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Ford CEO's $1 salary

Discussion in 'Members' Lounge' started by 95b16coupe, Dec 2, 2008.

  1. 95b16coupe

    95b16coupe New Member

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    Taking a page from Lee Iacocca, Ford CEO will make a $1 salary. I bet he has about 100million in ford stocks that aren't worth shit though. if he can gain value in the stock, it will be more than any salary could provide.

    Ford says CEO will work for $1 to get loans - Yahoo! News

     
  2. Bob Vila

    Bob Vila ɐןıʌ qoq Admin VIP

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    I'd like the stock to go up more...maybe I could retire.

    lol
     
  3. jeffie7

    jeffie7 Wrong Whole! VIP

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    $1.00 a year is a good idea if they put in the fine writing, NO bonus!
     
  4. eastbxc

    eastbxc Custom User Title

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    $1 a year isnt so bad when the past 25 years you were making millions...and you also have millions in a bank account gaining interest
     
  5. 95b16coupe

    95b16coupe New Member

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    this is where stock options come to play.
     
  6. jeffie7

    jeffie7 Wrong Whole! VIP

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    and at the end of the year you get a 5-10-20-30-50 MILLION dollar bonus.
     
  7. nootrac22

    nootrac22 Well-Known Member VIP

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    sounds like they are looking for a line of credit rather then a loan.
     
  8. jeffie7

    jeffie7 Wrong Whole! VIP

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    Just goes to show I didn't read the whole thing =)

    we'll then, +1 for Ford

    I also have to give props to ford for always having hot girls in the TV ads.
     
  9. BrutalB83

    BrutalB83 Brutal Moderator Moderator VIP

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    So my question is, will he receive his $1 up front, or will he get a paycheck for 4 cents every two weeks?
     
  10. BigJ

    BigJ I'm just about that action Boss. VIP

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    They want to cut millions to borrow billions. Love it.
     
  11. 95b16coupe

    95b16coupe New Member

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    he will get it up front and use it to buy 1/3 a share of ford stock. ^_^
     
  12. SlushboxTeggy

    SlushboxTeggy It's only stupid if it doesn't work VIP

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    PR move. Nothing more, nothing less. You don't work for free unless you don't have to work in the first place.
     
  13. 95b16coupe

    95b16coupe New Member

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    a very smart PR move though. lets see if other companies follow suit.
     
  14. hondasaurus

    hondasaurus Member

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    lol. maybe they'll mail the checks.
    $1, can do $0.01 in legal documents. more money wasting. those ceo's.
    germany gave $55 mil more to VW group about a year ago.
    Lower Saxony buys VW shares to keep 20 pct stake | Reuters
    i dunno, maybe its wrong of me to say what other govts do for their car companies, since our govt was and should be going in a different direction. but could we just have some good govt policy that would be better for all US companies in general.
     
    Last edited: Dec 10, 2008
  15. Briansol

    Briansol Admins Admin VIP

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    his $1 salary fucks the gov't.

    technically, he will be WELL below poverty this year.

    yet, he'll still have $23432432432 in write off's.


    the fed gov't will end up paying him to make $1.
     
  16. Drake

    Drake Well-Known Member VIP

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    Im really not that impressed with their "$1" a year salary. The CEO's at Google did it a few years back. It looks great as a headline but in the end means zero.
     
  17. eastbxc

    eastbxc Custom User Title

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    this is great.......kinda like ole dirty bastard going to the welfare office in a limo after selling tons of his new album i love how these people get away with this
     
  18. totalburnout

    totalburnout Well-Known Member VIP

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    GM already followed suit.
     
  19. hondasaurus

    hondasaurus Member

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  20. BrutalB83

    BrutalB83 Brutal Moderator Moderator VIP

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    I agree that this is just a publicity stunt, but at least Ford seems to be willing to do whatever it takes to survive. Of the big three, they're currently doing the best financially, and as of right now, they're not actually asking for any money, they're just asking for a credit line if it becomes necessary. This is in opposition to Chrysler, which is practically in shambles, and GM, who pretty much said "yeah, we don't have a plan to get out of this, give us the damn money or we're gonna shut down." An attitude like that does absolutely nothing to actually address the problem. They'll get the money, limp along for a few months, and then be right back to rock bottom again...
     
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