Jalopnik 
Enter your username and password.
Detroit, 4:50 AM
Sun Nov 22
11 posts in the last 24 hours
Tip your editors:
tips@jalopnik.com
Editor-in-Chief:
Ray Wert | Email | AIM
Road Test Editor:
Wes Siler | Email
Weekend Editor:
Murilee Martin | Email
Associate Editor - Houston:
Matt Hardigree
Associate Editor - Detroit:
Ben Wojdyla
Editor-at-Large:
Mike Spinelli
Contributors:
Mark Arnold
John Krewson | Email
Andy Didorosi
Original material is licensed under a Creative Commons License permitting non-commercial sharing with attribution.
11/11/09
11/11/09
I'll take one for the team and settle for 500k any day. #edwhitacre
11/11/09
SHUT UP, ED WHITACRE, YOU COCK! #edwhitacre
11/11/09
It should read WTF?!
You can find top-level people who will work for minimum wage. I've had lunch with homeless doctorate bearers who were literally working for food.
So then, how much is Whitacre paid? It should be a matter of public record, considering how Uncle Sam is the majority shareholder, FIA and all that. And is he worth it? Could we get some kid fresh out of college with a BA in Business Management who could do, if nothing else, no worse than GM has managed to do over the past five years? If GM's executive offices closed for a year and the lines simply kept doing what they were doing, internal expenses would plummet, there wouldn't be anyone to bitch about pay caps (the UAW might, but that's another, different can), and I strongly suspect everything would get done with no problems.
It's like a cockroach. Cut off the brain and the body keeps going. #edwhitacre
11/11/09
11/11/09
11/11/09
11/11/09
However, the government, who votes on its own pay raises while being entirely devoid of talent, is probably not going to comprehend this. #edwhitacre
11/11/09
Executives should be paid at a level that accurately corresponds with their value to the corporation. In recent years that often hasn't been happening here in the US -- and not just with the auto industry. Somehow it is considered "normal" and "acceptable" that unbridled greed has trumped basic fairness and good business practices. No wonder our economy is in the tank. #edwhitacre
11/11/09
It is these idiots being propped up by my wages that is the problem. #edwhitacre
11/11/09
It's the flip side of the UAW/competitive wage argument : If other companies are willing to pay more than 500K for execs, GM is SOL.
11/11/09
At any rate, I don't buy the argument that money is always going to be the key motivator to attracting the talent that GM needs. Essentially they need another Lee Iaccocca. When he became head of Chrysler his salary demands were quite affordable.
Think about it: Any exec with the talent to turn around GM will be more than amply compensated both in reputation and, down the road, financially. Given the stakes involved, inspired leadership will inevitably get on the cover of Time magazine and into the history books. That's career making. The money will surely follow. #edwhitacre
11/12/09
GM is not looking for the next Jesus to try their luck on, they need seasoned professionals that know what they're doing. Those people know how much they're worth, so capping their salaries amounts to shooting yourself in a foot.
All your arguments are applicable to non-Tarp companies also, which will pay their desired comp. If i turn around HP or eBay, I will get the same reputation and don't have to work for 1/10th of my market salary.
11/11/09
Maybe I'm just cynical. #edwhitacre
11/11/09
11/11/09
I am not defending them, just saying. At least in the auto companies that has been the policy for a while now. #edwhitacre
11/12/09
11/11/09
You guys should be just fine at 1200+% of that. #edwhitacre
11/11/09
11/11/09
11/11/09
I also don't exactly understand why people want such a huge income gap, I wouldn't think it's fun for the rich either who will have to spend their lives hidden behind bodyguards and such. Imagine being rich in Manila and ask yourself if it's not better to be slightly wealthy in Copenhagen. Then ask yourself which way this country wants to go. #edwhitacre
11/11/09
11/11/09
11/11/09
11/11/09
Next category, a daily double!
Subject: Douchebaggery business practices!
What will you wager? #edwhitacre
11/11/09
11/10/09
09/16/09
09/16/09
It will be sold everywhere in the world except N. America because they know people here are only interested in hybrids, and would much prefer a Prius or a Volt instead a high performance sport truck in a dazzling cobalt blue color with a great-looking set of wheels.