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re: GM ceo makes 29 million a year
Posted on 9/15/23 at 11:19 am to Tyga Woods
Posted on 9/15/23 at 11:19 am to Tyga Woods
quote:
get canned if shareholders arent happy
And get a golden parachute on the way out
1
Posted on 9/15/23 at 11:24 am to rrboy
quote:
Dodge ceo makes 24 million a year.
For as shite as that company is, there's no way he brings 24 million dollars of value to that company.
Everyone wants to say the average worker is going to be replaced by AI, but I think the CEO would be an easier place to start. Aggregate all of the actionable data points fed up to the CEO level and make high level strategic decisions.
This post was edited on 9/15/23 at 11:24 am
Posted on 9/15/23 at 11:27 am to rrboy
quote:
Dodge ceo makes 24 million a year.
Average uaw worker makes about 67k a year.
That seems about right.
The CEO is easily 500x more important than your average worker.
Posted on 9/15/23 at 11:27 am to rrboy
To think screwing doors and bumpers on to a vehicle doesn't get you a million a year. I'd really be nervous if my job was just doing this with a country south of the border with labor that would be happy making 15k a year doing the same thing. These unions may think they are helping but with global trade a thing now companies now have options.
Posted on 9/15/23 at 11:36 am to rrboy
quote:
GM ceo makes 29 million a year.
The CEO of GM is a woman who started working at GM 43 years ago when she was 18 to pay for her college tuition that includes an MBA from Stanford. The average UAW worker is some guy that belonged to the 420 club and graduated HS with a C average.
Life is about decisions and opportunities. This is the land of opportunity - not the land of entitlement.
Posted on 9/15/23 at 11:39 am to rrboy
Here's the GM CEO's salary breakdown
$2.1 million in salary
$14.6 million in stock awards
$4.9 million in option awards
Nearly $6.3 million in incentive plan compensation
$1.1 million in other payments
In other words, the CEO gets paid largely on company performance, which is a good incentive considering poor performance is how a CEO and likely hundreds if not thousands of other people lose their job.
The guy polishing fenders or checking operational stats of the robots on his computer get paid for their labor.
$2.1 million in salary
$14.6 million in stock awards
$4.9 million in option awards
Nearly $6.3 million in incentive plan compensation
$1.1 million in other payments
In other words, the CEO gets paid largely on company performance, which is a good incentive considering poor performance is how a CEO and likely hundreds if not thousands of other people lose their job.
The guy polishing fenders or checking operational stats of the robots on his computer get paid for their labor.
This post was edited on 9/15/23 at 11:41 am
Posted on 9/15/23 at 11:39 am to rrboy
If he guides GM to make lots of profits , not just quarterly but sets it up for long-term profitability, then that's worth it and I don't see the problem.
The disparity in pay between the CEO and the average worker is meaningless. I do think companies have a tendency to overpay CEOs but because their pay structure involves lots of bonuses for quarterly profits but doesn't take long term planning into account which is way more important imo.
The disparity in pay between the CEO and the average worker is meaningless. I do think companies have a tendency to overpay CEOs but because their pay structure involves lots of bonuses for quarterly profits but doesn't take long term planning into account which is way more important imo.
Posted on 9/15/23 at 11:43 am to Lsupimp
quote:
This is not a value statement but rather a statement of fact; Huge income inequality destabilizes societies.
No, a stark line stopping upward class mobility is what destabilizes societies. Income inequality without that barrier is just envy.
Posted on 9/15/23 at 11:44 am to rrboy
CEO salaries have absolutely ballooned to insanely high levels. I know there is stress, I know they make multi billion dollar decisions, but their compensation ratio to the median compensation of their companies has skyrocketed.
I’m very far from a communist or socialist, but I can agree that CEO salaries seem exorbitant
I’m very far from a communist or socialist, but I can agree that CEO salaries seem exorbitant
Posted on 9/15/23 at 11:45 am to rrboy
OP starts a shite thread, makes a vague pointless statement with no context added, then dips out.
Posted on 9/15/23 at 11:48 am to rrboy
U a socialist or somethin?
Posted on 9/15/23 at 11:48 am to rrboy
I'm more worried about politicians raking in millions on a $250k salary.
Posted on 9/15/23 at 11:48 am to Adajax
I don’t even care that it’s that high.
It isn’t supposed to be a career.
It isn’t supposed to be a career.
Posted on 9/15/23 at 11:49 am to rrboy
According to google GM employs 167,000 people globally. If you divide $29 million by 167,000 its $174.
So, what should we do op? Lets compensate the CEO $1 million and get a really shitty CEO and pay everyone else the remaining $28 million which is a whopping $167 each, literally.
The problem with libs and ignorance to financials of large corps is that they really have absolutely no clue how any of this works.
So, what should we do op? Lets compensate the CEO $1 million and get a really shitty CEO and pay everyone else the remaining $28 million which is a whopping $167 each, literally.
The problem with libs and ignorance to financials of large corps is that they really have absolutely no clue how any of this works.
This post was edited on 9/15/23 at 11:50 am
Posted on 9/15/23 at 11:49 am to LSU82BILL
quote:
The CEO of GM is a woman who started working at GM 43 years ago when she was 18 to pay for her college tuition
Is t she the one who when asked at an electric car promotion where the electricity came from to charge the car batteries she said, with a straight face, “the building”?
Posted on 9/15/23 at 11:53 am to 777Tiger
quote:You will lose this member-measuring contest, friend.
I’m pretty good at that myself, sounds like you should put aspiring life long worker bee on yours
Posted on 9/15/23 at 11:54 am to rrboy
If the ceo gave up his entire salary plus 10 million, each employee gets an additional 200 bucks a year.
They are asking for about 20 times that
They are asking for about 20 times that
Posted on 9/15/23 at 11:54 am to Lsupimp
quote:
It’s true. It does destabilize societies. That’s not an endorsement of anything in particular. I’m all about shareholders compensating top talent as they choose. I oppose any effort to curb it on anything other than a voluntary basis. I’m just saying it destabilizes society to have gigantic financial swings across society. It creates an untouchable elite class and it feeds the rage of Leftist losers.
Very well stated
Posted on 9/15/23 at 11:56 am to WavinWilly
quote:
Everyone wants to say the average worker is going to be replaced by AI, but I think the CEO would be an easier place to start. Aggregate all of the actionable data points fed up to the CEO level and make high level strategic decisio
It’s possible. CEO’s are actually quite fungible
Posted on 9/15/23 at 11:59 am to rrboy
so the average GM employee makes about 1000 per month more than the average American? You are also in the top 5% of all income earners globally.
Maybe you should stop bitching and be grateful.
You dont like the bloated salary of the CEO, but you are happy to use it to support your argument that the workers (already high) pay should be even higher.
Maybe you should stop bitching and be grateful.
You dont like the bloated salary of the CEO, but you are happy to use it to support your argument that the workers (already high) pay should be even higher.
This post was edited on 9/15/23 at 12:04 pm
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