With a strike upon us ....
Lead Driver
Joined: Jan 2006
Posts: 7,308
Likes: 250
From: Hartford, WI
CEOs WERE doing it for much less even 20 years ago. Pre invasion of Iraq and Afghanistan the CEOs of the 5 largest defense contractors made single digit millions per year with their pay and benefits packages. Lockheed Martin CEO made less than $5million in 2002 and just under $25million by 2007. Did their employee pay increase by a margin even remotely close to that during the same period? Did the CEO job become 5x harder because the government built a funnel of demand for his business specifically? The gap keeps widening because the hourly worker is viewed as expendable and not a valued part of the corporation. When shareholders became the primary responsibility of corporations over customers and employees everything went downhill in this country.
Lead Driver
Joined: Jan 2006
Posts: 7,308
Likes: 250
From: Hartford, WI
there are folks stepping up and doing the same job the over payed big 3 CEO are and for much less compensation just look at what a Japanese auto maker CEO makes none of them are remotely close .. are they less Committed or don't face the same challenges I think not.
Mountain Pass
Joined: Jul 2023
Posts: 109
Likes: 64
From: Sometimes Maine
CEOs are not entirely paid in stock options. They are paid large amounts in stock options for tax purposes. That 40% tax would be hard to avoid if you got $30Million in just salary.
My mom worked for a massive corporation and she was given stock options for 35 years. Some companies do it but they aren't usually underperforming companies like Ford. Ford stock is a dud.
My mom worked for a massive corporation and she was given stock options for 35 years. Some companies do it but they aren't usually underperforming companies like Ford. Ford stock is a dud.
Lead Driver
Joined: Jan 2006
Posts: 7,308
Likes: 250
From: Hartford, WI
my dad worked for Lockheed for 35years. Retired about 5 years ago with a full pension and $0 healthcare deductible till he dies. That’s when companies thought you retired at 65 and died at 68. Can’t do pensions anymore because people sometimes live longer retired then actually worked.
Mountain Pass
Joined: Jul 2022
Posts: 141
Likes: 48
If you lived in that town, worked at that job and never left it, sure. However today, people change careers, companies, move, etc. My 401K is portable when I move from here to there and work for someone else. Pension might not be as portable. Frankly, if I had to choose, I would not want a pension to tie me to you for the rest of my working life. Will your pension be universal? I think not.
im not making the argument for or against. Just stating how things change. Lockheed hasn’t offered a pension for 30 years because they aren’t sustainable. But since most companies don’t offer pensions anymore you have seen a shift of more people moving around now from job to job . There’s pros and cons for both.
Logistics Pro
Joined: May 2021
Posts: 4,012
Likes: 2,330
the CEO pay is a form of performance based pay, not to mention it needs to be high enough to be a hazard pay of sorts. They are there to be scapegoats if things go sideways. LMT had 4 CEOs in the past 20 years. They may go on to other things that pay more or less, there is no guarantee their highest pay will be the same the next year.
Lead Driver
Joined: Jan 2006
Posts: 7,308
Likes: 250
From: Hartford, WI
im not making the argument for or against. Just stating how things change. Lockheed hasn’t offered a pension for 30 years because they aren’t sustainable. But since most companies don’t offer pensions anymore you have seen a shift of more people moving around now from job to job . There’s pros and cons for both.
Lead Driver
Joined: Jan 2006
Posts: 7,308
Likes: 250
From: Hartford, WI
the CEO pay is a form of performance based pay, not to mention it needs to be high enough to be a hazard pay of sorts. They are there to be scapegoats if things go sideways. LMT had 4 CEOs in the past 20 years. They may go on to other things that pay more or less, there is no guarantee their highest pay will be the same the next year.
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Mountain Pass
Joined: Jul 2023
Posts: 109
Likes: 64
From: Sometimes Maine
Sure. Them are the beaks. When a CEO is fired, it isn't like me applying for a job at McDonald's. I could get 10 offers tomorrow from 10 different stores. They might not be able to get a job for years after since there are so few CEO spots. Besides, if they are willing and able to make the necessary sacrifices that I am not, I won't begrudge them. To the Victor, the spoils. Consider this too. I am better than many others. I am also worse off than many others. If I want to gripe about those above me, what about those below me?
Thread Starter
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Cargo Master
Joined: Apr 2018
Posts: 2,403
Likes: 1,123
I said "defective wire nut should be caught by the electrician testing his work" Defects are typically identified by visual inspection (including automated inspection0 and testing just to keep this topic simple.
It's not clear to me that the supplier made the part incorrectly or shipped the wrong part under the wrong P/N. Either way Ford should have some AQL inspection to ensure the parts are compliant to Fords specifications before delivering to the point of use.
Just so you know I'm a manufacturing manager and my plant is both ISO9000 and AS9100D quality systems compliant.
Sincerly,
The No Spin Zone
It's not clear to me that the supplier made the part incorrectly or shipped the wrong part under the wrong P/N. Either way Ford should have some AQL inspection to ensure the parts are compliant to Fords specifications before delivering to the point of use.
Just so you know I'm a manufacturing manager and my plant is both ISO9000 and AS9100D quality systems compliant.
Sincerly,
The No Spin Zone
Ship 45,000 units in. Collect the revenue and fix it on a recall or park them at the speedway.
This wouldn't be the first time manufacturer done something shady. Ford does have somewhat of a history.
If I worked for a fortune 500 company would that make me richer?
Far as we know, it could be one of these certified plants that make the lug wrench.
Lead Driver
Joined: Jan 2006
Posts: 7,308
Likes: 250
From: Hartford, WI
Do I have that level of a job? If not, I don't expect such a package.
Lead Driver
Joined: Jan 2006
Posts: 7,308
Likes: 250
From: Hartford, WI
More Turbo
Joined: Jan 2017
Posts: 633
Likes: 42
So take over the big 3 and do it. Interesting you mention the japanese. Do you recall what their cars were? Garbage. Basically what you get if you can't afford a well made car. In Asia, they also were closer to Japan and people remembered what they did and hated them for it. My Grandpa refused to buy anything Japanese unless he was forced to because he remembered what they did to him. They rose up and became better. Where they are today is not remotely close to where they were in 1950. You think they are overpaid, go show us what you can do for less. If you can, you have my respect. If you can't, quit whining and be happy with your station in life. You chose it because it was the best course of action for you. If that no longer suits you, perhaps you need to make a change. Musk, Gates, etc all took the package that they got. Sure, it does have it's perks but it also has it downfalls.
Lead Driver
Joined: Jan 2006
Posts: 7,308
Likes: 250
From: Hartford, WI
Maybe the big 3 should have hired those guys. Don't know. If they are willing to work for less, let them. I would believe though that there are some other perks we might not know about. I'd be happy to take less money but more vacation time, for example.