Gm Execs' Salaries Restored

[fbachman]

DETROIT -- General Motors gave its top executives a pay increase this year and returned CEO Rick Wagoner's base salary to its 2003-06 level.

 

In its annual proxy statement released today, GM listed CEO Rick Wagoner's 2008 base salary as $2.2 million, up from $1.65 million last year. Wagoner made $2.2 million in 2006, but took a voluntary pay cut to $1.1 million, citing GM's market struggles.

 

Fritz Henderson's base salary was increased to $1.8 million in recognition of his promotion to president and COO in March. Henderson had been CFO earning $1.3 million in March 2007.

 

GM's product czar, Bob Lutz, also got a base salary boost to $1.75 million, from $1.3 million. Both Henderson and Lutz had base salaries of $1.55 million in 2006.

 

" We believe that paying base salaries that are at the high end of market pay levels is the most appropriate approach to help retain executives throughout the business cycle as actual total compensation received can be much lower than competitive levels," the proxy statement reads.

 

Total 2007 compensation for GM's top five executives, including salary, stock awards, options and other income, was:

 

• Wagoner: $14.4 million

 

• Henderson: $7.6 million

 

• Lutz: $6.9 million

 

• Gary Cowger, group vice president of manufacturing and labor relations: $5.1 million

 

• Tom Stephens, group vice president of global powertrain and global quality: $4.9 million

 

Cowger's base salary remained unchanged, Stephens' base salary rose to $1 million in recognition of his appointment as executive vice president of global powertrain and global quality on March 3.

 

GM has scheduled its annual stockholders' meeting for June 3 in Wilmington, Del.

 

The company also announced that E. Neville Isdell, chairman and CEO of The Coca-Cola Co., has been nominated to the GM board. Fourteen board candidates will be up for election. If Isdell is elected, he will join the board Aug. 6

[GatorFan]

DETROIT -- General Motors gave its top executives a pay increase this year and returned CEO Rick Wagoner's base salary to its 2003-06 level.

 

In its annual proxy statement released today, GM listed CEO Rick Wagoner's 2008 base salary as $2.2 million, up from $1.65 million last year. Wagoner made $2.2 million in 2006, but took a voluntary pay cut to $1.1 million, citing GM's market struggles.

 

Fritz Henderson's base salary was increased to $1.8 million in recognition of his promotion to president and COO in March. Henderson had been CFO earning $1.3 million in March 2007.

 

GM's product czar, Bob Lutz, also got a base salary boost to $1.75 million, from $1.3 million. Both Henderson and Lutz had base salaries of $1.55 million in 2006.

 

" We believe that paying base salaries that are at the high end of market pay levels is the most appropriate approach to help retain executives throughout the business cycle as actual total compensation received can be much lower than competitive levels," the proxy statement reads.

 

Total 2007 compensation for GM's top five executives, including salary, stock awards, options and other income, was:

 

• Wagoner: $14.4 million

 

• Henderson: $7.6 million

 

• Lutz: $6.9 million

 

• Gary Cowger, group vice president of manufacturing and labor relations: $5.1 million

 

• Tom Stephens, group vice president of global powertrain and global quality: $4.9 million

 

Cowger's base salary remained unchanged, Stephens' base salary rose to $1 million in recognition of his appointment as executive vice president of global powertrain and global quality on March 3.

 

GM has scheduled its annual stockholders' meeting for June 3 in Wilmington, Del.

 

The company also announced that E. Neville Isdell, chairman and CEO of The Coca-Cola Co., has been nominated to the GM board. Fourteen board candidates will be up for election. If Isdell is elected, he will join the board Aug. 6

Maybe they should take more pay cuts and make trucks that don't tick!

[tobias]

So that's where my under-hood light went!

[MS3DALE]

I'll sleep soooo much better knowing that their pay got increased or restored Geeezz.....No wonder why GM can't make a profit

[GatorFan]

So that's where my under-hood light went!

That's just sad, no underhood light and those guys are wiping their asses with $100 bills I would trade it in on a Tundra with some 22" rims Daddy!

[tobias]

So that's where my under-hood light went!

That's just sad, no underhood light and those guys are wiping their asses with $100 bills I would trade it in on a Tundra with some 22" rims Daddy!

 

 

Ridgeline, Dude, Geesh.

 

And we're talkin' 24's, baby, Yeah!!!

 

[GatorFan]

So that's where my under-hood light went!

That's just sad, no underhood light and those guys are wiping their asses with $100 bills I would trade it in on a Tundra with some 22" rims Daddy!

 

 

Ridgeline, Dude, Geesh.

 

And we're talkin' 24's, baby, Yeah!!!

 

 

That almost looks like a hot wheels car I played with when I was a kid

[fbachman]

So that's where my under-hood light went!

That's just sad, no underhood light and those guys are wiping their asses with $100 bills I would trade it in on a Tundra with some 22" rims Daddy!

 

 

Ridgeline, Dude, Geesh.

 

And we're talkin' 24's, baby, Yeah!!!

 

 

That almost looks like a hot wheels car I played with when I was a kid

 

 

only smaller....

[SilveradoLAX7]

DETROIT -- General Motors gave its top executives a pay increase this year and returned CEO Rick Wagoner's base salary to its 2003-06 level.

 

In its annual proxy statement released today, GM listed CEO Rick Wagoner's 2008 base salary as $2.2 million, up from $1.65 million last year. Wagoner made $2.2 million in 2006, but took a voluntary pay cut to $1.1 million, citing GM's market struggles.

 

Fritz Henderson's base salary was increased to $1.8 million in recognition of his promotion to president and COO in March. Henderson had been CFO earning $1.3 million in March 2007.

 

GM's product czar, Bob Lutz, also got a base salary boost to $1.75 million, from $1.3 million. Both Henderson and Lutz had base salaries of $1.55 million in 2006.

 

" We believe that paying base salaries that are at the high end of market pay levels is the most appropriate approach to help retain executives throughout the business cycle as actual total compensation received can be much lower than competitive levels," the proxy statement reads.

 

Total 2007 compensation for GM's top five executives, including salary, stock awards, options and other income, was:

 

• Wagoner: $14.4 million

 

• Henderson: $7.6 million

 

• Lutz: $6.9 million

 

• Gary Cowger, group vice president of manufacturing and labor relations: $5.1 million

 

• Tom Stephens, group vice president of global powertrain and global quality: $4.9 million

 

Cowger's base salary remained unchanged, Stephens' base salary rose to $1 million in recognition of his appointment as executive vice president of global powertrain and global quality on March 3.

 

GM has scheduled its annual stockholders' meeting for June 3 in Wilmington, Del.

 

The company also announced that E. Neville Isdell, chairman and CEO of The Coca-Cola Co., has been nominated to the GM board. Fourteen board candidates will be up for election. If Isdell is elected, he will join the board Aug. 6

Wagoner has done a good job during his tenure...even if you don't have a light under your hood. Lutz is an absolute bargain at 7 million. These guys don't manage 6 employees at the local 7-11, they are compensated in line with any other officers of major corporations. Cut all their salaries in half, and lets see what 2nd rate bums are running GM into the ground in three years.

...just my two cents...

-Jay

[tobias]

DETROIT -- General Motors gave its top executives a pay increase this year and returned CEO Rick Wagoner's base salary to its 2003-06 level.

 

In its annual proxy statement released today, GM listed CEO Rick Wagoner's 2008 base salary as $2.2 million, up from $1.65 million last year. Wagoner made $2.2 million in 2006, but took a voluntary pay cut to $1.1 million, citing GM's market struggles.

 

Fritz Henderson's base salary was increased to $1.8 million in recognition of his promotion to president and COO in March. Henderson had been CFO earning $1.3 million in March 2007.

 

GM's product czar, Bob Lutz, also got a base salary boost to $1.75 million, from $1.3 million. Both Henderson and Lutz had base salaries of $1.55 million in 2006.

 

" We believe that paying base salaries that are at the high end of market pay levels is the most appropriate approach to help retain executives throughout the business cycle as actual total compensation received can be much lower than competitive levels," the proxy statement reads.

 

Total 2007 compensation for GM's top five executives, including salary, stock awards, options and other income, was:

 

• Wagoner: $14.4 million

 

• Henderson: $7.6 million

 

• Lutz: $6.9 million

 

• Gary Cowger, group vice president of manufacturing and labor relations: $5.1 million

 

• Tom Stephens, group vice president of global powertrain and global quality: $4.9 million

 

Cowger's base salary remained unchanged, Stephens' base salary rose to $1 million in recognition of his appointment as executive vice president of global powertrain and global quality on March 3.

 

GM has scheduled its annual stockholders' meeting for June 3 in Wilmington, Del.

 

The company also announced that E. Neville Isdell, chairman and CEO of The Coca-Cola Co., has been nominated to the GM board. Fourteen board candidates will be up for election. If Isdell is elected, he will join the board Aug. 6

Wagoner has done a good job during his tenure...even if you don't have a light under your hood. Lutz is an absolute bargain at 7 million. These guys don't manage 6 employees at the local 7-11, they are compensated in line with any other officers of major corporations. Cut all their salaries in half, and lets see what 2nd rate bums are running GM into the ground in three years.

...just my two cents...

-Jay

 

 

I certainly agree they deserve more than the salesman at the lot but $15m/yr for running a company that's losing money hand-over-fist seems a bit outrageous. It's not like he just got there. If I lost my company money year-over-year, I'd be fired.

 

As for his pay being in line with officers at other major corporations, they're all friggin' overpaid in my book. I'm an executive (VP) so please don't take this as some biased, bitter line-worker bitching about "The Man", take it as a guy who thinks it's unfair to cut jobs while raking $15m.

 

GM is a bad company to make this point with considering the damn union is half of the problem but the points are still valid nonetheless.

[tobias]

DETROIT -- General Motors gave its top executives a pay increase this year and returned CEO Rick Wagoner's base salary to its 2003-06 level.

 

In its annual proxy statement released today, GM listed CEO Rick Wagoner's 2008 base salary as $2.2 million, up from $1.65 million last year. Wagoner made $2.2 million in 2006, but took a voluntary pay cut to $1.1 million, citing GM's market struggles.

 

Fritz Henderson's base salary was increased to $1.8 million in recognition of his promotion to president and COO in March. Henderson had been CFO earning $1.3 million in March 2007.

 

GM's product czar, Bob Lutz, also got a base salary boost to $1.75 million, from $1.3 million. Both Henderson and Lutz had base salaries of $1.55 million in 2006.

 

" We believe that paying base salaries that are at the high end of market pay levels is the most appropriate approach to help retain executives throughout the business cycle as actual total compensation received can be much lower than competitive levels," the proxy statement reads.

 

Total 2007 compensation for GM's top five executives, including salary, stock awards, options and other income, was:

 

• Wagoner: $14.4 million

 

• Henderson: $7.6 million

 

• Lutz: $6.9 million

 

• Gary Cowger, group vice president of manufacturing and labor relations: $5.1 million

 

• Tom Stephens, group vice president of global powertrain and global quality: $4.9 million

 

Cowger's base salary remained unchanged, Stephens' base salary rose to $1 million in recognition of his appointment as executive vice president of global powertrain and global quality on March 3.

 

GM has scheduled its annual stockholders' meeting for June 3 in Wilmington, Del.

 

The company also announced that E. Neville Isdell, chairman and CEO of The Coca-Cola Co., has been nominated to the GM board. Fourteen board candidates will be up for election. If Isdell is elected, he will join the board Aug. 6

Wagoner has done a good job during his tenure...even if you don't have a light under your hood. Lutz is an absolute bargain at 7 million. These guys don't manage 6 employees at the local 7-11, they are compensated in line with any other officers of major corporations. Cut all their salaries in half, and lets see what 2nd rate bums are running GM into the ground in three years.

...just my two cents...

-Jay

 

 

I certainly agree they deserve more than the salesman at the lot but $15m/yr for running a company that's losing money hand-over-fist seems a bit outrageous. It's not like he just got there. If I lost my company money year-over-year, I'd be fired.

 

As for his pay being in line with officers at other major corporations, they're all friggin' overpaid in my book. I'm an executive (VP) so please don't take this as some biased, bitter line-worker bitching about "The Man", take it as a guy who thinks it's unfair to cut jobs while raking $15m.

 

GM is a bad company to make this point with considering the damn union is half of the problem but the points are still valid nonetheless.

[Guest Riggs]

so there salarys added up is about 1125 Silverado's priced at $35,000

[tobias]

so there salarys added up is about 1125 Silverado's priced at $35,000

 

That's gross. How many is it when you're actually figuring based on profit?

[fbachman]

DETROIT -- General Motors gave its top executives a pay increase this year and returned CEO Rick Wagoner's base salary to its 2003-06 level.

 

In its annual proxy statement released today, GM listed CEO Rick Wagoner's 2008 base salary as $2.2 million, up from $1.65 million last year. Wagoner made $2.2 million in 2006, but took a voluntary pay cut to $1.1 million, citing GM's market struggles.

 

Fritz Henderson's base salary was increased to $1.8 million in recognition of his promotion to president and COO in March. Henderson had been CFO earning $1.3 million in March 2007.

 

GM's product czar, Bob Lutz, also got a base salary boost to $1.75 million, from $1.3 million. Both Henderson and Lutz had base salaries of $1.55 million in 2006.

 

" We believe that paying base salaries that are at the high end of market pay levels is the most appropriate approach to help retain executives throughout the business cycle as actual total compensation received can be much lower than competitive levels," the proxy statement reads.

 

Total 2007 compensation for GM's top five executives, including salary, stock awards, options and other income, was:

 

• Wagoner: $14.4 million

 

• Henderson: $7.6 million

 

• Lutz: $6.9 million

 

• Gary Cowger, group vice president of manufacturing and labor relations: $5.1 million

 

• Tom Stephens, group vice president of global powertrain and global quality: $4.9 million

 

Cowger's base salary remained unchanged, Stephens' base salary rose to $1 million in recognition of his appointment as executive vice president of global powertrain and global quality on March 3.

 

GM has scheduled its annual stockholders' meeting for June 3 in Wilmington, Del.

 

The company also announced that E. Neville Isdell, chairman and CEO of The Coca-Cola Co., has been nominated to the GM board. Fourteen board candidates will be up for election. If Isdell is elected, he will join the board Aug. 6

Wagoner has done a good job during his tenure...even if you don't have a light under your hood. Lutz is an absolute bargain at 7 million. These guys don't manage 6 employees at the local 7-11, they are compensated in line with any other officers of major corporations. Cut all their salaries in half, and lets see what 2nd rate bums are running GM into the ground in three years.

...just my two cents...

-Jay

 

 

I certainly agree they deserve more than the salesman at the lot but $15m/yr for running a company that's losing money hand-over-fist seems a bit outrageous. It's not like he just got there. If I lost my company money year-over-year, I'd be fired.

 

As for his pay being in line with officers at other major corporations, they're all friggin' overpaid in my book. I'm an executive (VP) so please don't take this as some biased, bitter line-worker bitching about "The Man", take it as a guy who thinks it's unfair to cut jobs while raking $15m.

 

GM is a bad company to make this point with considering the damn union is half of the problem but the points are still valid nonetheless.

 

 

no $hit.... look at Immelt at GE....

 

negative stock growth over his 7 year tenure, and he is getting something like 14 mil ?????

 

where do I sign up for that job? I could lose that much too....

[SilveradoLAX7]

DETROIT -- General Motors gave its top executives a pay increase this year and returned CEO Rick Wagoner's base salary to its 2003-06 level.

 

In its annual proxy statement released today, GM listed CEO Rick Wagoner's 2008 base salary as $2.2 million, up from $1.65 million last year. Wagoner made $2.2 million in 2006, but took a voluntary pay cut to $1.1 million, citing GM's market struggles.

 

Fritz Henderson's base salary was increased to $1.8 million in recognition of his promotion to president and COO in March. Henderson had been CFO earning $1.3 million in March 2007.

 

GM's product czar, Bob Lutz, also got a base salary boost to $1.75 million, from $1.3 million. Both Henderson and Lutz had base salaries of $1.55 million in 2006.

 

" We believe that paying base salaries that are at the high end of market pay levels is the most appropriate approach to help retain executives throughout the business cycle as actual total compensation received can be much lower than competitive levels," the proxy statement reads.

 

Total 2007 compensation for GM's top five executives, including salary, stock awards, options and other income, was:

 

• Wagoner: $14.4 million

 

• Henderson: $7.6 million

 

• Lutz: $6.9 million

 

• Gary Cowger, group vice president of manufacturing and labor relations: $5.1 million

 

• Tom Stephens, group vice president of global powertrain and global quality: $4.9 million

 

Cowger's base salary remained unchanged, Stephens' base salary rose to $1 million in recognition of his appointment as executive vice president of global powertrain and global quality on March 3.

 

GM has scheduled its annual stockholders' meeting for June 3 in Wilmington, Del.

 

The company also announced that E. Neville Isdell, chairman and CEO of The Coca-Cola Co., has been nominated to the GM board. Fourteen board candidates will be up for election. If Isdell is elected, he will join the board Aug. 6

Wagoner has done a good job during his tenure...even if you don't have a light under your hood. Lutz is an absolute bargain at 7 million. These guys don't manage 6 employees at the local 7-11, they are compensated in line with any other officers of major corporations. Cut all their salaries in half, and lets see what 2nd rate bums are running GM into the ground in three years.

...just my two cents...

-Jay

 

 

I certainly agree they deserve more than the salesman at the lot but $15m/yr for running a company that's losing money hand-over-fist seems a bit outrageous. It's not like he just got there. If I lost my company money year-over-year, I'd be fired.

 

As for his pay being in line with officers at other major corporations, they're all friggin' overpaid in my book. I'm an executive (VP) so please don't take this as some biased, bitter line-worker bitching about "The Man", take it as a guy who thinks it's unfair to cut jobs while raking $15m.

 

GM is a bad company to make this point with considering the damn union is half of the problem but the points are still valid nonetheless.

 

A fair arguement... but do you deal with workers and the worker's of your suppliers constantly threatening or going on strike? Does your competition (japanese imports) enjoy an enormous advantage in labor rates? Overzealous and intrusive federal governmental regulations and interference (not to mention what the California legislature has done to hamstring the factories). And I still say Lutz is worth every penny of the 7 mil.

-Jay