Labels
Economy
Recalls
trucking
strike
Logistics
business systems
supply chain disruption
warehousing
food
Business tools
News
Technology
freight
Unions and Guilds
Distributor Credit Management
Fleet Management
Great Employees
Operations Improvement
Pricing Solutions
distribution talk
Christmas Season
Ideas
Managing Debt
Ports
Trade Shows
bankruptcy
management
paradigm
route optimization tools
Alternative Businesses
China Falling
Editors Note
Excess Inventory
Lawsuits
Licensing
Profit and Loss Report
Recession
Wal-Mart
advertising Tips
environmental logistics
relocations
retail
shortages
Accounting Restatements
Airport Privatization
Consumers Harmed
Editor Comments
Education and Training
European Business
Government Plans
Hosting
Inflation
International Trade
Market Conditions
Movie Distribution
Photo
Rail
Software
Vehicles
distribution real estate
horizontal integration
imports
k-rail
recycling distribution
regulation
scandals - Prosecutions
trade free zones
trains
vertical integration
warranty repair
Links
About Me
Subscribe to this Blog
Blog Archive
-
▼
2008
(159)
-
▼
December
(19)
- Toyota Cuts Outlook
- Trade Show Booths
- Fed/Ex Makes News Again
- Save Time Document Scanning
- Fed/Ex Share Drop
- Weight Loss Tea
- Supply Chain Mystery to CEO's
- Tactical Gear
- CP Rail Hit by Recession
- All Inclusive Vacations Booming
- Recent Freight and Logistics Updates
- UAL Corp to Cut 1,200
- Coffee Will Never Be The Same
- Big Three Bailout Cont.
- TFS Hosting
- Auto-Bailout Pleas
- Weight Loss Tea; A Miracle In Itself
- CEO of Ford to Earn $1 Salary
- Changing Industries
-
▼
December
(19)
Subscribe Via Email
Tuesday, December 02, 2008
CEO of Ford to Earn $1 Salary
For those of us who can't get enough of the ongoing auto-industry bailout drama, today the CEO of Ford promised to lower his annual salary to $1 in order to secure a 25 Billion dollar bridge loan to secure the business. The announcement comes mere weeks after the big three automakers CEO's arrived in Washington, DC for a hearing via individual private jets that cost an estimated 50K apiece. Apparently arriving hat in hand looking for a handout via private jet is the type of behavior that will get one laughed at even in that town.
In addition to the Ford CEO's salary pledge, he continues to claim that the company will sell its five private jets and attempt to cut United Auto Workers Union labor costs as well as other belt tightening activities. Honestly, it is about time that Ford decided to develop a comprehensive plan to submit to congress. Personally, I think that the union has had Ford and Michigan legislators over the barrel for years and is finally about to reap what they have sewn. I come from a union family and I have to say that the UAW has been raping and pillaging the auto industry forever. I mean, 60K a year to work the assembly line, that is ridiculous!
Class warrior aside, it will be interesting to follow this story as things develop in the coming days. I don't expect to see any handouts the rest of the year. I believe it will be up to the 11th congress and President-Elect Obama.
Labels:bankruptcy,Economy
Subscribe to:
Post Comments
(Atom)
0 comments: