Anyone curious there’s approximately 177k Ford employees, and 21m divides to a little over 117k a person.
The union is asking for a 40% raise over 4-5 years. So 40% total spread across 4-5 years. Average wages are 100k (60k-130k). That’s 24k a person. All together is 4.3m rounding up.
He’d go from 21m to 16.5 mill, if his wages are totally stagnant, and he doesn’t get any kind of yearly bonus, which I really doubt he isn’t, and then also considered most CEOs make the majority of their yearly net gain in stocks alone.
No one should earn that kind of money period.
If you make $100,000 for 40 years straight that is $4M. This dude made $21M in a single year. Ford’s share buyback program in 2022 totaled $484M. GM’a share buyback program totaled $3.4B in the past twelve months. We live in a fucked up world. Meanwhile, Ford/GM/Stellantis employees cannot afford to even buy the vehicles they make or feed themselves decent food.
Total revolution needed. Workers that do the real thing barely can feed their mouth, while those useless management ceo got huge cut
Salaries should by law be capped at max 10 times the lowest
Doesn’t Japan have a system like that? The difference in the lowest and highest paid employee can only be so many thousands different?
Yep, my friend works in a Japanese company and his CEO only makes 3x his salary.
It’s unfortunate that it also requires you to live within shooting range of North Korea and China. Because Japan is a nice vacation spot.
As an MBA, I will simply state that you all do not understand capitalism. A CEO is kind of like a sports star. They make what they make because they are making all the hard shots and keeping the team afloat. They are like the captain and coach of the team in one. It takes many years to curate the skills required to be a good CEO and there are only so many people good enough in each industry to take on the challenge. 21M is modest compared to Ford’s profits. If they provided less, he would simply move to a competitor in the same way that sports stars shop around. The idea that everyone in the company should have their salaries compared in terms of orders of magnitude of the CEO is insane. It’s like attempting to say that the janitor at a doctor’s office should have to make tens of thousands above the going rate of what a janitor’s output is worth on the open market simply because the star of the business is able to bring in a lot of money. In general, the idea that the CEO doesn’t work as hard as the line workers is incorrect. They CEO meets all day with direct reports and investors and steers the ship.
If this isn’t sarcasm, have fun steering a ship with no crew.
The market will dictate your worth. Have fun asking for too much money and not getting it.
Nothing lasts forever.
Not even capitalism.
You say the market will decide my worth. The people will decide yours
