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
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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.


All Comments

  • Posted by VetteGuy 3 years, 4 months ago in reply to this comment.
    Ah. I think you are correct. Even when I went back,it took reading it three or four times. Thanks!
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  • Posted by VetteGuy 3 years, 4 months ago
    Interesting 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.
    Reply | Permalink  

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