Incompetent, Overpaid Waste of Skin. That's One Result of Bailouts and "Equal Opportunity". Say hello to Twentieth Century Motors.
Posted by freedomforall 3 years, 4 months ago to Politics
Excerpt:
"General Motors CEO Mary Barra reportedly received almost $30 million in compensation last year.
For one year’s work. For about nine year’s work, she has been paid about $200 million, according to the trade publication, Automotive News.
That’s nice work – if you can get it.
GM – all of it – currently has about a 17 percent market share in the U.S. It’s up slightly from the 16-ish percent GM had circa 2021 but it’s still a lot less of a share than GM’s Chevrolet division had by itself back in 1970, when then-CEO James M. Roche was paid $822,000 for the year.
The rest of GM – back then – had about a 50 percent market share.
This included GM’s Oldsmobile and Pontiac divisions, which, together, once had more market share than all of GM does today. They no longer have any market share – having been disbanded in the early 2000s due to not having much market share left by then.
Of course, $822,000 in 1970 isn’t what it is today. But it’s not almost $30 million, either.
And neither is 17 percent of what used to be 50 percent.
Adjusted for what is styled “inflation” – the term used to describe the devaluation of the buying power of money via increasing of the supply of it, as performed by the “Fed” – Roche was paid the equivalent of about $6.5 million annually back in 1970.
Put another way, Barra is being paid a bit less than five times as much as Roche was paid – for selling less than half as many cars."
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Success receives 1/5 of the reward that failure receives.
Yep, sounds like government work to me.
GM should be renamed Twentieth Century Motors and move to Starnesville.
"General Motors CEO Mary Barra reportedly received almost $30 million in compensation last year.
For one year’s work. For about nine year’s work, she has been paid about $200 million, according to the trade publication, Automotive News.
That’s nice work – if you can get it.
GM – all of it – currently has about a 17 percent market share in the U.S. It’s up slightly from the 16-ish percent GM had circa 2021 but it’s still a lot less of a share than GM’s Chevrolet division had by itself back in 1970, when then-CEO James M. Roche was paid $822,000 for the year.
The rest of GM – back then – had about a 50 percent market share.
This included GM’s Oldsmobile and Pontiac divisions, which, together, once had more market share than all of GM does today. They no longer have any market share – having been disbanded in the early 2000s due to not having much market share left by then.
Of course, $822,000 in 1970 isn’t what it is today. But it’s not almost $30 million, either.
And neither is 17 percent of what used to be 50 percent.
Adjusted for what is styled “inflation” – the term used to describe the devaluation of the buying power of money via increasing of the supply of it, as performed by the “Fed” – Roche was paid the equivalent of about $6.5 million annually back in 1970.
Put another way, Barra is being paid a bit less than five times as much as Roche was paid – for selling less than half as many cars."
------------------------------------------
Success receives 1/5 of the reward that failure receives.
Yep, sounds like government work to me.
GM should be renamed Twentieth Century Motors and move to Starnesville.
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- 1Posted by $ Markus_Katabri 3 years, 4 months agoI eagerly await the “price discovery” phase of their new model lineup.| Mark as read | Best of... | Permalink
- 1Posted by VetteGuy 3 years, 4 months agoInteresting article, but his numbers on Porsche don't look right. According to his numbers, they sold a LOT more in 1970, opposite of what he says.| Mark as read | Best of... | Permalink
- 1Posted by $ Markus_Katabri 3 years, 4 months agoAre you sure you didn’t accidentally tack the model designation number onto the sales number?| Mark as read | Parent | Best of... | Permalink
- 1Posted by VetteGuy 3 years, 4 months agoAh. I think you are correct. Even when I went back,it took reading it three or four times. Thanks!| Mark as read | Parent | Best of... | Permalink
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