Delphi CEO: Pay me $1 a year
-
ColonelPanic
- Posts: 8439
- Joined: Sun Jan 05, 2003 8:48 am
- Location: South Central Indiana
Delphi CEO: Pay me $1 a year
Quote »Delphi Corp. Chairman and CEO Robert S. "Steve" Miller, who has been dishing out tough medicine to auto workers in the past week, has decided to take a dose himself.Miller will reduce his salary to $1 a year and other executives will take pay cuts until the bankrupt auto supplier emerges from Chapter 11 protection.http://www.detnews.com/2005/au...7.htmSo, on paper, he will be getting $1.00, but I wonder what elaborate scheme will be used to funnel the remaining $999,999 or whatever to his wallet under the table? lol!
03 Vibe base. Born 10/14/2002 06:07 AM
Auto, Moon & Tunes, power package. 143k
Neptune/dying clearcoat/primer grey.
'21 Elantra Limited - 2.0L/IVT
'15 Escape SE - 1.6L EcoBoost (hers)
Auto, Moon & Tunes, power package. 143k
Neptune/dying clearcoat/primer grey.
'21 Elantra Limited - 2.0L/IVT
'15 Escape SE - 1.6L EcoBoost (hers)
Re: Delphi CEO: Pay me $1 a year (ColonelPanic)
Pop Quiz. What other famous CEO (hint, similar names) pulled the same stunt?Yeah, I don't buy these little schemes for a minute. Take a look at his stock options! $1 my left foot! No less though, this does free up hard cash for payroll for the other employees and such so it does serve a purpose. You have to give him credit for that.
-Millster-
2006 Toyota Matrix XR
1995 Saab 9000CSE 2.3T
1986 Jaguar XJ6 Vanden Plas (GM Drivetrain Conversion)
2007 Outback XT EJ257 2.6L Build
2006 Toyota Matrix XR
1995 Saab 9000CSE 2.3T
1986 Jaguar XJ6 Vanden Plas (GM Drivetrain Conversion)
2007 Outback XT EJ257 2.6L Build
-
ColonelPanic
- Posts: 8439
- Joined: Sun Jan 05, 2003 8:48 am
- Location: South Central Indiana
Re: Delphi CEO: Pay me $1 a year (millster)
Quote, originally posted by millster »No less though, this does free up hard cash for payroll for the other employees and such so it does serve a purpose. You have to give him credit for that.Just as long as they actually do follow through with the plan. If they misuse that money, they will get nowhere...
03 Vibe base. Born 10/14/2002 06:07 AM
Auto, Moon & Tunes, power package. 143k
Neptune/dying clearcoat/primer grey.
'21 Elantra Limited - 2.0L/IVT
'15 Escape SE - 1.6L EcoBoost (hers)
Auto, Moon & Tunes, power package. 143k
Neptune/dying clearcoat/primer grey.
'21 Elantra Limited - 2.0L/IVT
'15 Escape SE - 1.6L EcoBoost (hers)
-
tnpartsguy
- Posts: 1590
- Joined: Thu Dec 30, 2004 1:22 pm
$1 a year, plus bonuses, use of the corporate jet, the limo, the expense acct........yeah, give me that job and that dollar!
Current Ride 2015 GMC Terrain SLT
2nd Vibe 2006 Vibe AWD Stealth Monotone "Recon" December 2005 MOTM
Original Vibe: 2003 AWD Abyss Monotone "Darth"
GM/ASE Certified Parts Manager.
2nd Vibe 2006 Vibe AWD Stealth Monotone "Recon" December 2005 MOTM
Original Vibe: 2003 AWD Abyss Monotone "Darth"
GM/ASE Certified Parts Manager.
-
ZubenElGenubi
- Posts: 2197
- Joined: Thu Apr 22, 2004 6:22 am
Re: Delphi CEO: Pay me $1 a year (millster)
Quote, originally posted by millster »Pop Quiz. What other famous CEO (hint, similar names) pulled the same stunt?That would be Steve Jobs and I don't think it was a stunt at all. I have no problem with bonus incentives and stock options, provided that they're based on actual positive performance (as opposed to profit by drastic cost reductions).
-
ColonelPanic
- Posts: 8439
- Joined: Sun Jan 05, 2003 8:48 am
- Location: South Central Indiana
Re: (tnpartsguy)
Quote, originally posted by tnpartsguy »$1 a year, plus bonuses, use of the corporate jet, the limo, the expense acct........He sure is going to suffer!!! I hope he can still make ends meet, I'm sure it would be rough to see his yacht be reposessed.
03 Vibe base. Born 10/14/2002 06:07 AM
Auto, Moon & Tunes, power package. 143k
Neptune/dying clearcoat/primer grey.
'21 Elantra Limited - 2.0L/IVT
'15 Escape SE - 1.6L EcoBoost (hers)
Auto, Moon & Tunes, power package. 143k
Neptune/dying clearcoat/primer grey.
'21 Elantra Limited - 2.0L/IVT
'15 Escape SE - 1.6L EcoBoost (hers)
Re: Delphi CEO: Pay me $1 a year (ColonelPanic)
The C.S.'er got a 3 million dollar signing bonus.... Hell, I'd work the rest of my life for fee if you gave me 3 million dollars.....
Sold 6/16/04 03 Vibe 5-speed, Hotchkis Sway Bars & Springs, Hooker Aerochamber, Panasonic Stereo, Hitch, Silverstars,04 Saturn Vue 2.2L Ecotec, 5-speed, 01 Stratus R/T Coupe 5-speed (wife's car) 85 Corvette 268 CompCam, 882 heads, FlatTops, 24lb injectors, Hooker Aerochamber true duals, 58mm TB, Holley AFPR, Siamesed intake base, Polished TPI.
Re: Delphi CEO: Pay me $1 a year (millster)
Quote, originally posted by millster »Pop Quiz. What other famous CEO (hint, similar names) pulled the same stunt?lee Iacocca?
Re: (ColonelPanic)
Quote, originally posted by ColonelPanic »He sure is going to suffer!!! Do you know what it's like to have to pay for insurance on a Ferrari? (yeah, me neither)
-Brian
Re: Delphi CEO: Pay me $1 a year (scherry2)
Quote, originally posted by scherry2 »lee IacoccaSteve Jobs was the answer I was looking for. And as Zuben pointed out, it worked. He successfully turned Apple Computer back around from near failure to what it is today.This sort of thing can work, if they truly are taking the cut.
-Millster-
2006 Toyota Matrix XR
1995 Saab 9000CSE 2.3T
1986 Jaguar XJ6 Vanden Plas (GM Drivetrain Conversion)
2007 Outback XT EJ257 2.6L Build
2006 Toyota Matrix XR
1995 Saab 9000CSE 2.3T
1986 Jaguar XJ6 Vanden Plas (GM Drivetrain Conversion)
2007 Outback XT EJ257 2.6L Build
Re: (Pablo1669)
Quote, originally posted by Pablo1669 »Do you know what it's like to have to pay for insurance on a Ferrari? (yeah, me neither)insurance is generally 10% of the new vihicle cost.plus i don't think the man is broke. i'm sure he has plenty of money saved to take a pay cut himself.but like other have said, there are other bonuses besides pay that can keep the man happy.