Only in America…profits down, but execs salaries up = no problem!

F451—that’s because you’re not looking at the whole picture. Read the article again and see what he DID do:
“Since then, he has managed to save GM $9 billion, negotiate a money-saving deal with the UAW, and oversee a product revival. If YOU had done that, wouldn’t you expect at least a return to your former salary? Paying a guy another $1.5-2 million to save you all that money seems like a pretty good deal to me.

How noble, Rick and Bill Ford taking voluntary pay cuts…they’re both only multi-millionaires. My heroes:rollseyes:

I agree snork they were rich long before they took the paycuts so it’s not like they are hurting, but as Scott has pointed out he still did accomplish good goals so there is something to be said about the man regardless of his wealth.

Thank god Wagoner is back on his full salary. I’ve been unable to sleep at nights, worrying about his finances….

@Scott Kempton, I subscribe to Peter Drucker’s theories so no I do not condone Wangoner’s behavior. Cutting is easy—building is an entirely different matter as I do not see the product revival yet.

maybe the guy has bills to pay, christ, 2.2 million isnt always that much money these days, especially when youre lifestyle has to make cuts. GMs been on the up and up.

So if GM sells 4.5 million vehicles in the USA, this guy gets 50 cents out of every vehicle. Next time I buy a GM I’m going to hold out for an extra 50 cent reduction.

For gawd’s sake, they pay toothless goons in the NHL more money than that. Still, read the last paragraph of the article. I’m willing to bet all those incentives easily outdistance his salary.

Why the bleeding f*ck does *the management* want to raise their damned salaries?!? They’ve volunteered to cut their pay, let it stay that way, dorks!

@johnnycanuck, it is the perks you reference that makes execs pay so lucrative. So much goes on that the general public never learns about, and is cleverly recorded differently, through financial handlers.

F451—you don’t see the product revival yet? Do you not see the new Malibu, CTS, Corvette and Silverado as “revived” product? If not, what would GM have to do to impress you?

And no, cutting money is NOT easy—if you have to maintain a viable company while you’re doing it. Remember—all CEOs are hired by the Board of Directors of whatever company they’re in charge of, and their job is to make money for the company. Saving $9 billion is every bit as legitimate a gain as selling more cars.

This is not an unusual salary for this level of management in automotive, chemical, oil, finance industries. Only in a capitalist society can someone reach these hights of monitary compensation. You should be so lucky you live in a country where this is OK…go to communist China or N. Korea and see what aspirations you can reach. Quit bitching and go to work.

My guess is if they don’t increase his salary, he’s due even more down the road…

@Scott Kempton, sorry, no revival of sorts (One vehicle that it an actual legacy vehicle: Corvette Well, two: Silverado). I’ve owned a first-generation CTS a weekend vehicle, and I liked it, but the now Cadillac is over dependent on it for the Cadillac lineup. I owned a 1966 Chevelle Malibu, and that was a Malibu, the current one is an attempt at contrived legacy. Since I have experience at downsizing at an executive level, I can tell you that it is hard—if you have a conscience—as you quickly assess that matters typically should not have arrived at the current state of affairs in the first place, and that proper leadership would have avoided most of the present state. And if you have a conscience you also realize that you are impacting employees lives; employees who have families, financial commitments, and if they are male—they piss in the same urinals as you do. An intelligent person respects that they are no better than others are regardless of social/economic status. Peter Drucker was so right when it came to business…no wonder he chose his later direction in life the way he did. I will give that Wagoner keeps a low profile, and I respect that, on the other hand I would fire Lutz in a heartbeat.

F451: I have to totally disagree with you about the ‘08 Malibu being “an attempt at contrived legacy”. The current Malibu is absolutely NOTHING like your ‘66 was (except in the role it fills in the automotive universe), and it’s a good thing; by today’s standards, ANY car from 1966 is pretty poor transportation. But the new Malibu is extremely competitive in its segment, and my opinion, its styling trumps all other’s.

And as for continuing to use the Malibu name 42 years later, that’s called “brand recognition”. Can you imagine Honda dropping the Accord name, or Toyota dropping the Camry name? I think Chevy is doing exactly the right thing by continuing to use “legacy” names. And I think Ford shoots itself in the foot every time they change a name; the whole Taurus deal was a real fiasco.

Scott, I have a difference of opinion with you, actually I am pretty much in-line what F451 stated. As far as ‘08 Malibu being a success story – it is a shallow story. Under the bow tie there is a definite Opel underpinning, just like Saturn. The only reason Opel can produce decent cars because distance from headquarters saves Opel from insane corporate atmosphere.
Chevy of ‘66 is far cry from todays cars but so does MB or BMW compare to their stable mates. As a matter of fact BMW was saved in early ’60s from takeover by Benz by producing Italian 3 wheel car. Long and successful road to Rolls Royce.
On another hand, executives at BMW don’t make even 50% or 30% of what Wagoner and Lutz are pocketing and BMW’s share of the pie is not getting smaller and company is not shrinking, at least not in Germany and US ( 2 most profitable markets). I don’t think anyone at Toyota, Honda or even Nissan-Renault makes that kind of money. As long as Wagoner been at the wheel he did not increased market share, brought profits or achieved anything remote to success. His biggest mistake is Lutz. No one can even explain what this elder does including himself.

Kempton Ford is fixing its naming mistakes. So zip it! And with a little Luck and great engineering the 2009/2010 Ford Taurus will dominate the mid-sized car segment the way it did for the last 20+ years!

The 2008 Malibu takes alot of Styling Cues that are found in the Accord/Taurus/Camry-esk like and tries to pass them off as original Chevy design mentality?! I think NOT. Anyone can see there stolen ideas. Take your pick. Chevy usually slaps something together with a Brick Faced Front-end to give its image of being tough.

Unfortunately that look has been out for at least 2 and a half decades maybe more. ANd now GM realizes Ford and the imports have been on to something. Its called Aerodynamics and it cheats drag and raises fuel economy.
I still feel the looks and fit and finish of the Malibu is strictly secondary to the Accord and Camry.

So I strongly disagree with you that its 100% originality and or following its DNA from The 1966 Chevy Malibu. Its definitely not on the same car from the original Fold.

Go Ford Go Electric!

oh yeah about exec pay. Yes their all overpaid. I don’t feel sorry in the least for most of them and I don’t lose sleep over it either. Bill Ford has done the right thing until the company is profitable once again. But I think the guy who is totally unworthy of his salary and should be fired is that BS artist Mark Fields.

Ditto on that Deanster. Someone at work has the New Honda Accord its totally refined inside and out. The Camry is awesome too. I am hoping Ford does a Superb job on the Taurus when it debuts again in 2010 hopefully true to the original Concept of the car it was back in 1985 when Futuristic and Best-in-Class with everything technologically speaking.

We’re talking like GM is a startup company with breakthrough designs. Theyve been making cars for over a 100 years!
Shouldnt be that hard.
They managed to have three or so “revived” cars…so what?
Sounds like making a decent looking car is high accomplishment for GM.
Mr. Lutz, oops Wagoner, managed to nail a few nails on a sinking ship..big whoppy do!

Executive pay is out of this world- especially in America. Remember Nardelli from Home Depot? He got a $210 million severance package. Ouch…

Wagoner is worth every penny he earns. Both he and Lutz are martyrs and will go down in history as the greateast leaders of all time!

With the eminent demise of Toyota, Chrysler, VW and probably Ford, along with countless other rat turd brands that aren’t even worth mentioning,Rick and Bob have assembled the greatest automotive onslaught ever in the history of the Automobile! The American Revolution is taking names and destroying the competition.

If anyone wishes to argue this, you are a clueless, unAmerican tool who needs to move to Japan. You don’t belong here, this is GM country!

Woohoo go GM!

The new Accord looks like a Saturn l200, only fatter and uglier. The new Camry certainly has styling that really makes sure you know it is Japanese. How is the Malibu copying any of them? It’s a 4 door seden, it looks nothing like these cars, they all have there own designs and really, how much could you actually do with the design of a under 25k 4 door family sedan?
The Fusion, though not a huge Ford fan , is the better looking of all of them, the Malibu a close second.

Yes agreed, just changed his name. Now what’s with the penis name on a male dominated website? Did you used to be known as triplefive1115? Just curious?

No this is Ford Motor Country

howsmydriving: funny ****.

GMis doing OK.
Heart64: the Malibu is Marginally better than the new accord (though it’s not really an heir to Malibu name).

Hoosier: nardelli can SAFC

nobody says you have to buy a vehicle!!!