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Do you really think he will work for $1 a year?

The CEO from Ford said that he will take a major pay cut and work for only ONE dollar a year if Congress gives them the 25 billion dollar bailout. Do you really think he is being for real or just saying that?

Answer Question
 
usmc0351wife

Asked by usmc0351wife at 3:13 PM on Dec. 2, 2008 in Politics & Current Events

Level 4 (49 Credits)
Answers (20)
  • it's his buisness.. in the long run it will be better for HIM and his company if he did that.. so probably.
    krazyash023

    Answer by krazyash023 at 3:15 PM on Dec. 2, 2008

  • Is he saying that is all he will take in profits, salary, etc? Or is he just talking about his salary? Because most people employed at that level make the bulk of their money from stock options, bonuses, and things like that. The salary is just a drop in the bucket.
    BlueFrogMama

    Answer by BlueFrogMama at 3:19 PM on Dec. 2, 2008

  • Did he commit to no bonus? Seems there is always a loop hole.
    I still think they need to restructure. Chapter 11 would give them the leverage they need with the unions to renegotiate a workable contract. Plus, they need to bring down the salary of many of the upper brass in each company. We need to get realistic about our ecomomy and conserve our way out of this mess.
    QuinnMae

    Answer by QuinnMae at 3:22 PM on Dec. 2, 2008

  • sounds like bull crap to me, he didn't want to give up his private jet do you think he will really work for a dollar a year.
    mrssundin

    Answer by mrssundin at 3:22 PM on Dec. 2, 2008

  • I would imagine that he's got so much money in the bank, the lack of a year's salary isn't going to hurt him any. He would know that....

    Funny that he's not offering money out of his own accounts to save his business....
    DusterMommy

    Answer by DusterMommy at 3:25 PM on Dec. 2, 2008

  • I agree with QuinnMae. Something tells me there is a bonus or loophole. Does anyone know where we can find the details?
    grlygrlz2

    Answer by grlygrlz2 at 3:26 PM on Dec. 2, 2008

  • Sure. Because there are always other ways to get pay. His "salery" is only part of the package. There are ton of benefits that come in additon to the salery. Such as the stocks and also dividends. So while I believe it is good marketing I don't believe that it is real in terms of that the CEO is being genuin.
    frogdawg

    Answer by frogdawg at 3:37 PM on Dec. 2, 2008

  • There is a difference between getting a dollar salary and only taking home a dollar a year. Between stock options, bonuses, commissions, and everything, he will be taking home a substantial amount of money provided he gets the bailout. I do agree though that I am sure he could take some steps on his own to help repair the damage.
    Mom1Stepmom1

    Answer by Mom1Stepmom1 at 3:57 PM on Dec. 2, 2008

  • I thought Ford moved to Europe? Isn't that why the super economy efficient and green vehicles that they just made won't be available to Americans? The import tax is to high along with the price of shipping? I understand not wanting to do business in the USA because of our high business taxes (Thank you democrats!)


    But if your not willing to pay the taxes and are willing to just take your company somewhere else, IMO, you have no business asking for a bail out.

    Anonymous

    Answer by Anonymous at 4:04 PM on Dec. 2, 2008

  • He can afford it. He's probably never going to be able to spend all those million dollar bonuses he's been getting.
    Madge1428

    Answer by Madge1428 at 4:21 PM on Dec. 2, 2008

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