08
Dec
2008
$1 Salary for Ford and GM CEO’s???
In what I think is a brilliant move, the CEO’s of Ford and GM announced they would take a $1/ year salary if the government approves the automakers’ bailout.
When I say brilliant, I am not talking about the fact they are attempting to persuade the lawmakers to approve the loan. Although that is part of the strategy. Seems to be a feeble one, however. The Senators overseeing this process aren’t stupid and may see this gesture as hollow.I say this is brilliant in the fact that the public will see the announcement as a sincere attempt by them to get their companies and the American auto industry back on track. By making this gesture, they are showing that they aren’t immune to the recession and they, too, will be taking a hit. Being empathetic to the public creates a favorable impression that they truly want to rectify the situation, and not just make themselves a profit. Whether it is true or not, remains to be seen.The other positive impression they are making relates to their employees. CEO’s of large corporations are not seen as the “common man” and do not relate well to their factory line workers and employees. This token could increase morale and confidence in the company and it’s leadership. Perception is reality and could really help them in the long run.Little do people know that there are several CEO’s and upper management that take minimal salaries such as Yahoo, Google and Apple. That doesn’t mean that they people aren’t making a fortune. Most of their compensation comes in forms of bonuses, stock options and perks.
Still, it is a nice gesture even if it is meaningless.
When I say brilliant, I am not talking about the fact they are attempting to persuade the lawmakers to approve the loan. Although that is part of the strategy. Seems to be a feeble one, however. The Senators overseeing this process aren’t stupid and may see this gesture as hollow.I say this is brilliant in the fact that the public will see the announcement as a sincere attempt by them to get their companies and the American auto industry back on track. By making this gesture, they are showing that they aren’t immune to the recession and they, too, will be taking a hit. Being empathetic to the public creates a favorable impression that they truly want to rectify the situation, and not just make themselves a profit. Whether it is true or not, remains to be seen.The other positive impression they are making relates to their employees. CEO’s of large corporations are not seen as the “common man” and do not relate well to their factory line workers and employees. This token could increase morale and confidence in the company and it’s leadership. Perception is reality and could really help them in the long run.Little do people know that there are several CEO’s and upper management that take minimal salaries such as Yahoo, Google and Apple. That doesn’t mean that they people aren’t making a fortune. Most of their compensation comes in forms of bonuses, stock options and perks.
Still, it is a nice gesture even if it is meaningless.
adam-oleary
Adam is a graduate of Colorado State University (bachelor’s degree in marketing), and he has experience on both the client and agency side of the marketing world. These experiences led him to come up with a unique, more efficient business model, which he’s incorporated into Encite Marketing. Adam sets the strategic direction for all Encite projects, developing integrated marketing campaigns that bring results. He takes a consultative approach with clients, educating them about how the process works, and keeping them in the loop about end goals, steps, and tasks.
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drivers tag
March 14, 2009Good job! …You did it!