Tag Archive for 'executive compensation'
October 23rd, 2009 by Bill Cawthon
Chrysler Group’s deputy CEO, Jim Press, may have already received his last Chrysler paycheck. According to Kenneth Feinberg, the U.S. Treasury’s special master for executive compensation, payments already made to a senior Chrysler executive exceed the allowable maximum for companies that have received government bailouts.
Feinberg did not name specific executives, simply saying that three senior [...]
October 21st, 2009 by Bill Cawthon
Top executives at Chrysler Group will soon see a major cut in their paychecks. As soon as today, the U.S. Treasury plans to announce new limitations on executive pay packages at companies that received the most government assistance under the Troubled Asset Relief Program (TARP). In addition to Chrysler, affected companies include General Motors, American [...]
July 15th, 2009 by Bill Cawthon
In sharp contrast to tradition, where large bonuses routinely have been approved for executives of failed companies even as the firms cut thousands of jobs and ignored promises to retirees, the latest proposal to pay over $30 million to the top 100 executives at bankrupt supplier Visteon is drawing fire from all quarters.
Ford Motor Company, [...]
May 29th, 2009 by DaveAdmin
Automotive News recently published its list of salaries for automotive executives. While there is a statistically significant (if weak) correlation between total compensation and corporate profit, if you remove the top two CEOs – for Eaton and Johnson Controls – the relationship disappears completely. (This list does not include the CEOs for Ford and GM; [...]
May 20th, 2009 by DaveAdmin
Chrysler LLC has announced that C. Robert Kidder, former Chairman of Borden Chemical and of Duracell International, will become Chairman of Chrysler Group LLC, the company to replace Chrysler. The name “Chrysler Group” was used by Daimler for the former Chrysler Corporation. Full C. Robert Kidder biography
May 14th, 2009 by DaveAdmin
Reports from Auburn Hills claim that Chrysler executives, who are currently figuring out ways to avoid their obligations to suppliers, banks, and the retired engineers who created the company’s glory days, have already found a way around Federal limits on executive compensation: they will be employed by Fiat, and “loaned” to Chrysler. That will allow [...]
May 13th, 2009 by Bill Cawthon
Although Chrysler’s U.S. employee levels are the lowest they have been in 74 years, the company will be looking at more buyouts for hourly employees after the Detroit automaker emerges from bankruptcy and its alliance with Fiat is finalized.
In a letter to UAW Vice President General Holiefield, Chrysler said special attrition programs to be designed [...]
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