Ford CEO offers to work for $1 a year

I actually might be impressed if he donated 75% of his total worth to helping bail out the company

You beat me to it! I would also be quite impressed if Vikram Pandit of Citigroup (who was being pais like $150M a year) would return the money he made in the past two years to prop up his company instead of eating up my tax dollars.

The OP lacks in depth of analysis, as usual.

Yea that's great (-_-).....$1 a year.....hmmm...I'll bet it comes with a 20 million dollar bonus at the end of that year though.

This is what every company receiving a government bailout should be doing, and it's been a long time coming.

Personally, I think they should all be on limited pay until this is over and the money is paid back. They also need to get rid of their bonus systems, private jets, extortionate business benefits...

IMO, If the government is paying into these companies, they are buying the right to control and monitor them financially until that money is paid back in full. And that should also mean that the public see those results and processes.

Now, the government needs to state that any company expecting support has to do the same.

If the CEO's and senior staff are not willing to make sacrifices to save their business, their career, they get nothing and sink like a stone.

reply to post by detachedindividual

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You know actually you bring up a good point in your post. The Government is going to monitor all of the companies and Banks with these bailouts....which is funny in itself....as they can not even monitor themselves. Oh boy and hits just keep coming.

His salary will be $1, but what will his bonus be? Just playing devil's advocate here.

St Udio: It's no differance than our own Congress. Sure, it looks bad when a business is loosing $ and is operated like this, but our own government has been run just as bad with a WORSE profit loss.

What the hell are you attacking me for?

I simply presented this as the breaking news that it was. It's not my job to analyze this in depth for you.

Come on now buddha, there's no place for that.

What a conceited publicity stunt.

How demoralising it is for the ordinary worker for someone to be that rich, that they're willing to work 'free'!

Screw him. Eat the rich. I wonder how many of them have their own private, security forces (that are loyal) in case the working class decide to take matters into their own hands. Pitchforks and torches, anyone?

Let Ford die its death and from the ashes, a better company can take its place.

I can't see why any person would want or need hundreds of millions of dollars? Greed is sickening.

Maybe I missed it but will they still not be getting bonuses?

If I could get their yearly bonuses I would work for $1 a year as well. But in case I missed it even if they do work for $1 a year they have made enough in the years past to keep them afloat for years to come. What about stock they may have vested in the company, will they forgo it as well?

If they forgo bonuses and work for $1 a year it is nice to see they are trying to do something. Though I suspect they would be getting some profit somewhere. It might be my lack of trust that causes me to think this way though.

Raist

I understand he has been on a 'Basic' of $50 million per year for the last two years. He can afford a salary holiday. I had a nieve belief that the major motor manufacturers had been holding back on new engines, technology and fuels which had been secretly under development for decades in preparation for the the day when oil production starts to decline. But no, I am a complete arse. The bastards have been taking the money and running and now when the bio-degradables hit the fan, out come the collecting tins and hard luck stories.

I actually think he is just following in the footsteps of another CEO. A CEO in Sweden announced he would do this on November 22nd.

Swedish CEO Says He Will Work for Free

Different circumstances for sure, but nice to see these filthy rich CEO's finally figuring out that they MAY not be helping their company image by taking millions of dollars (or whatever currency) from their company.

Especiallyin the case of this Ford CEO, how can they feel justified in taking millions out of the companies coffers while everything around them is falling apart.

to the people typing up paragraphs about the hypocrisies of life and why your feelings are hurt....

to the people saying its a publicity stunt..............

you guys really think we want to read that? try to make this place better.

playing captain obvious is so 1999

Now is this $ 1 the first year then $100 millions the next or is it $ 1 every year until he retired. Why even bother working

reply to post by nyk537

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it's a lie. He won't work for a buck.

He may make it seem that way but guess what there are things that are behind closed doors.

just look GM is making record profits in China. They are asking for a bail out from the U.S GOV AND britian and canada for a bail out. Yet they make record profits in China.

Why not use those record profits and spend it here in the U.S???

I personally thing they are setting up a stage and currently giving a show to the American public.

Acting like they are really broke.

If they get a bail out. I will be the next walking up to Washington asking for a bail out.

My issues would be well GM needs workers and if workers don't have homes then how can they work?? so to keep the economy to float you need to bail me out.

Seriously we all should be knocking at Washington door merry Christmas!!!!!

Making a gesture like "I'll work for $1 per year", makes me want to puke, puke again, then, oh yeah, puke!

It's such a slap in the face to the workers that are working for him that have broken their backs, not giving their kids what they need. I.E. college educations, clothes, proper food, in order for him to be able to afford to be able to work for $1 per year.

The workers should lynch him!

If he actually meant it. He should take the bonuses and give it back to the workers at the end of the year.



[edit on 2-12-2008 by Thethingthatwouldntleave]

ironic

i would work for 1 dolla a year if i also had more money than i could count / hide / rob / swindle / many other greedy words...

piss on my foot and tell me its raining?...>..

little did you know....
that the contract actually says "ONE AMERO per year"

which actually equals 2 mil U.S.$ foretasted value for Dec 09'

muahahahah


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I also agree with this. When the majority of people decide to start a business, they put alot of what they have into getting it started. People live below their means so that they can put more money into their starting business. If they want to keep their company, they surely can take a lifestyle cut for it. Sell the houses, sell the cars, the yaughts, whetever. Im sure a few of those billion dollars they want for a bailout are already in their bank accounts. I dont want to pay for their fups.