FordBuyer Posted October 4, 2007 Share Posted October 4, 2007 The media stated yesterday that Press got a reported $50 million to sign with Chrysler. He won't get all the money at once, but the whole compensation package is supposedly worth $50 million. Not bad. Beats Mulally and he is CEO, not just President. That should piss off the UAW to be sure. I'm not sure how much a 62 year old man can turn around a company. Not a lot of time to do it. I guess it's get things turned around in a hurry and pick a good successor when you retire shortly. Quote Link to comment Share on other sites More sharing options...
Pioneer Posted October 4, 2007 Share Posted October 4, 2007 Another example of how executive pay is way out of line. Quote Link to comment Share on other sites More sharing options...
DCK Posted October 4, 2007 Share Posted October 4, 2007 Another example of how executive pay is way out of line. Go to college make outstanding business desicions and reap the benfits that most people are able to achieve. Yet the UAW does work anyone can do and cries and complains when they are making 2 times the market value of their labor. Quote Link to comment Share on other sites More sharing options...
DCK Posted October 4, 2007 Share Posted October 4, 2007 (edited) . Edited October 4, 2007 by DCK Quote Link to comment Share on other sites More sharing options...
RichardJensen Posted October 4, 2007 Share Posted October 4, 2007 One could argue Press deserves his pay package less than Mulally, seeing that Mulally actually has experience managing the downsizing and restructuring of a unionized industrial company. Press, well, here's Press in a former life: Quote Link to comment Share on other sites More sharing options...
RichardJensen Posted October 4, 2007 Share Posted October 4, 2007 Go to college make outstanding business desicions and reap the benfits that most people are able to achieve. $50M signing bonuses are out of the reach of 'most' people. Including us grajiates uv collij. Quote Link to comment Share on other sites More sharing options...
Pioneer Posted October 4, 2007 Share Posted October 4, 2007 Go to college make outstanding business desicions and reap the benfits that most people are able to achieve. Yet the UAW does work anyone can do and cries and complains when they are making 2 times the market value of their labor. Most people that go to college make $50 million dollar signing bonuses? That is what your cobbled sentences are insinuating. I went to college. I made the outstanding business decision to be involved in an organization that you say gets me double what my fair market value is. Where's my $50 million? Quote Link to comment Share on other sites More sharing options...
jpd80 Posted October 4, 2007 Share Posted October 4, 2007 Maybe the press buzzards will give up on Mulally now there's a fresh carcass to chomp on. Quote Link to comment Share on other sites More sharing options...
ZanatWork Posted October 4, 2007 Share Posted October 4, 2007 Maybe the press buzzards will give up on Mulally now there's a fresh carcass to chomp on. Nah, too many of the whining SOBs post here. Quote Link to comment Share on other sites More sharing options...
LincolnFan Posted October 4, 2007 Share Posted October 4, 2007 (edited) Maybe the press buzzards will give up on Mulally now there's a fresh carcass to chomp on. He used to work for Toyota, you can forget it. They will actually say he deserves every penny. Edited October 4, 2007 by LincolnFan Quote Link to comment Share on other sites More sharing options...
Pioneer Posted October 4, 2007 Share Posted October 4, 2007 Nah, too many of the whining SOBs post here. If you would never come back, we'd have one less. Quote Link to comment Share on other sites More sharing options...
Ralph Greene Posted October 4, 2007 Share Posted October 4, 2007 You would have to know the details of the package to know what has to happen for him to get it. It may take a lot. But it does seem to me you could find competent help cheaper. Howerer....Chrysler is a privately owned company. They can do what they want. Executive pay will be part of their cost structure, and the markets will decide if they are successful or not. Also keep in mind, their goal may not be to build a successful car company, but to dress it up to sell it for a lot more than they bought it for. Take it public again. That's what i would do. Who wants to invest long term in a declining business? Quote Link to comment Share on other sites More sharing options...
ShockFX Posted October 4, 2007 Share Posted October 4, 2007 You would have to know the details of the package to know what has to happen for him to get it. It may take a lot. But it does seem to me you could find competent help cheaper. Howerer....Chrysler is a privately owned company. They can do what they want. Executive pay will be part of their cost structure, and the markets will decide if they are successful or not. Also keep in mind, their goal may not be to build a successful car company, but to dress it up to sell it for a lot more than they bought it for. Take it public again. That's what i would do. Who wants to invest long term in a declining business? Cerberus owners are billionaires, what is $50 million to get Jim Press to turn around Chrysler? Quote Link to comment Share on other sites More sharing options...
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