corp. can give its executives as much as $38 million in bonuses to keep them from leaving at the same time the auto supplier wants to cut the jobs of 24,000 hourly workers and pay remaining workers less than half their wages.

http://www.freep.com/apps/pbcs.dll/article?AID=/20060211/BUSINESS01/602110363/1014/BUSINESS

Executives at Visteon Corp., the nation's second-largest auto-parts supplier, recorded handsome raises even as the company announced year-end losses Friday.
In filings with the Securities and Exchange Commission Friday, Visteon reported fourth quarter and year-end earnings and details about increased compensation for executives.


Visteon's directors agreed to increase bonuses to executives that range between 50% and 130% of their base salary. In addition they approved larger long-term incentive awards that range between 120% to 475% of their base salaries.

*****
This is why I hate Corporate America.

[RedskinsDave]

This is why I hate Corporate America.

You only look for the bad ones though. Read this book:

http://www.leadershipnow.com/leadershop/0976268604-A.html

Leaders must also put a high priority on accountability. When the Shady Point problem occurred in 1992, Bakke took a 30 percent reduction in his own pay that year as the most senior person responsible for adherence to AES values. Other corporate officers and leaders in the plant also took pay reductions ranging from 10 to 20 percent. Taking responsibility must become a habit in order for each worker to trust in the organization and partake in the joy and accomplishment that the workplace offers.

He also took no salary in his final years running the company.

[dukeuch]

You only look for the bad ones though. Read this book:

http://www.leadershipnow.com/leadershop/0976268604-A.html



He also took no salary in his final years running the company.

Wow, a whole thirty percent cut? What did his salary end up being after that cut? Were there any mass layoffs at this place? Were those who were laid off given the chance to continue working for a 10, 20, or thirty percent cut?

Seriously though, what this guy did is probalby the exception to the rule.

[Spence]

Very laudable of Bakke. Good man. Pity he's the exception and not the rule.

[RedskinsDave]

Wow, a whole thirty percent cut? What did his salary end up being after that cut? Were there any mass layoffs at this place? Were those who were laid off given the chance to continue working for a 10, 20, or thirty percent cut?

Seriously though, what this guy did is probalby the exception to the rule.

Actually no. Do your homework before you make comments like that. I'd advise that you read the book too. It's a good example of how to run a business and also how to do so without being hampered by union b.s. while having exceptional morale in the workplace.

[Ibleedburgundy]

I can't relate to these guys who pay themselves $20 million a year while they cut jobs. Michael Eisner comes to mind. There is no way he was worth what they were paying him.

RedskinsDave, I'm going to read that book.

[dukeuch]

Actually no. Do your homework before you make comments like that. I'd advise that you read the book too. It's a good example of how to run a business and also how to do so without being hampered by union b.s. while having exceptional morale in the workplace.

OK, I'll accept that this is a good guy, with good intentions. Even with his 30% cut, however, he was a billionaire until AES stock tanked a few years ago. You are absolutely correct, however, when you point ot him as a leader in how corporate executives should run their companies.

Not too happy that he owns a string of charter schools, however.

[dukeuch]

The best was Lee Iococca, who after ten years of "voluntary" import quotos on Japanese automakers, lead Chrysler all the way to $800 million in losses his final year. For that, he was rewarded with tens of millions when he stepped down, and got to accompany Bush I on a mission to Japan to lecture them on how to run a business.

[RedskinsDave]

OK, I'll accept that this is a good guy, with good intentions. Even with his 30% cut, however, he was a billionaire until AES stock tanked a few years ago. You are absolutely correct, however, when you point ot him as a leader in how corporate executives should run their companies.

Not too happy that he owns a string of charter schools, however.

Well he built the company from the ground up and in the end paid himself nothing.

What's wrong with his schools? It's all his own money and I assure you he has no intention of making money at the expense of any student. His venture started off as a not-for-profit but I think he was losing too much money.

[dukeuch]

Well he built the company from the ground up and in the end paid himself nothing.

What's wrong with his schools? It's all his own money and I assure you he has no intention of making money at the expense of any student. His venture started off as a not-for-profit but I think he was losing too much money.

I don't know much about his schools, I am just against the policy of charter schools in general, preferring trying to make public school better instead. Nothing wrong with the guy trying to make some bucks, even if I don't agree with the business itself.

[Axegrinder]

Actually no. Do your homework before you make comments like that. I'd advise that you read the book too. It's a good example of how to run a business and also how to do so without being hampered by union b.s. while having exceptional morale in the workplace.
Union b.s.?
They provide what little health and safety there is in the workplace.
I'm sure that companies would go above and beyond to protect it's workers w/o unions.:rolleyes:

[akhhorus]

If the company is doing well, the executives should be rewarded. If the company is struggling, they should do what a lot of company's executives are doing, slashing their salaries. This is capitalistic system, if you don't reward upper management for success, then there's no reason to bust your butt to build and maintain a company.

[RedskinsDave]

Union b.s.?
They provide what little health and safety there is in the workplace.
I'm sure that companies would go above and beyond to protect it's workers w/o unions.:rolleyes:

Yeah, you can read the book too. I won't bother getting into it with you over unions because you're hooked on the kool-aid. Let me know what they do for you once the shop closes down though.

[akhhorus]

Union b.s.?
They provide what little health and safety there is in the workplace.
I'm sure that companies would go above and beyond to protect it's workers w/o unions.:rolleyes:

When unions were actually fighting for their workers, you have a point; but they are super corrupt now and don't really care about the rank and file and won't fight management for them anymore. Look at what's happening in West Virginia with the coal miners, their unions are supposed to be fighting for things like better conditions and better safety equipment, but they have neglected to do that for years because they don't care.

[Axegrinder]

Yeah, you can read the book too. I won't bother getting into it with you over unions because you're hooked on the kool-aid. Let me know what they do for you once the shop closes down though.
Why don't you watch the coalminers families testifying about the inaction that led to the latest mine disasters.

As for the kool-aid,why are you for protecting our country from terrorism,but not for protecting the U.S worker?

I appreciate your concern regarding my livelihood and I'll definitely keep you updated.

[Axegrinder]

When unions were actually fighting for their workers, you have a point; but they are super corrupt now and don't really care about the rank and file and won't fight management for them anymore. Look at what's happening in West Virginia with the coal miners, their unions are supposed to be fighting for things like better conditions and better safety equipment, but they have neglected to do that for years because they don't care.
All laws for health and safety that were inacted during the Clinton years were left to expire at the hands of the Bush Administration.

[akhhorus]

All laws for health and safety that were inacted during the Clinton years were left to expire at the hands of the Bush Administration.

And if the Unions had a problem, they can go on strike and effect a change through non-compliance. Don't try to blame Bush for the corruption and inertia of the Unions. Shutting down the Coal industry even for two days would draw a lot of attention since a big chunk of power plants are or will be clean coal plants in the near future.

[RedskinsDave]

Why don't you watch the coalminers families testifying about the inaction that led to the latest mine disasters.

As for the kool-aid,why are you for protecting our country from terrorism,but not for protecting the U.S worker?

I appreciate your concern regarding my livelihood and I'll definitely keep you updated.

Who said I don't want the American worker protected? I just think they're not being represented and for the most part all unions do is make money for the bosses and then blame the company when they fail their members. The year is 2006, unions lost their value many many years ago. Now all they really do is cost the american consumer more and cost the american workers jobs lost to foreigners. Of course that is blamed on someone else too. I wonder why all those right-to-work areas aren't having their shops closed.

[Axegrinder]

Who said I don't want the American worker protected? I just think they're not being represented and for the most part all unions do is make money for the bosses and then blame the company when they fail their members. The year is 2006, unions lost their value many many years ago. Now all they really do is cost the american consumer more and cost the american workers jobs lost to foreigners. Of course that is blamed on someone else too. I wonder why all those right-to-work areas aren't having their shops closed.
Have you ever belonged to a union?

[RedskinsDave]

Have you ever belonged to a union?

No, thank God.

[OCSkinzFan]

And if the Unions had a problem, they can go on strike and effect a change through non-compliance. Don't try to blame Bush for the corruption and inertia of the Unions. Shutting down the Coal industry even for two days would draw a lot of attention since a big chunk of power plants are or will be clean coal plants in the near future.
SOME unions can strike; some, like mine, can't. Laws are made to give the government all control in negotiations.

[BurgundyNGold]

Have you ever belonged to a union?
I have. UFCW Local 400. It didn't work out well. Well, for me, that is.

[Axegrinder]

No, thank God.
Then how do you know what they do?

[RedskinsDave]

Then how do you know what they do?

Really, did you just ask that? Have you ever built a plane? Well then how do you know they can fly?

I can read, that's how. I was also married to a union member turned manager but I knew long before that that unions weren't my cup of tea.

[RedskinsDave]

So have you ever been a corporate executive? Have you ever been a staffer on the Hill?