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
No one should earn that kind of money period.
Salaries should by law be capped at max 10 times the lowest
Careful, you might be starting to make too much sense!
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.
Don’t forget appallingly long working hours.
Oh, and don’t be not Japanese
I thought he looked a lot like Chris Farley!
Looks like we found one job that should be automated by AI to save Ford 21 million dollars a year.
lol careful. you thought a CEO was heartless, just wait until we put an AI in charge with the ‘goal’ set as profit.
Actually, if you can program it to take inputs of anonymized employee satisfaction surveys, and objective employee satisfaction data (attrition, absenteeism, etc), it could work.
Especially if the AI’s target goals are public information. Nobody would work for a company that set the “employee happiness” and “corporate ethics” dials to 0 and the “improve net profit” dial to 100.
Not only that, it has been proven again and again that treating well workers actually yields positive results, considering the IA would have the best for the Company as a goal instead of the pure greed of current CEO/Stakeholders, there are big chances that IA CEO would treat workers way better than current status.
The problem is if the IA goal is not the best for the Company, but the best for the Stakeholders short term, then we would be fucked 😅
It probably will bankrupt him. But only because he built his business on the basis of exploiting employees. He won’t make money if he doesn’t do that. Which of course means he shouldn’t be in business.
He is only CEO. Ford going to zero will only sting, it cannot bankrupt him.
Your point remains.
CEOs need to take pay cuts. They earn too much and don’t provide enough value for their pay.
The rise in CEO wages is actually unbelievably ridiculous:
For context, this research paper was also pre-pandemic.
On average, CEO salaries jumped about 30% since this research was released. Here is an updated article by the EPI EPI Research
Also for context - on 1965, average CEO-to-worker salary ratio was 20:1, and in 1985 it was 59:1.
Not it’s almost 400:1.
