I got a second wind so I thought I'd read a little news. Big mistake...HUGE.
Much is being made of the CEO's of the big three automakers magnanimous offer to work for the remarkable sum of $1 annually if the government loans them 25 billion.
Let's just look at this a minute.
Alan Mullaly, President and CEO of Ford Motor company, for example, made 21.2 million dollars last year. This package, as far as we can ascertain, contained $2 million in cash, and bonuses of over $7 million. For WHAT? The damn company lost over $8 billion dollars in the SECOND QUARTER of this year alone! I can't imagine what he gets if the company MAKES money.
But back to his salary totalling $21.2 million. Let's assume that his stock options, which make up a large part of the package actually wind up being worth something when he goes home for good.
If he makes $21.2 million a year and you divide that by the full time equivalent of 2080 hours, he makes in ONE HOUR what I make in a quarter.
And they say they can't make it because of health care and pension costs.
Am I the only one to see that this is bullshit?
I'm going back to bed.
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