Chrysler Owner Won't Disclose Total Pay for '$1 CEO'

Chrysler Owner Won't Disclose Total Pay for '$1 CEO'

abcnews.go.com

Nardelli could be earning considerably more than just this minimal salary: It is unknown if Chrysler's majority owner, private equity firm Cerberus Capital Management, pays Nardelli an additional salary or any other form of compensation for running the struggling automaker

(visit the link for the full news article)

Well, well, what a shocker. I guess it won't be a big surprise to many, that the $1 pay may not really be that, and could just be some smoke and mirrors.

With them not disclosing, I think it's fair to assume it's not real. According to the article GM have been more open though, which is at least some good news.

By comparison, GM, a publicly traded company unlike private Chrysler, has revealed that its CEO Rick Wagoner will earn $1 for 2009 and will receive no bonus for both last year and this year. In addition, GM's board of directors has also reduced its own compensation to $1 for 2009.

I'm not a supporter of wage caps as such, but I do certainly think that these people should not be getting big bonuses if their company is failing under them.

abcnews.go.com
(visit the link for the full news article)

Originally posted by RubberBaron

Chrysler Owner Won't Disclose Total Pay for '$1 CEO'

abcnews.go.com

Nardelli could be earning considerably more than just this minimal salary: It is unknown if Chrysler's majority owner, private equity firm Cerberus Capital Management, pays Nardelli an additional salary or any other form of compensation for running the struggling automaker

(visit the link for the full news article)

Cerberus Capital Management. How much more sinister could you possibly sound? In terms of capping CEO pay, I don't think it really effects them. So, let's assume four years of being the ceo. $Absurd + $Absurd + $1 + $1 still = $Absurd.

I was talking to one of the cleaning ladies on the job the other day and the following conversation occurred;
Me: How's business for you guys?
Her: Slow, let 2 more girls go last week.
Me: Yeah, we've been letting people go every other week, nobody's safe anymore. And to top it off, did you see where these bank people are getting million dollar bonuses? For leading their bank into our demise?
Hell, we aren't asking the feds for squat and I didn't get my last three bonuses. How does that happen?
Her: No comment, I was one of those getting a bonus when things were shaky.
My point is these dirtball politicians and bankers and unions and lawyers are sucking the life out of this country.
Tea, anyone?

The thing I find that doesn`t make sense is, why put a cap on them, these clowns already have millions in the bank from past years of running their companies into the ground, yea, like putting a cap on them is really going to hurt them now. Sure, it`s bailout money now that we don`t want the CEO`s to have, but, what about all the years we paid over inflated car prices and these clowns took home millions from us? In the end, all the money they have came from the tax payer.

I say, to get the price of cars down and to make sure those idiots running the companies take home smaller pay checks, is to let them fail. let them file bankruptsy, restructure, and start over. This way, we aren`t paying for it with tax money.



[edit on 17-2-2009 by FiatLux]

The corruption in this country is just everywhere - Government, media, business. Jury nullification is the way to stop it. When activists attack or even kill the bastards, juries need to acquit the accused, even if they think them guilty.

I can't think of a better way of scaring our "leaders".

I don't understand all this hatred toward the banks or corporations. Members of Congress are the ones who gave them the bailout money. They simply accepted it.

People actually took that 1 dollar pay thing serously????

No way!!! Cmon..people are NOT that gullable....are they????



Cheers!!!!

Originally posted by Make Speed Limit 45
The corruption in this country is just everywhere - Government, media, business. Jury nullification is the way to stop it. When activists attack or even kill the bastards, juries need to acquit the accused, even if they think them guilty.

I can't think of a better way of scaring our "leaders".

I think that's pretty crazy to be honest. I do believe in Jury Nullification, and when I served on a jury in the UK I was informed I have that right.

But I wouldn't use it to aquit someone clearly guilty of murder.

I think Nullification should be used on laws you think are wrong, and murder is not one of those for me, and I hope many other people.

Perhaps a better idea, would be for people to withhold taxes, and try and get nullification because the money would just be going to waste. I think this would send a clear message without the need for violence.

Originally posted by stevegmu
I don't understand all this hatred toward the banks or corporations. Members of Congress are the ones who gave them the bailout money. They simply accepted it.

That's a reasonable point, but if the banks then put on a dog and pony show to pretend that they are spending the money wisely, we should look into that.

Things like the $1 pledges help calm the public and assure them that people are trying to do the right thing. If it turns out to be a lie however, the public should be angry at them.