• This is a political forum that is non-biased/non-partisan and treats every person's position on topics equally. This debate forum is not aligned to any political party. In today's politics, many ideas are split between and even within all the political parties. Often we find ourselves agreeing on one platform but some topics break our mold. We are here to discuss them in a civil political debate. If this is your first visit to our political forums, be sure to check out the RULES. Registering for debate politics is necessary before posting. Register today to participate - it's free!

GM proposes to pay CEO $11.1 million in '13

American

American

Trump Grump Whisperer
DP Veteran
Monthly Donator
Joined
Mar 11, 2006
Messages
96,099
Reaction score
33,416
Location
SE Virginia
Gender
Male
Political Leaning
Conservative
GM proposes to pay CEO $11.1 million in '13 | The Detroit News | detroitnews.com

Washington — General Motors Co. wants to pay its chief executive $11.1 million in total compensation this year — an increase of more than 20 percent over 2012 - and offer raises to most of its highest paid executives, according to a document turned over to Congress.

The Detroit automaker, which received a $49.5 billion bailout in 2008 and 2009, must get approval for the pay packages for its top 25 executives from the Treasury Department, as a condition of its government bailout.

According to a copy of the proposal obtained by The Detroit News from a source familiar with the documents, GM is proposing raises for 18 of its top 25 executives for 2013, with each of those making at least $1.8 million.

CEO Dan Akerson didn't get a raise last year, but received a $9 million pay package, including a $1.7 million cash salary. He makes far less than the CEOs of Ford Motor Co., Chrysler Group LLC and Volkswagen AG, all of whom earned more than $20 million last year. In a 2011 interview, Akerson confirmed he gave up "more than" $100 million in 2010 to run GM when he left Carlyle Group.
Click to expand...
Thoughts? With possible losses of bailout payback, should GM CEO get this big raise.
 
A friend of mine is Ford management. He was telling me GM is busting a gut trying to pay off the US, so management can give themselves megabonuses. I think management is as big a problem as any in US buisness today.
 
imo, some pay levels are out of wack and its not just what some CEO's make. In this GM making 11 mill seems to be in line or less than other CEO's of other large companies.

That said, I never understood why a actor gets millions for a movie, or an athete gets paid millions to play a game. People get what they can get.
 
The CEO should get paid whatever the company decides to pay him.

The American people also shouldn't have to bail them out when their ridiculous monetary practices fail them.
 
Not only shouldn't the CEO be making that kind of money until their debt to our citizens is paid off, the workers shouldn't be getting the $7000 bonuses they're getting either. Ridiculous!
 
JC Callender said:
Not only shouldn't the CEO be making that kind of money until their debt to our citizens is paid off, the workers shouldn't be getting the $7000 bonuses they're getting either. Ridiculous!
Click to expand...

How much should they get?
 
The workers should get no bonus and the CEO shouldn't make over $100,000 until the debt is paid off. GM should guarantee the CEO a huge bonus once the debt is paid off, the sooner it's paid off, the bigger the bonus.

Lord Tammerlain said:
How much should they get?
Click to expand...
 
JC Callender said:
The workers should get no bonus and the CEO shouldn't make over $100,000 until the debt is paid off. GM should guarantee the CEO a huge bonus once the debt is paid off, the sooner it's paid off, the bigger the bonus.
Click to expand...

You would not find a qualified CEO to run the company for $100 000

You would get some low level manager, whose skill and knowledge level would be more appropriate for managing a GM dealership rather then GM itself. Which would most likely mean GM's debt would never be paid off
 
You wouldn't take the challenge of paying off the debt for $100,000 a year and a 30 million dollar bonus upon completion?

I'm out for tonight, so if you respond then I'll reply tomorrow. Have a good night!


Lord Tammerlain said:
You would not find a qualified CEO to run the company for $100 000

You would get some low level manager, whose skill and knowledge level would be more appropriate for managing a GM dealership rather then GM itself. Which would most likely mean GM's debt would never be paid off
Click to expand...
 
JC Callender said:
You wouldn't take the challenge of paying off the debt for $100,000 a year and a 30 million dollar bonus upon completion?

I'm out for tonight, so if you respond then I'll reply tomorrow. Have a good night!
Click to expand...



A hundred grand a year and a potential of 30 million in a few years

or 9 million a year and a most likely 30 million plus over 3 years, and i would take the 9 million each year


The potential payout would have to be more then 30 million and more like 100 million and paid out in at most 5 years from the present if I was only going to make 100 000 a year (remember he probably has expenses of $250 000 a year )
 
Lord Tammerlain said:
A hundred grand a year and a potential of 30 million in a few years

or 9 million a year and a most likely 30 million plus over 3 years, and i would take the 9 million each year


The potential payout would have to be more then 30 million and more like 100 million and paid out in at most 5 years from the present if I was only going to make 100 000 a year (remember he probably has expenses of $250 000 a year )
Click to expand...

Well, then maybe you wouldn't be the right guy for the job....If I were a share holder, I think I'd want someone who wants to put the company first, and bring GM back, before thinking of what he is going to get out of the deal....
 
j-mac said:
Well, then maybe you wouldn't be the right guy for the job....If I were a share holder, I think I'd want someone who wants to put the company first, and bring GM back, before thinking of what he is going to get out of the deal....
Click to expand...

As a shareholder I would want that as well, too maximized my returns

As an employee I would want to maximize my salary and bonus's to get me the highest possible returns. Very few people work for free, and at that level you are not going to get someone qualified to work as CEO when nearly 30% of the other management employees are making more per year then the CEO
 
Oh man...

I get the whole "needing permission" thing, given the bailout...but I seriously don't like it. On the other hand, I also don't like that we're likely to lose money over all on the GM deal, while they expand pay for....well, ANYBODY. I think that money should go towards cutting down the difference to mitigate the loss to the tax payer before it should go into anybody else's pockets.

Once we've been paid back in full, w/no loss, GM can do whatever they hell they want with anybody's pay as far as I care.
 
Lord Tammerlain said:
As a shareholder I would want that as well, too maximized my returns

As an employee I would want to maximize my salary and bonus's to get me the highest possible returns. Very few people work for free, and at that level you are not going to get someone qualified to work as CEO when nearly 30% of the other management employees are making more per year then the CEO
Click to expand...

Errr Lee Iacocca did it for one dollar.
 
Lord Tammerlain said:
You would not find a qualified CEO to run the company for $100 000

You would get some low level manager, whose skill and knowledge level would be more appropriate for managing a GM dealership rather then GM itself.
Click to expand...

Someone like Barrack Obama perhaps?
 
Lord Tammerlain said:
As a shareholder I would want that as well, too maximized my returns

As an employee I would want to maximize my salary and bonus's to get me the highest possible returns. Very few people work for free, and at that level you are not going to get someone qualified to work as CEO when nearly 30% of the other management employees are making more per year then the CEO
Click to expand...


I don't disagree. I am saying that a qualified CEO could make a token gesture, however in the end it is all about how he runs the company. If this CEO is taking the company to a healthy place in terms of long term competitiveness and increasing profits for share holders, then he deserves what the board will give him in terms of compensation.
 
danarhea said:
It's up to GM. If people don't like it, they can always buy a Ford instead.
Click to expand...

The American public were forced to invest in the Voltswagen whether they wanted to or not.

This crony capitalism, such as happened with Freddy Mac, Fanny, and many on Wall Street, has set precedents for Government to now get involved in the means of production with taxpayer money. Expect many billions of dollars more from government passing into private hands in the years to come. If the people defend it and expect it then it will surely continue.
 
Republic Now! said:
The CEO should get paid whatever the company decides to pay him.

The American people also shouldn't have to bail them out when their ridiculous monetary practices fail them.
Click to expand...

Absolutely.
 
You must log in or register to reply here.
Back
Top Bottom