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59 Comments
- santiago1, on 10/12/2007, -1/+4 Hey Ford, here's an idea: instead of closing all those plants and laying off all those hard-working people, why don't you trim from the top?
Ever stop to consider that 1 exec salary = about 100 hard-working employees?
Especially considering the BS that execs do nowadays (don't do jack)
Save a company! Eliminate executives (and managers while your at it....)!
okay, I'll get offa my soapbox now...
- Goosey, on 10/12/2007, -0/+2It would be nice to see more execs take that viewpoint.
- willin, on 10/12/2007, -0/+1From the article:
Published on ZDNet News: January 23, 2006, 5:10 PM PT
So apparently its news. - Arramol, on 10/12/2007, -0/+1"but when have have one beeeeleon dollarz, why do you need 55k more?"
Why don't we ask the RIAA? - inactive, on 10/12/2007, -1/+2to all the guys who say big ***** whoop etc etc...do u realize how many ceo's take in salary in the millions of dollars and have stock options? so even if the company does miserably, they roll in their millions...CEO's who choose the $1 income solely depend on their stocks which depend on their company's performance, it shows the shareholders that they are committed and that they have something at stake too
- crash331, on 10/12/2007, -0/+1but when have have one beeeeleon dollarz, why do you need 55k more?
- verucasalt, on 10/12/2007, -2/+3they are billionaies many times over. They dont need salaries. In fact, salaries just cost them money due to tax implications.
- johnvbrennan, on 10/12/2007, -0/+1Paying themselves $1 is all well and good, it gets them a lot publicity and gets people like us talking about them and Google. That said if you have a look at the SEC filings for Google you'll see that Sergey, Larry & Eric have been busy cashing in some of their google stock which is worth a lot more that $1. See for yourself:
Sergey Brin Filings on EDGAR/SEC: http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001295032
Lawrence Page filings on EDGAR/SEC:
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001295231
Eric Schmidt Filings on EDGAR/SEC: http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001242463 - muikano, on 10/12/2007, -0/+1This isn't about 'who cares' or their rich anyways. It's about their confidence in their own company. It's about how their not a dot com. Their in it for the long haul. They want it known that their committed to increase Google's stock price to infinity. They are there to double Google's complete stock and keep the price rising.
That's what the 1 dollar signifys. It also makes those that get payed super-amounts seem like complete asses and thieve-and-runs. It's a statement and a good one. Seriously, i wish there was a way to block one sentence posts. - Metal_Hurlant, on 10/12/2007, -0/+0Not entirely unrelated article from August 2005.
http://urlx.org/online.wsj.com/64b8 - hoowahman, on 10/12/2007, -0/+0^---- really? I am surprised.
- lvlolvlo, on 10/12/2007, -0/+0you know, interestingly enough sometimes it's not the salaries that make the company's exec become the high rollers......it's the bonuses they get....do a little fact finding on your search engine of choice and you'll see that some have salaries of 650K with bonuses (incliding x-mas bonus) of 4-6 million
- Metal_Hurlant, on 10/12/2007, -0/+0it's weird how they claim to receive a $1 salary, yet each of their W-2 is guaranteed to contain at least 6 or 7 digits in box 1.
Ah, the wonder of a PR job well done.
Seriously, 250,000 restricted GOOG stock units say they're getting a huge compensation, in par with the rest of the obscenely overpaid senior executive community.
I'd like to thank Goosey, jkfan87 and jpyun (the self-advocated "***** idiot" who doesn't understand the tax implications of stock sales triggering long-term gains.) for falling for it, among others.
I wonder how angry they'll get when they see the very same executives sell massive amounts of google stock in the not so far future. Maybe they'll choose to interpret that as a clear sign executives are totally losing faith in their company, leaving the common shareholders behind to hold the bags.
Of course, that's just as outrageous as the "they have such a faith in the stock" propaganda you see today.
They're getting paid, and paid well. That is all. - link_36p, on 10/12/2007, -0/+0arent they just copying steve jobs on this?
- blanoboy, on 10/12/2007, -0/+0I would more than willingly accept their salaries for them =)
- TheSolomon, on 10/12/2007, -0/+0While this practice may have occurred prior to Steve Jobs, he is certainly the first well publicised technology related executive to take no salary (or a $1 salary, depending on what reports you read). It should also be noted Mr. Jobs also takes no salary for Pixar. And in both cases this seems to have paid off rather well for him... at least on paper.
- LeFrenzy, on 10/12/2007, -0/+0i'll tell you why Ford is doing so bad, since they're in America, they gotta pay off crazy-ass $40 million lawsuits.
If you got ***** over, sue for maximum of 1 million dollar, I'm sure it'll keep you busy for a decent time. $40 million? Stupid Americans (Calm down, I live here too).
Props to the Google guys, I would have asked for $13.37/year. - palillont, on 10/12/2007, -0/+0steve jobs ripoffs
- rompom7, on 10/12/2007, -0/+0Look in the guiness book of world record for lowest paid CEO. It isn't uncommon.
- akilleen, on 10/12/2007, -0/+0Ah yes, here it is....
http://finance.yahoo.com/q/pr?s=F - Andilinks, on 10/12/2007, -0/+0For Google execs--and especially the founders--money has long since ceased to have meaning. Marginal utility, how many airplanes can you own if you're not an airline?
I think they should draw $1.04 this year to keep up with inflation. - kungfustickman, on 10/12/2007, -0/+0Rather refreshing when you consider how much oil execs are being paid.
- Avogadro65, on 10/12/2007, -1/+1AJAX ALERT
I just tried to post a nice, well thought out 4-paragraph comment, and the captcha freaked out (incorrectly), and my post was lost. If it hadn't been Ajax, I would have been able to hit back.
Thanks Kevin. - WalkerBurgin, on 10/12/2007, -0/+0Now that shows faith in their company... being google, I think that faith is well placed.
- pussyWagon, on 10/12/2007, -0/+0big deal, Steve does the same thing.
- npodges, on 10/12/2007, -1/+1"Hey Ford, here's an idea: instead of closing all those plants and laying off all those hard-working people, why don't you trim from the top?
Ever stop to consider that 1 exec salary = about 100 hard-working employees?
Especially considering the BS that execs do nowadays (don't do jack)
Save a company! Eliminate executives (and managers while your at it....)!
okay, I'll get offa my soapbox now..."
maybe you should look into things before you spout your mouth off, but bill ford actually did turn down his salary because the company is doing so poorly. - Toshibi, on 10/12/2007, -0/+0Santiago....ever consider that the workers wouldn't have jobs if not for management and executives. You get rid of management and execs and what do you have? Mostly people without skills in marketting, contracts, an inability to get raw materials, financial insights, and for the most part there would be like 2% productivity.
It takes all of those skills to run a business and when you're talking about a huge business like ford or google or apple it has to be done as a team...workers have rights but maybe they are the ones on the floor doing their parts while the management and the execs are keeping them in a job and doing their part. - akilleen, on 10/12/2007, -0/+0"Hey Ford, here's an idea: instead of closing all those plants and laying off all those hard-working people, why don't you trim from the top?
Ever stop to consider that 1 exec salary = about 100 hard-working employees?"
Actually, if I'm not mistaken, I think there is only 1 exec pulling a salary from Ford. I will have to double check that though. - antdude, on 10/12/2007, -0/+0I think Steve Jobs does this too with Apple.
- goduke06, on 10/12/2007, -0/+0yes stevie j does this as well
- vmars, on 10/12/2007, -0/+0The tax rate you pay from a 'capital gain' from the sale of shares is much less than the tax rate from a salary. It's a simple formula and commonly used method of paying less tax to the government. It also reduces costs in the business, raises profits and thus makes the shares worth more. Win win scenario.
- antoniojvr, on 10/12/2007, -0/+0Just to settle the controversy, I'll take their salaries.
- dimatt, on 10/12/2007, -0/+0They need to be paid something
- dpk87, on 10/12/2007, -0/+0"to all the guys who say big ***** whoop etc etc...do u realize how many ceo's take in salary in the millions of dollars and have stock options? so even if the company does miserably, they roll in their millions...CEO's who choose the $1 income solely depend on their stocks which depend on their company's performance, it shows the shareholders that they are committed and that they have something at stake too"
Agreed. The money they earn is soley dependant on how successful they run th company. - _jens_, on 10/12/2007, -0/+0So it's gonna cost them $10 in accountant salary to pay them $1 each.. Why not just say $0 or
-$1.000.000 paid into a Red Cross account.
$1/year salary were only cool the first time someone did it. - rot97, on 10/12/2007, -0/+0Michael Bloomberg (NYC Mayor) gets paid 1 dollar a year.. granted he is a billionaire but I'm sure there are some more rich people who do the same thing.
- cr4wley, on 10/12/2007, -0/+0he should cut all diggers and googlers $1 salaries too : )
- nihilator, on 10/12/2007, -0/+0"When you sell stock and lock in a long-term profit (after holding it for more than a year), that is considered income in the eyes of the Internal Revenue Service. And because of that, it will increase your adjusted gross income.
So am I missing something here?"
posted by aventrix
You have it backwards. It's if you sell after holding less than 1 year. - sigginike90, on 10/12/2007, -0/+0give steve jobs a brake, every one is copying him! :P
- dpk87, on 10/12/2007, -0/+0"The tax rate you pay from a 'capital gain' from the sale of shares is much less than the tax rate from a salary. It's a simple formula and commonly used method of paying less tax to the government. It also reduces costs in the business, raises profits and thus makes the shares worth more. Win win scenario."
When you sell stock and lock in a long-term profit (after holding it for more than a year), that is considered income in the eyes of the Internal Revenue Service. And because of that, it will increase your adjusted gross income.
So am I missing something here? - dpk87, on 10/12/2007, -0/+0So if they only have a $1 salary does that mean they can't have an IRA? Not that they need one... Just wondering.
- scott1, on 10/12/2007, -0/+0And they still get better salary then I do
- surfing, on 10/12/2007, -0/+0sounds like Google might have a minimum wage issue.
- inactive, on 10/12/2007, -0/+0How big are their bonuses (5 million) and how much stock to they own 25%.
Just an example, however they are filthy rich so salaries of one 1 dollar is to avoid taxes and all the other bs. They are not the frist execs to take 1 dollar salaries. - brandizzle, on 10/12/2007, -0/+0Nice statement they're making. It's good for the publicity it gets them, if nothing else. Not that they won't end up with the same amount of the money as if they had kept their salaries...but, it's the thought that counts.
- sbraford, on 10/12/2007, -0/+0Doesn't Steve Jobs do this as well?
- Captain Irony - joeyjojo, on 10/12/2007, -0/+0The only really innovative CEO salary package I've seen is the rare case where a CEO pins his salary to that of the lowest paid employee. So that all employees work on a scale. ie, the CEO can only make 5x the janitor's salary. If a CEO did that, and calculated stock options in the same way (ie, they can only get 10x the stock that they give the janitor) then I think we'd have a much better corporate structure.
- JustMatt, on 10/12/2007, -0/+0Are you kidding me? 1336 diggs and no one dugg it just for the 1337 factor? Or maybe we are avoiding it intentionally.
- LooterMcBeer, on 10/12/2007, -0/+0~~~~"i'll tell you why Ford is doing so bad, since they're in America, they gotta pay off crazy-ass $40 million lawsuits.
If you got ***** over, sue for maximum of 1 million dollar, I'm sure it'll keep you busy for a decent time. $40 million? Stupid Americans (Calm down, I live here too)."~~~~
The lawsuits are pocket change to them they could care less the reason Ford and GM are doing so bad is because of the Unions. You realize that if there wasnt a Union that $50k escalade would cost about $30k? The $30k Mustang GT would cost about $15k? Unions are killing this country. - unsavory, on 10/12/2007, -0/+0How funny it must be for them to sit back and listen to all of this grumbling. This has been happening for thousands of years. Just look at the fat kings that sat back while their countries starved.
Yes, executives of corporations makes buttloads of money. Always have and always will. Good for them. Get over it and make your own.
If you would spend less time grumbling over something that will never change, maybe you could actually come up with your own Googlesque idea. -
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