No Bonus for GM execs

[Hopeful]

AP
GM Execs Reportedly Won't Get Bonuses
Thursday March 29, 9:55 am ET
GM Reportedly Will Not Pay Executives Bonuses for Second Straight Year

NEW YORK (AP) -- Auto maker General Motors Corp. will not pay cash bonuses to its executives this year, according to newspaper reports Thursday.

General Motors reported a loss of $2 billion in 2006, compared to a $10.4 billion loss in 2005. The company did not pay bonuses in 2005 either. GM would not say if the decision was related to upcoming contract talks with the United Automobile Workers union, The Detroit News and The New York Times reported.

Earlier this week, American Airlines employees voiced irritation when AMR Corp. decided to award $21 million in stock bonuses at a time when airline employees were working at reduced wages.

General Motors shares rose 43 cents, or 1.4 percent to $31.67 in morning trading on the New York Stock Exchange, where they have ranged from $19 to $37.24 in the past year. The share price has risen $9.09, or 41 percent, over that time.

 

[Wretched Wrench]

Earlier this week, American Airlines employees voiced irritation when AMR Corp. decided to award $21 million in stock bonuses at a time when airline employees were working at reduced wages.

IRRITATION?

I am livid.

 

[FWAAA]

GM reports $2 billion net loss and pays out no cash bonuses to execs? After reporting a $10 billion net loss the year before? Alert the media! Stop the presses!

GM's revenue last year was nine times larger than AMR's revenue. AMR's net profit of $231 million would be like GM reporting a profit of $2.1 billion. Anybody really think the GM execs would turn down cash bonuses if GM had earned a profit proportional to that of AMR?

 

[flyhigh]

"General Motors Corp. will not pay cash bonuses..."

"...decided to award $21 million in stock bonuses..."

We're kind of talking apples & oranges here. Nice how it fails to note that all employees at AMR received stock, not just mgmt.

 

[AMFAMAN]

Nice how it fails to note that all employees at AMR received stock, not just mgmt.

A few shares that will never equal the losses from the concessions compared to managements shares that greatly exceed their losses from the concessions.

 

[flyhigh]

That's a silly assertion to make. Of the friends I have at AMR HQ who are mostly low level mgr types, they have not been made whole. They'about equal to the mechanics I know in terms of how much they got back from the options. As the executive level, you can't say that at all. How can you possible predict what level of compensation they would have received had things not gone as they had? Where would the stock be? To say they've been made whole is not at all factual. You can't say they have or haven't because we don't know. We know that most everybody isn't happy because it forced negative change upon people in a very short time span.

 

[Oneflyer]

That's a silly assertion to make. Of the friends I have at AMR HQ who are mostly low level mgr types, they have not been made whole. They'about equal to the mechanics I know in terms of how much they got back from the options. As the executive level, you can't say that at all. How can you possible predict what level of compensation they would have received had things not gone as they had? Where would the stock be? To say they've been made whole is not at all factual. You can't say they have or haven't because we don't know. We know that most everybody isn't happy because it forced negative change upon people in a very short time span.

Rational thought has no place on this board.

 

[nbmcg01]

"General Motors Corp. will not pay cash bonuses..."

"...decided to award $21 million in stock bonuses..."

We're kind of talking apples & oranges here. Nice how it fails to note that all employees at AMR received stock, not just mgmt.

i certainly do not begrudge the executives for receiving stock. I would LOVE for them to have the same 198 shares I received.

 

[flyhigh]

"i certainly do not begrudge the executives for receiving stock. I would LOVE for them to have the same 198 shares I received."

...and that would be a great solution in Venezuela or Cuba where everyone & their contribution is equal. In reality-ville, where the rest of us live, that's not how things work.

 

[nbmcg01]

"i certainly do not begrudge the executives for receiving stock. I would LOVE for them to have the same 198 shares I received."

...and that would be a great solution in Venezuela or Cuba where everyone & their contribution is equal. In reality-ville, where the rest of us live, that's not how things work.

And pray tell, just what has their "over and beyond already compensatedcontribution" included? When the f/a's furloughed employee's contribution adds up to over $200,000,000 A YEAR, they should have some remarkable statistics to show for their stock gift. Add to that what the other employees have contributed and the amount is staggering. Way to go execs!!!! I expect to see well maintained aircraft, no duck tape, clean interiors, properly staffed res, counters and flights, orders for aircraft already negotiated and JDPOWERS Awards hanging on every wall. I expect NO LESS from a management so willing to reward themselves for nothing more than the job they were hired (and comensated) to do.