Wagoner, GM's CEO, used to have 2.2 million base salary, 2.8 million bonus pay and in addition was 3.3 million which reflects sales figures through his share of stocks he owns in the company.
GM Executive compensation was cut. The CEO still gets the 2.2 mill base salary but there are no more bonuses and since GM stocks are in the toilet he's not making any extra there.
“I own a huge number of shares of the company and have experienced the downside with our investors,” Wagoner said. “That’s the way it should be.”
Gee... only 2.2 million a year? How will he ever survive?
[ July 27, 2006, 12:02 PM: Message edited by: Mike Pipes ]
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Mike Pipes stickerpimp.com Lake Havasu, AZ mike@stickerpimp.com Posts: 8746 | From: Lake Havasu, AZ USA | Registered: Jun 2000
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I have always thought I run my buisness better than large corps. I have always wondered why the state is run so poorly. I dont understand the budget thing states have...where they spend 1 million this year and have to spean the same ammount next year so they can get 1.5 million. i don get it
what idiot sat down and came up with that. large corp paying these guys money that would choke the trump absolutely stupid. I can t explain it and it confuses me and infuriates me as the company gets larger so does the wastefulness
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bruce, ever study Buckminster Fuller? He was a genius way ahead of his time.
One of his views on life was trying to figure out how to do more while using less. He developed this theory where everything around us will continually expand, getting larger and more complicated until some breaking point, at which time everything will then collapse forcing it to simplify then start over. It will run the same cycle over and over again.
Sound familiar? Relating it to the auto industry, cars in the US kept getting bigger and bigger then there was the fuel shortage in the 70's. Suddenly small Japanese cars took hold of the market because there was now a need for more fuel efficient vehicles.
Forward to today, we have the same thing happening again. Vehicles, namely SUV's and trucks, keep getting bigger and bigger, gas prices went up and now there's a small car revolution on the horizon again - look at all the new tiny car models out now.
Now we can see the theory panning out in the corporate world. All these huge corporations getting bigger and bigger, bloated, slow moving, Executive salaries completely out of hand, health insurance for employees that have been retired for 20 years???? Prices to consumers on the rise then suddenly they're laying off employees left and right, slashing salaries, etc trying to stay afloat - and they could have avoided it all by being a little more proactive and realistic in the first place.
This theory applies to every facet of life.
-------------------- "If I share all my wisdom I won't have any left for myself."
Mike Pipes stickerpimp.com Lake Havasu, AZ mike@stickerpimp.com Posts: 8746 | From: Lake Havasu, AZ USA | Registered: Jun 2000
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