• JEM Posted: 3/11/2008 8:57pm PDT

    xjug1987: another consideration for BMW, et al is looming EU CO2 regulation, which may cripple their EU business and push much of their production out of Germany.

  • xjug1987 Posted: 3/11/2008 1:04pm PDT

    val elliott: Hey Val, its called Global competition. BMW is moving more production to SC because labor costs in Germany are higher, and scales with Euro/Dollar are better for the company. Companies exist to make money not employ people. If companies pay you $70.00 an hour but the same priced car is made elsewhere for $20.00 an hour guess which company makes more money... duh... If $14.00 an hour doesn't cut it, go back to school, improve yourself, or start your own business. I'll bet you'd rather pay your employees $14 vs $70 per hour now wouldn't you?

    The key part of this is: Company's don't exist to employ people, its to make money.

  • val elliott Posted: 3/10/2008 10:02pm PDT

    DanDetroit, bet you made more than 14 bucks an hour, bet you still are and I know you are not in touch with reality if you think it is alright to sell out your families future, Rick and Bob have done wonderful things for us and will continue to do so regardless of our bantering back and forth, the issue is not really Rick or Bob wages, it's about sustaining and maintaining a profitable work force here in America and with our hard earned wages(labor/manufacturing) to be able to buy the products we make. We to want our children to go to the best colleges, have good medical benefits mostly we want a future. Why is it always labors fault when things get rocky?

  • val elliott Posted: 3/10/2008 9:46pm PDT

    Good for Rick, he has his and will get more. Well done for the share holders, not do good for the employees who will not fare so well, it is a tough market and The Wagon has rolled on,, the global factor is huge a a risk Mr.Wagoner is willing to take to make GM profitable in the world market...this is a much smaller stage we are getting ready to tear apart, the American dream is no longer a reality at the concessions the suits are asking of their work force, we can be competitive without destroying the working class. I want Rick to make GM prosperous but not at my expense. Our priorities are a little out of sync with reality and the division gets larger and larger leaving more laborers in a hard spot. Look at Ohio and Michigan job loss, how can that be good for our economy? Is there no middle ground?. I don't we are looking very clearly at the BIG picture and many, many people have helped R.W. stay on top with our labor,so yes Rick does deserve to make good money to turn GM around, we should not have to lose for suits to win and this is still the United States of America, not Chimexipan and unless all those who are parting out our jobs for profit understand this how can We the People survive?

  • JEM Posted: 3/10/2008 8:58pm PDT

    The simple fact is that we've got a driveway full of BMWs and Audis yet when I add up the product on the market that I would consider buying today (or the stuff I'd recommend to others) half of it is GM.

    I wouldn't have said that five years ago.

    GM is a giant that's got one leg shackled to its past bad decisions (on product, labor, etc.) but it is making headway.

  • billyjoejimbob Posted: 3/10/2008 8:33pm PDT

    GM has made enormous strides under Rick. By CEO standards, a modest raise. As head of one of the largest enterprises on earth, he earned it.

    Want to ask the crowd this question again? Let's have everyone weigh in on Dick Dauch and the truckloads of cash he took home during the salad days at AAM. Can he honestly say he prepared his orgainization for the reality it faces today?

  • DanDetroit Posted: 3/10/2008 6:27pm PDT

    As a 38 year GM veteran, I am glad that we have leaders like Wagoner & Lutz who are motivated by more than just the money. If you compare executive compensation, you will find that tiny companies (relative to GM) such as Bell & Howell and Black & Decker pay their CEOs much more than Wagoner got. The predicament of GM (& Ford & Chyrysler) is representative of the larger decline in American competitiveness vis-a-vis offshore competitors. We lost cameras, watches, radios. televisions, motorcycles and on and on over decades. The new labor agreement combined with a product renaisance make the future look much better, but it has and will take time to work back to solid profitability. We still have the challenge of the fuel economy standards which kind of "ban" the only vehicles which we have been able to make any money on, trucks and SUVs.
    Those who make statements like "he should get what the UAW workers got" are ignorant of the fundamental fact the salaried employees and executives compensation is controlled by supply and demand. If the compensation is inadequate, they will go elsewhere. This is in contrast to the demand for compensation by a monopolistic union with the threat of a strike to back up the demand. People who are capable of doing the work are lined up around the block to get those jobs for $14/hour, which is still more than our competition pays.

  • xjug1987 Posted: 3/10/2008 4:04pm PDT

    Oh, one other thing, idiot actors get $20 million to make a movie nobody sees, plus percentages of the profits. These guys are responsible for building cars that safely transport our families, and employing tens of thousands of people. They should benefit more when the turnaround is producing more tangible revenue, and handsomely at that.

  • xjug1987 Posted: 3/10/2008 3:59pm PDT

    Rick and Super Star Bob Lutz are worth much more. They're righting what was ship that was listing.... If you have a Football or Baseball Team that is in bad shape, you bring in a good Mgt Team and pay for excellent talent to make it a winner again. Rick is running the business, Bob is making cars people want again, Cowger is making sure they get built right, and Henderson is handling the Finances (and now Operations). Rick doesn't have an easy job, none of these guys do. 25 years from now, we'll have a better perspective, but the car business is not for wimps.

  • wrenchead Posted: 3/10/2008 2:09pm PDT

    Give him the same package as he is dealing to the factory workers.
    Only don't hire him back at half his current salary.
    He is an under performing employee.
    GM loss the number one stop during his watch.
    Fire the coach.
    Come on people, open your eyes.
    Some of you would buy a Chinese roller skate as long as it had GM nameplate.

  • ksmith Posted: 3/10/2008 1:43pm PDT

    I have to agree with PLW, Paul really dropped the ball on this one.

  • Truth Be Told Posted: 3/10/2008 11:38am PDT

    GM is still F'ed up.

    If GM made $500 million in profit after the write offs I would agree with the $2.2 million.

  • John Leese Posted: 3/10/2008 11:32am PDT

    As a GM dealer with two GM franchises, I would say that Rick is worth every penny, if not more. We are very lucky to have him and the team that he has assembled. Just wait another year and it will be very apparent to all why GM under Rick Wagners leadership is one of the best auto companies to be associated with.

  • fred scocozza Posted: 3/10/2008 11:32am PDT

    He's done a great job, I'm very much dismayed by the fact that my 01 Cadillac dts no longer has onstar. It' not fair to someone like me who has owned Cadillacs for thirty years to be deprived of Onstar. Mr. Wagoner should get his engineering mavens to come up with an adapter to convert anolog to digital. Consumer agencies should protest that Onstar was a selling point in 01 and entered into the decision to spend over $50,000. on my car.
    I feel that I've been needlessly shafted and I think that the Cadillac division of GM has an obligation to rectify my sorry plight.

  • Kurt Posted: 3/10/2008 10:27am PDT

    Rick is underpaid for what he's accomplished and for his enormous level of responsibility. Who's overpaid? Athletes who make many multiples of his salary, and have no responsibilty whatsoever.

  • Tom L Posted: 3/9/2008 4:04pm PDT

    I wonder why Mr. Wagoneer is still there if he's "only" getting 2.2 million. I've read articles stating that the average CEO makes 365 times as much as the labor does for a given company (I've read other articles stating that figure is as high as 540 and that in the eighty's the # was more like 80). So if the new workforce is getting a minimum of $14 per hour that translates to approximately $28000 per year. Multiply that by 365 and you get just over $10 million. There has to be a pretty hefty financial incentive for Mr. Wagoneer to stick around that's not being mentioned in the article.

    Also Henry Ford stated "There is one rule for industrialists and that is: make the best quality of goods possible at the lowest cost possible, paying the highest wages possible." I wonder if GM (and the rest of the industry) has interpreted that rule to apply only to executive pay.

  • Mr. PLW Posted: 3/9/2008 12:11am PST

    The article fails in many respects. What has GM done under a team of managers is take on the world and do quite well. The writer is asleep at the wheel by not registering the year 2007 as GM's second best selling year....ever. 1st best selling was in in 1970's. GM now sells "many" more cars outside US than inside and leads in all but about 3 out of 20 major countries for auto sales. GM reach is stronger globally than ever with double digit sales increases in 3 of the 5 major markets worldwide for 2007. It remained the largest selling car maker by selling 100k's of more cars overseas. The article ignores options for GM management. The article ignores the hefty signing bonus for Ford's Mujally (spelling). The article ignores how GM is trying in 2008 to buyout other high paid workers to replace them with lower paid workers and match employee compensation with J compensated workers here in the US. Clear reason is good management doesn't overpay for the work performed. 2.2 million is cheap salary for the level of responsibility that GM's team has shouldered during the past 5 years. GM did not lose $38.7 million, it was $38.7 billion. GM, did not lose it in cash, most writers can't understand the high importance of this point. Given the above how do we improve on this article?

  • Mr. W Posted: 3/9/2008 12:08am PST

    The article fails in many respects. What has GM done under a team of managers is take on the world and do quite well. The writer is asleep at the wheel by not registering the year 2007 as GM's second best selling year....ever. 1st best selling was in in 1970's. GM now sells "many" more cars outside US than inside and leads in all but about 3 out of 20 major countries for auto sales. GM reach is stronger globally than ever with double digit sales increases in 3 of the 5 major markets worldwide for 2007. It remained the largest selling car maker by selling 100k's of more cars overseas. The article ignores options for GM management. The article ignores the hefty signing bonus for Ford's Mujally (spelling). The article ignores how GM is trying in 2008 to buyout other high paid workers to replace them with lower paid workers and match employee compensation with J compensated workers here in the US. Clear reason is good management doesn't overpay for the work performed. 2.2 million is cheap salary for the level of responsibility that GM's team has shouldered during the past 5 years. GM did not lose $38.7 million, it was $38.7 billion. GM, did not lose it in cash, most writers can't understand the high importance of this point. Given the above how do we improve on this article?

  • TimVorick Posted: 3/8/2008 10:03am PST

    This is just another example of a CEO being rewarded for incompetent and substandard performance. One example. How many BILLION DOLLARS did GM have to pay Fiat for the put options a while back? Many GM products are have quality issues.
    If I were a GM stockholder I would be livid! Only in America.

  • Mr J-F Houle Posted: 3/7/2008 10:38pm PST

    This a very small salary for a ceo, but this article doesn't mention that this guy has probably 10 of millions in stock options !!!