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CEO will accept $1 if we bailout the car companies? Opinions ?

  1. AEvans profile image69
    AEvansposted 8 years ago

    Headline News CEO will accept pay of a $1.00 if we bailout the car companies, isn't that interesting? Is this after making millions andpalcing it in his bank account that he doesnot need anymore? Why doesn't the CEOS reduce their bank accounts and put it back into their companies? Is this corporate greed or afraid of a lifestle change?

    1. mortaine profile image68
      mortaineposted 8 years ago in reply to this

      I am suspicious of any CEO in a major industry who is willing to take a $1 salary. It tells me that he has other sources of income that make his dedication to the industry suspect, at best.

  2. knolyourself profile image60
    knolyourselfposted 8 years ago

    "Headline News CEO will accept pay of a $1.00 if we bailout the car companies," What a deal. I'm flabergasted.

    1. Sterling Sage profile image77
      Sterling Sageposted 8 years ago in reply to this

      lol, like that particular CEO's salary for a year or two is really going to add up to the trillions of dollars it'll take to avoid another major depression

      "crob80227" at Current.com put it well: "Who among us wouldn't be able to live on $1 a year....if we got paid $25 MILLION the year before?"

  3. Junkster profile image59
    Junksterposted 8 years ago

    At least CEOs are actually making efforts like this, over in England we've got company bigwigs still raking in all the money, with many of them waiting for the taxpayers to eventually bail them out, and bail them out we are, what do big companies do when their workers or the general public end up not being able to make bills or loan repayments?  Nothing, or if they really want to twist the knife they'll give them their marching orders and claim it's all because of the "financial downturn"

    I think that the motor industry does need some form of help, but I don't see why it can't be a case of whoever pays for it now take a slice of ownership.

    If they did that they'd soon receive a lot of donations from the bigwigs looking for their next investment to milk, heck maybe even the average person may chip in a few dollars to get company stock or something?

  4. TheMoneyGuy profile image77
    TheMoneyGuyposted 8 years ago

    If you believe this you should read the Book.  George Washington's the Expense Account.

    Basically, George told the Continental Congress he wouldn't accept a salary and graciously asked only that his expenses be covered.  Once corrected for today‚Äôs dollars the amount he billed Congress would make even today's CEO's blush.


  5. 0
    sandra rinckposted 8 years ago

    Yip, I am sure there is some claus written into that agreement somehwhere.  Don't know much about it other then the tidbit from the news.  Maybe they will get a dollar salery but who says they can't make commisions or get money gifts or buy their own shares in stocks and collect the dividends.  wink

  6. TheMoneyGuy profile image77
    TheMoneyGuyposted 8 years ago

    All CEO's of any size company have the expense account as a part of their compensation and benefits. 


  7. TheMoneyGuy profile image77
    TheMoneyGuyposted 8 years ago

    George Washington even paid his Slaves a salary out of his expense account.

  8. 0
    sandra rinckposted 8 years ago

    Or they will just take out a loan. lol and pay it back next year!  smile  Wait, expense account.  ahahhahahahah.  crafty!

  9. TheMoneyGuy profile image77
    TheMoneyGuyposted 8 years ago

    Think about this since Legislation can directly affect profit.  Taking a politician out for a lavish night of drinking and visiting the upper echelon of the courtesan class, is very much a legitimate expense item.


    1. 0
      sandra rinckposted 8 years ago in reply to this

      isn't that sorta like lobying?