Thread regarding Ford layoffs

The parts shortage have caused a hit of $2B so far. That means executives will have to pony up some $ so the rest of us aren't impacted by poor decision-making. There are ~50 executives so that would be $40M that each executive has to hand over.

Post ID: @1czi+1a9OXZSQ
I agree with some of your post but the driving force behind FDR's actions was to end the depression. Actually, the redistribution of wealth through taxes were began with Hoover. He raised the max tax rate to 63% prior to FDR. Hoover also tried to end the depression.
I agree with your statement about Detroit. I think the issues there began when companies beginning to move out of the city in the 1950's greatly reducing the tax base over time. I remember the low point being in the late 70's and early 80's. At least the center portion of the city is now making a strong comeback. It will never be the city it once was however.

Bill Ford = James Taggart in Atlas Shrugged
Too bad there is no equivalent of Dagny Taggart at FoMoCo

Ha, delusionaly supporting a system that benefits an extremely skilled/incredibly lucky few is exactly right! America is a nation full of people who consider themselves temporarily inconvenienced millionaires. Back in the years before 2008 and the 'Long Recession' many thought they'd ride the real estate and the marketizing of debt obligations to the millions they obviously deserved because they were such smart investors. Funny how things are looking so similar a bakers dozen years later.

@1qct, the news articles start out mentioning "total compensation" and then break it down. A common thread I've noticed over several decades is that generally the salary component is the smallest part of the package. Typically stock options are by far the biggest single component and how a BoD tries to encourage the C-level to maximize shareholder value. This is mostly conflated with maximizing profits, but they aren't the same. This is why we see CEO's gut companies in ways that make stockholders happy now but make for a worse company going forward. Look at what IBM & HP have done over time by repeatedly cutting out the highest paid employees (who really were among the best in the world at one time) to save operating costs, eventually to be the c-appy quality they are now.

What really surprised me was seeing the Big Billy gets nearly a million dollars for... "personal security"!? I thought everyone was supposed to love that guy.

@1vyw+1a9OXZSQ - the reality though is that those that managed to pull in that much filthy lucre without real skills are there due to blatant greed and for them there is no such thing as enough. Not enough for now and most definitely not enough for a lifetime. Greed knows no bounds and has good reason for being among the seven deadly sins.

@1fig+1a9OXZSQ the thing you are missing is a look at history. Take a look backwards, every time the inequities get insanely out of bounds - the working class revolts and the money is redistributed and the “salaries” are rebalanced.
Take a deep dive into FDR actions. He was from money but understood that his elite class had gotten too greedy. Money was taken from the elite and given to the working class. Labor conditions were improved, education was improved.
The greed and inequities have gotten to the point now that there will be another correction. The working conditions have deteriorated. The education system has deteriorated. Who amoung us feels Detroit is in better shape in 2021 than it was in the 1950s?

The funny part is that many think they are going to be the one who is the next CEO and get them selves some righteous money- which is delusional. Rather like children who all think they are going to be the next Michael Jordan or Larry Bird. Most children grow up and realize that will never happen. But some shift their delusions from basketball to the boardroom.
The delusional defend the system because they believe they can ultimately win if they just backstab an manipulate enough people. They usually die broken and bitter.

We are told that the exorbitant exec salaries is because that is how much their "brilliance" is worth. Ok. Then why at our Town Halls and every other communication these same people are asking the what now $64k average salary worker for their ideas and help. I'm sorry, say that again. What then are we paying them for? I think we need to be pulling back some of that salary because it doesn't cost that much for someone to sit on a screen and say help me.

Every time this news is published I see the same crybaby arguments posted on on boards all over the internet. In this instance the Ford family own the controlling instance of the company. That is an undisputed fact. They can do what they want. There is no such thing as fairness, grow-up and get over it. As always, go ahead and vent and make all the all demands for change you want, It doesn't matter. It won't happen.
This is way the corporate system operates in the most places of the free world. The only difference in the US is that in information is made public. I'm sure successful private companies pay out much more to their execs. You just don't here about it.
Maybe the simplest solution is to not publish this information any more.

Amazon CEO, Jeff Bezos, has had the same annual salary for a decade: $81,840.
The market cap of Amazon is $1.6T vs. $47.5B for Ford. If we agree the CEO should be paid on the basis of increasing shareholder value, then
Jim Farley's annual salary should be 47.5/16,000 x $81,840 = $242.96

@1vyw+1a9OXZSQ Exactly. Their base pay should be capped at 3 times GSR top salary. They should receive zero bonus $. They should receive Ford stock options that are redeemable only after 5 years, and only receive the stock options in line with their actual performance. Ford loses money, no stock options for execs. Ford botches launches, no stock options for execs. That is the only way they will have skin in the game.

Many adults have lost the basic sense of fairness that a toddler understands. Give 10 toddlers one cookie and 1 toddler 50 cookies and see the immediate reaction. If the toddler receiving the 50 cookies doesn’t share them he is shunned. Fascinating to watch.

Think about it... if you made $16.7 MM in one year or $8 MM in one year (and didn’t start the company), would you honestly care about your performance or the company you worked for? No one can honestly say they would unless they were founders like Henry Ford himself or Elon Musk; founders aren’t in it for the money. Everyone else, like our wonderful Ford exec team, honestly doesn’t give a s*** about what happens since after earning that kind of cash for one year, them and their families are set for life! If they tell you otherwise they are lying!

@pgc+1a9OXZSQ Oh sure let’s all work hard get Top Achiever and pay increases, then as you are making more money than your coworkers get terminated. Great strategy.
The loafers milking the system don’t get cut because they have a lower salary. Let’s see do I want 35 years x $100,000 (for just showing up) or 10 x 125,000 (for working my tail off)? I’ll take the 3.5 million and start a side business during Ford working hours, everyone is doing it with managers looking the other way so no reason to be the sxcker doing everyone else’s work.

@pgc+1a9OXZSQ Maybe if we purged the nepotism and good old boy filth we could potentially make Ford a legit, successful contender in the global market. That just maybe we would have a leadership team that were truly the best of the best and not the next up in the kool-aid line. That just maybe we could see a $40 stock price rather depending on PR articles to get to $12.

Really what it boils down to is the unavoidable truth is that the current "Fords " are nothing more than opportunist glomers that won the genetic lottery. Their only accomplishment is being a descendent of Henry Ford. That under any other circumstance would be fighting for the same nickels we are. Sad posers the whole lot of them. Totally dependent on the blood and sweat of others. LOSES the lot of them without their inheritance.

Post ID: @zdc+1a9OXZS
Good advice!
Maybe if we could get everyone to do that, we could drive the company into bankruptcy. That would really show them!
Oh wait, the execs and Ford family would still walk away with buckets of cash.
Oh yeah, you would be out a job. Whoops!

Outrageous pay for what they deliver.
Another reason to follow along with the majority of my coworkers and work two hours a day and goof off the rest of the day. The whole lot of executives them are jokes.
What value did Stone add? What value did Hackett add? What value does Kumar add other than being the mouth piece for all doom and gloom that Farley doesn’t want to dispel? And Farley a raging egomaniac with paper thin skin.

Anybody still drinking the "Ford Family" should have their head examined. "The Family" line is a shtick has been used for years to get employees to feel a part of some inner circle so as to get them to devote their life and endless hours of cleaning up mess after executive mess. Least you forget, these execs have been the ones making all the decisions for years. To think they give a cr@p about the average worker is a joke. We are NOTHING to them.

And the 2020 annual median total compensation for other Ford employees was $61,778. Farley AND Hackett were each paid almost 200 times that amount. With 2020 net income of NEGATIVE $1.2 BILLION from continuing operations, does anyone believe they were worth what they were paid?

Ford is clearly nothing more than a salary generating machine for the executives. My God, the money they are pulling down for the job they have done. Then they have the gall to go after people making 100x less than them, tell them they make too much and walk them out the door. Yeah, we see you – all motivated to ensure you can pay a handful of people buckets of cash. Can these people really do anything? Of course not, you need all the workers. Yet companies reward only a few and shaft the rest. Of course it is amusing the timing of this and the "feel good" Ford+ Town Hall message to the workforce to once again devote themselves to a group of executives whose sole motivation is self enrichment. Sickening.

All that pay, but this group can’t run the company to manufacture products that aren’t recalled before they are delivered to customers.