My thoughts on THE AUTOMAKER BAILOUT

Here is some information I've collected from various news sources. Proof positive that the world has indeed gone crazy. This information is just obscene.


RBC Gord Nixon Salary $1,400,000 Bonus $4,000,000 Total Annual Compensation $5,400,000.


Saturday 23 February 2008 TORONTO: Toronto Dominion Bank has announced that CEO Ed Clark has received compensation worth $14.2 million last year, up from nearly $12 million in 2006, partly in recompense for his decision to keep the bank clear of the subprime mortgage debacle.


GM's Rick Wagoner's total compensation for 2007 was $15.7 million. In 2007, Wagoner received $3.4 million in salary and cash incentives. In addition, Wagoner received almost $700,000 "other compensation," which includes services such as personal security and use of corporate jets.

Ford boss Alan Mulally's was almost $22.8 million. Mulally was paid $9 million and got $1.4 million in "other compensation," which includes services such as personal security and use of corporate jets.

In terms of pay, that put them in the top quarter of CEOs in the Standard & Poor's 500 index -- while their companies were considerably further down the ladder. GM ranked 190th in the S&P 500 in stock market value last year, and Ford was No. 233.


April 2007: GM also did not award its workers bonuses or profit-sharing checks last year (2006), when it lost $2 billion, a significant improvement over the $10.4 billion it lost in 2005.


Do you want stats on what the autoworkers make? link here


From a July 2006 news article:

How big can CEO pay packages get? In some cases, they're breathtaking. Auto-parts magnate Frank Stronach drove his pay package to $33.3 million US last year. CNR's Hunter Harrison rode the rails for $56 million. Potash Corp.'s William Doyle made an earthy $22 million. Telus CEO Darren Entwistle phoned home with his $14.1 million.

But even those bulging pay packets paled next to the one awarded to Hank Swartout, the CEO of Precision Drilling. He made $75 million — with much of that from stock options cashed in when the company converted to an income trust.

In Corporate America, there are even bigger breadwinners. Richard Fairbank, the CEO of Capital One Financial Group, pulled in $249.3 million US, exclusively by exercising stock options.

The average CEO in the U.S. now makes 430 times what the average worker makes. That's up more than 10-fold since 1980.