Here’s quite a statement from a recent MSNBC news item:
Also, Henderson said that unlike Wagoner, he will not work for $1 a year. He is paid $1.3 million, which was cut 30 percent as part of what he called shared sacrifices at the auto maker.
Henderson is the new CEO of General Motors.
1.3 million bucks a year is a “sacrifice”? Yeah, that’s some sacrifice, pal. Sheesh.
What a load of garbage. Yes, he’s got a nearly impossible job- come in and run this auto company that’s already received billions of dollars from the government, nobody’s buying their cars, their business processes are all screwed up, and they’re a political football.
But the guy is making over a million bucks a year and calls it a SACRIFICE!? Give me a break.
I’d be way more impressed if he came in and said “I’m going to take a salary of $250K, and nobody in the company is going to make more than that.” THAT would be a sacrifice.
Even on that salary, the head honchos could send their kids to private schools and live in $750K houses and drive the fanciest cars (GM only, please) and take vacations and everything else. But no, that’s not enough for them; they’ve got to make a million bucks a year.
No wonder these guys are doing such a lousy job.
The reality is that the car companies need to BUILD BETTER CARS. They need to quit putting all their eggs into one basket (like trucks and big SUVs) because sooner or later, the market is going to change and people are going to want different cars. They need to rein in their dealers and change the way cars are priced and sold.
But mostly… they need to build better cars.
I bought a Ford last year, an Escape Hybrid. It’s a great little SUV. It’s as good as the others in the class, and with the hybrid engine it’s a great deal. That’s why I bought it. The fact that it’s an American-built, union-built car is awesome too, but let’s face it- even a union believer like me is likely to buy a non-union car if it’s better built with comparable pricing (or even a bit more) to a different car.
Let’s see some real sacrifice by these CEOs, and let’s get them making better cars. Then we’ll see the companies get healthy.