2020 C8 Corvette Stringray

[Chris GTO TT]

I typed up a long response twice and deleted it twice. As corrupt and terrible as the UAW is I tend to side with them on this strike.

[mjannusch]

Well, Chevrolet has around 170,000 employees. So I guess each employee could get a $10 bonus for each $1M of executive bonuses. In 2018 Mary Barra made $21M in compensation. $4,500,000 of that was a straight bonus. So I guess each employee could get a $45 bonus.

Someone must think she's worth almost $22M a year in compensation.

She green-lighted the C8, and maybe the C7? So I say give her the bonus. lol

[DCIV]

You really think anyone deserves 1/4th of what they make all year in a bonus? That’s a lot!


Coop

[mjannusch]

If it is a performance-based bonus, then yes.

[aaronatstate]

[quote=""DCIV""]You really think anyone deserves 1/4th of what they make all year in a bonus? That’s a lot!


Coop[/quote]

That's how it works where my wife works :d ontknow:

She can get up to 30% of her base pay (I think) in a bonus. But it depends on the companies performance, one year it was like 35% of 30%. Last year it was 95% of 30%.

This strike has a lot to do with all the union gave up last time to help save GM, and now that GM has been doing very well recently (up until the last quarter anyway), they want some of the stuff they gave up back.

[Chris GTO TT]

[quote=""mjannusch""]If it is a performance-based bonus, then yes.[/quote]

Or a golden parachute...

CEO pay in this country is absolutely asinine and shows no actual performance gains.

[vr4]

[quote=""Chris GTO TT""]Or a golden parachute...

CEO pay in this country is absolutely asinine and shows no actual performance gains.[/quote]

[DCIV]

[quote=""aaronatstate""]That's how it works where my wife works :d ontknow:

She can get up to 30% of her base pay (I think) in a bonus. But it depends on the companies performance, one year it was like 35% of 30%. Last year it was 95% of 30%.

This strike has a lot to do with all the union gave up last time to help save GM, and now that GM has been doing very well recently (up until the last quarter anyway), they want some of the stuff they gave up back.[/quote]

Well that’s cool for you guys but I think bonus or even salaries in the 10 and up millions is outrageous. You really need 10 million (or more) a year. I don’t know where the real line should be drawn, just saying I don’t agree with it.


Coop

[MumRa]

[quote=""DCIV""]Well that’s cool for you guys but I think bonus or even salaries in the 10 and up millions is outrageous. You really need 10 million (or more) a year. I don’t know where the real line should be drawn, just saying I don’t agree with it.


Coop[/quote]
wjo are you to decide what other people "need"? how many cars do you have? do you "need" them all?

if a company wants to pay someone something what business is it of yours? what about pro-athletes? no one ever cries for the gov't to regulate their pay. what about college administrators and Deans? those guys can make a ton but no one is chasing them with pitchforks when they start crying about the cost of school.


all in all jealousy is a shit reason to try and regulate/tax something and that's all it is.

[MumRa]

https://www.youtube.com/watch?time_cont ... MerEZYwMnQ

[mjannusch]

My wife's comp is about 25% bonus/stock oriented. She's not quite executive level, but very close. It makes sense because then the employee has a vested interest in the performance of the company and should be making the right decisions for the company's health.

Big salaries - if that employee didn't provide the value, then they wouldn't get the compensation. If they feel that they need that particular CEO then they will stick with them. If the performance is under par, they'll replace them. Boards are like that. Publicly-held companies have periodic votes by the shareholders for board-level positions as well, so the shareholders get a say in it.

It isn't about "need", it is about "value".

[Jeff V.]

Counter-point: Carly Fiorina.

In 1999, a dysfunctional HP board committee, filled with its own poisoned politics, hired her with no CEO experience, nor interviews with the full board. Fired in 2005, after six years in office, several leading publications titled her one of the worst technology CEOs of all time. In fact, the stock popped 10% on the news of her firing and closed the day up 7%.

Arianna Packard, the granddaughter of HP’s founder, commented when discouraging voters from supporting Fiorina in her 2010 senatorial run, “I know a little bit about Carly Fiorina, having watched her almost destroy the company my grandfather founded.”

Despite such carnage, Fiorina pocketed over $100 million in compensation for her short reign—including a $65 million signing bonus and a $21 million severance.

https://fortune.com/2015/08/14/carly-fi ... esident-2/

That's just the first one that pops into mind.

[MumRa]

sounds like a diversity hire gone wrong. "we've got to hire her and pay her a lot. if we don't that'll look sexist.".

[mjannusch]

HP wasn't smart for a long time there... And yes, she made some completely insane decisions there.

As your company is going down the shitter, you shouldn't be paying out performance bonuses. That's why I said performance-based bonuses are a good thing. The employee needs to EARN that bonus by meeting measurable criteria. Just giving people bonuses because you like them or whatever - yeah, that's bullshit.

[MumRa]

company makes shit decisions = company has to pay for it.

gov't makes shit decisions = more taxes and most of us pay for it.

[DCIV]

[quote=""MumRa""]wjo are you to decide what other people "need"? how many cars do you have? do you "need" them all?

if a company wants to pay someone something what business is it of yours? what about pro-athletes? no one ever cries for the gov't to regulate their pay. what about college administrators and Deans? those guys can make a ton but no one is chasing them with pitchforks when they start crying about the cost of school.


all in all jealousy is a shit reason to try and regulate/tax something and that's all it is.[/quote]

No I don’t need everything I have. And I don’t care if they make a shit ton. But 10 million is more than a shit ton. It’s excessive. It’s not jealousy. It’s stupidity.


Coop

[stealthee]

Again, who are you to say it's too much? If someone worked their ass off to get to the top then they deserve performance bonuses. If a company is worth billions then a 10 million dollar bonus is nothing.

[Chris GTO TT]

If they are actively stifling wage growth to their employees while simultaneously padding their own pockets then yes I feel like people should have a say. GM right now is saying they cannot afford to pay line staff and hire permanent employees while top executives get huge payouts and bonuses.

[aaronatstate]

[quote=""DCIV""]No I don’t need everything I have. And I don’t care if they make a shit ton. But 10 million is more than a shit ton. It’s excessive. It’s not jealousy. It’s stupidity.


Coop[/quote]

Since it's more than a shit ton, would you say it's a fuck ton, maybe even a metric fuck ton?

[quote=""Chris GTO TT""]If they are actively stifling wage growth to their employees while simultaneously padding their own pockets then yes I feel like people should have a say. GM right now is saying they cannot afford to pay line staff and hire permanent employees while top executives get huge payouts and bonuses.[/quote]

Which is a 100% valid point.

Just saying that 10 million is too much is not.

[DCIV]

Fine. Take what chris said. Same point.


Coop