Fix-A-Flat fund?
To the editor:
I am more than mildly interested in the outcome of the request being made by GM, Ford, and Chrysler, for a mere $25 billion stimulus/bail-out package from the U.S. taxpayers. I guess they consider themselves equally entitled to a special bonus for a totally dismal performance as the banking industry and Wall Street are in the process of botching. Theirs is only $700 billion. Why not? Let’s give this one a special name — let’s call it a $25 billion Fix-A-Flat Fund! That sounds appropriate for the auto industry.
Meanwhile, let’s take a brief view into the salaries of these three CEOs.
GM- G. Richard Wagoner, Jr.
Last year’s total compensation package was a mere $8.5 million, whereas his five-year compensation was more in line with his capabilities — $22.22 million.
Ford — Alan Mulally
It was reported on 4/5/08 he had been awarded a compensation package of merely $21.7 million for 2007. This was the year Ford reported a loss of $2.72 billion!
Chrysler — Robert Nardelli
This is a really cleaver one. His reported annual salary is only one dollar. Yes, $1!! His compensation package, however, is not published at all. Pick a number. Any number. Just remember his previous employer, Home Depot. As CEO of Home Depot, his departing compensation package was — are you ready? — $240 million. The poor guy is probably on food stamps, right?
Now I ask you. Should we buy all of this Fix-A-Flat for the auto industry or buy more imports?
R.E.Workman
Cape Coral