Looks like we found one job that should be automated by AI to save Ford 21 million dollars a year.
If you make $100,000 for 40 years straight that is $4M. This dude made $21M in a single year. Ford’s share buyback program in 2022 totaled $484M. GM’a share buyback program totaled $3.4B in the past twelve months. We live in a fucked up world. Meanwhile, Ford/GM/Stellantis employees cannot afford to even buy the vehicles they make or feed themselves decent food.
Capitalism lol
I thought he looked a lot like Chris Farley!
Tommy Boy is literally based on this loser fucking prick.
Source: Jim Farley
Here’s a little FYI for ya. Tropic Thunder is based on my experiences in Vietnam.
Just broke my brain a little bit, that crazy!
Holy shit, they’re cousins!?
He should live in a van down by the river.
Is this Guy related to Chris Farley? I definitely see some resemblance.
Yeah they’re cousins.
Holy schnikies!
Read “Bullshit Jobs” by David Graeber guys. It’s really worth it!
No one should earn that kind of money period.
Why are these posts specifically aimed at car company CEOs?
Are they begging for money in Congress again ?
Is this an anticar thing ?
Are they in union négociations ?
The American autoworkers union is currently striking due to stalled contract negotiations.
To add this for posterity, there is an additional component to the U.S. autoworkers union striking. In 2008 during the global financial crisis (with things like robosigning foreclosures, predatory loans with ballooning interest rates, etc.), some U.S. automakers were asking for government bailouts, which eventually were granted. These bailouts were entirely taxpayer funded. Now the automakers are refusing to meet union contract negotiations. Automakers not paying employees cost-of-living, or frankly, just salary increases is upsetting, but the additional hypocrisy of U.S. tax-paying citizens bailing out these companies with their own money in 2008, and then not having the companies return some of the wealth in 2023 is enraging.
Edit:
Forgot to add that when the automakers were begging for government bailouts, the automakers had to take away worker pensions and some benefits to “protect the system”. In 2023, the U.S. autoworkers union is fighting to get those benefits back for the workers.
It seems obvious the government is siding with the owners.
Because this is the trending politics community. I meant it says so right th…oh … “memes”? That’s the same thing, right?
Memes are memes
I do not see others laughing. This isn’t exactly funny. How is a CEO getting paid much more than the average worker supposed to make me laugh? This more of a news article snippet than a meme
Since when were memes exclusively meant to make you laugh? Memes have always been a means of societal commentary, think Rage Comics and AdviceAnimals plenty of the most famous ones talk about very real issues.
The “meme” is not exclusive to me. What made you have that idea?
Laughs in 20k a year.
Hope the cost of living helps offset that… what company has been stealing your labor from you?
Big Lots, worst pay to effort ratio of anywhere I’ve ever worked. Working harder than I ever have for less than I ever have until I find something else.
That sucks smelly ass, sorry to hear that, maybe try and organize once you have another job lined up? I’ll never forget working the morning shift at hardes, literally the most stressful job I have ever had, for the least pay I have ever made. I got a job at a factory and made twice the salary, but did a quarter of the work, and I had to hear the people I work with denigrate fastfood workers wanting to raise the minimum wage to $10 an hour, cause they thought they worked so much harder and only made $12 an hour. They pit us against eachother while eating caviar from fishes that are going extinct because they are actively poisoning every aspect of our society and our world simultaneously and living in opulence that make the Kings of old look modest. Shits gotta give…
What part of the country are you in?
Indiana.
Darn. I don’t have any contacts there.
But if you’ve got a clean criminal record look into city jobs. The pay isn’t usually amazing (better than yours though), but the benefits are usually really, really good.
Even in Texas I have never had to pay premiums on medical, dental, and vision for a government job, and my last 2 cities have provided 2:1 matching on my retirement plan at 7% (so I have 21% going towards pension). The guys mowing the parks get the same benefits.
I work in an IT call center and only make 25k. It’s a nightmarish routine of answering calls from customers who don’t believe in your basic right to be respected, answering to employers who believe the same.
Ford has 186,000 employees. His entire salary, divided amongst every employee, would be $112.90.
He’s certainly overpaid - like pretty much all CEOs - but this is a bad example.
Its called juxtaposition my guy, Ford also spent almost half billion on stock buybacks last year which could have been used to give every Ford Employee a $2500 bonus to share their profits, but instead they used it to buy back stocks…
And buying back the stock has the effect of making the stock price go up. And guess who gets the most stock? The CEO and C suite. They give themselves huge raises by doing this and it’s perfectly legal :(
Well see that’s a good example. Ford is a profitable business, and should be paying their employees. All I’m pointing out is that the CEO’s salary - in the specific example of this business - does not represent a significant proportion of what is being taken from the average employee. That’s most likely going to the shareholders.
The CEO’s are partially to blame, but more blame lies with the shareholders, and also the legal system that mandates the CEO’s act in the interest of the hypothetical worst, most profit-hungry shareholder.
The dividend is only 15 cent a share. It is almost 10%. It should be around 5%.
Personally I think there should be a law you can’t borrow to pay dividends. They must come from cash
Personally I think there should be a law you can’t borrow to pay dividends. They must come from cash
Fucking absolutely. But that’s a drop in the bucket of financial fuckery that goes on, which is a very big elephant in the room.
It’s a larger part than you think. It’s another part of manipulating the stock.
Companies should be regulated better. They should get tax relief when employees are paid well with good benefits. I don’t care if a company pays taxes as long as the employees are making money. They’ll translate to taxes being collected other ways.
What I can’t stand is all the bullshit waste and games.
I think layoffs should be severely punished by either taxes or forced severance.
I don’t care a ceo makes 20 million but there should be regulations to make sure they’re earning it and not just manipulating things
I mean I personally think income should be tax free up to a relatively high amount. Like 6 figures, minimum. You’re giving up your time, in service of a business which itself is in service of society, you shouldn’t have to subtract from your reward for that to give more. The business’ taxes should be covering that.
We should be heavily taxing investments, the times when people don’t actually do anything themselves but pay for things to be done, with the plan of getting money back and giving as little to those that actually did the work as possible. The business owner gives the minimum to their employees and takes all the excess for themselves.
What’s needed is a sliding tax scale where employers benefit from giving out higher mean salaries, not median, such that employees and employers both together benefit from the success of the business. If you pay your employees better, up to or maybe a little above the average income, your business gets taxed less. That’s the sort of government incentive we should be having.
This…is not a bad take. 🍻
Investments should be taxed little or zero till a certain income is produced from dividends. That’s how retired people live. That’s why certain stocks were called pensioner stocks.
Out whole tax system needs an overhaul. If a company was producing an economic advantage to the community and employees. I have no issue with them not paying taxes. We are getting it through the value they create.
The current model rewards taking from the community.
A 15 cent quarterly dividend on a $15 stock is 1%, not 10%. Ford’s annual dividend is about 4% per year.
You’re correct. Different sites show it differently.
https://www.tipranks.com/stocks/f/dividends
They showed the 10% but yes its about 5
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Sure, but Ford made a profit of 10 billion last year according to google. That means that they can give every single one of those 186k people a 6000$ raise and still be left with almost 9 billion in profit.
Yes, that’s a good example. All I’m saying is the CEO’s salary is not the root problem here. It’s more of a symptom.
Isn’t the CEO one of the main people that decide salaries? When you’re ok with you having a multimillion salary and you say that others should be happy with 60k a year… that sounds like a problem to me
The CEO decides salaries, but the CEO is also legally obliged to pursue profits for shareholders first and foremost. The issue isn’t specifically the CEO, but the infrastructure that ensures the CEO behaves maliciously towards employees and customers.
Did the post day to divide his salary to everyone or did it laugh at the thought of a living wage bankrupting his company?
No the post compared his salary to the employees earning $66,000 or above. I’m not sure what the median income is at Ford, but I’d guess it’s less than that - so really the post is only in support of less than half of the company’s workforce.
Yes, the post did just that…
…while laughing at the thought that raising the lower paid people’s salary will bankrupt his company.
Your attempt to spin the memes meaning around is an amount of reaching that I’d recommend stretching for next time
Your attempt to spin my comment into a scarecrow you can argue against is the real stretch here.
I’m not saying it isn’t ridiculous that giving a raise to employees of a profitable business would bankrupt the company. I’m saying it’s a bad example for the meme to bring up the CEO’s salary, rather than the profit of the company. The CEO’s salary is peanuts divided amongst every employee, meanwhile the company profits and shareholder dividends represent much more of the wealth that the employees have generated without being compensated for.
As an MBA, I will simply state that you all do not understand capitalism. A CEO is kind of like a sports star. They make what they make because they are making all the hard shots and keeping the team afloat. They are like the captain and coach of the team in one. It takes many years to curate the skills required to be a good CEO and there are only so many people good enough in each industry to take on the challenge. 21M is modest compared to Ford’s profits. If they provided less, he would simply move to a competitor in the same way that sports stars shop around. The idea that everyone in the company should have their salaries compared in terms of orders of magnitude of the CEO is insane. It’s like attempting to say that the janitor at a doctor’s office should have to make tens of thousands above the going rate of what a janitor’s output is worth on the open market simply because the star of the business is able to bring in a lot of money. In general, the idea that the CEO doesn’t work as hard as the line workers is incorrect. They CEO meets all day with direct reports and investors and steers the ship.
If this isn’t sarcasm, have fun steering a ship with no crew.
The market will dictate your worth. Have fun asking for too much money and not getting it.
Nothing lasts forever.
Not even capitalism.
You say the market will decide my worth. The people will decide yours
I feel like it would be more fun to respond to you with songs from my favorite albums. It doesn’t really answer a question since you didn’t have one.
You say the merket will decide my worth. The people will decide yours!
If this is the takeaway from your MBA, you fell for the propaganda
Is this sarcasm?
No. You live in a capitalist economy. This is how that system works. Market movers make money. CEO’s are the company’s superstars.
There should be sanctions on greed. It should be illegal. The amount of death and destruction it causes is insane and yet the greedy just reward themselves for it.
You are absolutely delusional, and frankly, unless you are a million/billionaire, then you have been brainwashed into thinking you are important. (Not that billionaires are important. Just that thry have fooled you into thinking you matter more than anyone else.
You can carry on believing that you dont need every cog in a machine to make it work, but it won’t make you right.
What i find so funny is that you dont se to realise that if every ceo got thanos snapped out of existance, most of the machines would continue to run for quite some time and would likely self repair that one tiny ceo shaped hole. Bit if the same happened to the underpaid workforce, the machine grinds to a halt instantly.
Im reminded of a joke where an FBI agent visits a farm and needs access to a certain field. He goes to the farmers’ house, says he needs access, and the farmwr says no. The agent shows his badge and statea he is a federal agent and that this badge means he can go where he wants, when he wants.
The farmer laughs and says ok.
Later, the farmer heres shouting and screaming outside and sees the agent running from an enormous bull in that very field. He hurridly opens the door and shouts QUICK QUICK SHOW HIM YOUR BADGE!!!
Well i hope your importance is enough to save ypu when the workforce have had enough.
I’m not saying that you need every employee to make a company run. There is a lot of waste. I’m just trying to help you understand how CEO’s work. The don’t necessarily keep their job either. The board can remove then if they aren’t making the company money. Sure, I’d like to get paid more than my quarter million or so. It really isn’t enough, but I’m working my ass off to get to the top of my ladder. It’s not necessarily the CEO at my current company, but it could be close to it somewhere else. You just don’t want to play the game. If you want a good listen, my favorite albums of all times are The Kinks - Preservation: Act 1&2. It’s a great social commentary on workers rights and getting manipulated for profit. The answer is somewhere in the middle where commerce is regulated appropriately, but not by throwing the baby out with the bath water and eating the rich. If you go too far social left, you end up in the territory of a restrictive regime. It’s confusing how that works. There are plenty of terrible governments in history that swung the socialist banner.
I get people see one-on-one comparison in salary and it can appear stark. But I do workforce management and planning for a career. The last place I worked at spent $2.1B in employee costs annually—around 17.5K active employees which is actually not that big—,while chief officers were on close to $1M. If they were canabalised, people would get a few extra bucks in their paycheck, fuck all.
The CEO got paid that well because they could handle a $2.1B employee cost company, so obviously other companies want them since few people can do that with success, so obviously they were paid their worth.
Edit: Granted, this is in Australia where there’s a lot less capitalistic energy.
Though he does get paid a lot more than his foreign counterparts of roughly same size.
