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Tuesday, October 18, 2005

Ouch! That executive pay cut really hurt!

From the NYTimes:

Delphi Executives, Under Criticism From Workers, Agree to Salary Cuts

DETROIT, Oct. 17 - After a surge of criticism for increasing the pay of company executives while asking hourly employees to accept deep wage cuts, the chairman of Delphi said Monday that he and other managers were reducing their salaries.

The company's president, Rodney O'Neal, also said he would take a 20 percent reduction in his $1.15 million salary ...

80% * $1,150,000 = $920,000

How can anybody live on such a measly amount?

posted by Quiddity at 10/18/2005 07:52:00 AM

7 comments

Note too that this is a cut in his salary, the definition of which is the precise amount he is paid as a specific dollar amount. I'd be curious to see how much he makes if we factor in all his perks and tax free stock income.

By The Critic, at 10/18/2005 12:12 PM

Have faith in the captains of industry!

By brainhell, at 10/18/2005 2:26 PM

Yes - a sub-million salary for running a big company sounds sensible and is thus surprising.

By rilkefan, at 10/18/2005 9:24 PM

THE NAZIFICATION OF AMERICA IS ALMOST COMPLETE. ALL THE CIA/MILITARY NEEDS TO DO IS BEGIN BOMBING AMERICAN INSTITUTIONS AND BLAME IT ON “TERRORISTS.” THIS TYPE OF PLOY WORKED FOR HITLER. http://antichristiantroops.blogspot.com

By DEANBERRY, at 10/18/2005 11:04 PM

Wow... is Dean batshit crazy or what?

By Anonymous, at 10/19/2005 11:42 AM

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By Anonymous, at 10/22/2005 4:47 PM

????

By Anonymous, at 10/24/2005 1:40 AM