Business News You Can Trust ... No Axe. No Bull. No Kidding.
New York, NY (PRWEB) December 10, 2008
Detroit's Big Three CEOs receive tens of millions in compensation while losing billions. It may not be called salary or bonus, but a big pay day just the same for ineffective management at the Big Three Automakers. Good Business International, Inc. a consumer-to-business watchdog group reports the automakers top execs were rewarded with $14-210 million dollars in compensation for 2007 as car markers experienced record losses.
"Management is the problem in Detroit -- not the economy and not the unions."
Good Business International, Inc.
Good Business International, Inc. a New York based ''better world business'' think-tank dedicated to business integrity and citizen oversight reports on total compensation for top automaker's chief executives. The outsized payouts of 14 million-210 million dollars shock readers who mistakenly believed that no salary and no bonus meant no compensation (http://www.good-b.com/the-board-room.html).
Another Day Another Dollar ... Or in the case of General Motors, Ford, and Chrysler CEOs: Another year, another 14, 21 or 210 million dollars respectively. These figures represent the total compensation paid to Big Three CEOs Rick Wagoner, Alan Mulally, and Robert Nardelli for 2007. Top managers of the Big Three will walk away for 2008 with taxpayer dollars of $10-200,000,000 for the year unless Congress restricts ''total compensation'' not just bonus and salary.
Good Business International, Inc. (GoodB) reports on secret CEO payouts in ''A Case Study of Ford CEO Pay'' revealing that Ford paid new CEO Alan Mulally $49 million over 15 months after Ford lost $3.5 billion dollars. ''Chrysler Private Equity: Brother Can You Spare 7 Billion?'' details the comp history and management failures of ousted Home Depot Chief, now new Chrysler CEO, Robert Nardelli. GoodB reveals in ''Lose 70 billion ... Earn 40 million: A General Motors Business Model'' the $14 million dollar annual pay for non-performance of CEO Chief Exec Rick Wagoner.
GoodB's Economy of Trust bloggers discuss media misreporting, US Congress' TARP plan and Bailout failures, business ethics, and what US taxpayers can do about Congressional, Treasury, and Bailout oversight (http://good-b.com/blog/). Good Business International, Inc. is a public service research and information citizen action group that reports "Business News You Can Trust ... No Axe. No Bull. No Kidding." GoodB discusses the patriotic duty of Corporate America and its leaders to sacrifice along with ordinary citizens, workers, and consumers to rebuild the broken American economy (http://www.good-b.com).
©Good Business International, Inc.