What Can You Get For A Dollar

Everyone loves a bargain and the current economic climate has sharpened our collective appetites, first inflation, then deflation, gas going up and then gas coming down. One thing always stays the same though, the good old dependable dollar. In these times of economic uncertainty McDonalds have developed a dollar menu. A burger for a dollar? Now that sounds like a good deal. Can the same be said for the offer being made by the big three’s CEO’s to work for a dollar each for the whole of next year? Is three dollars a small price to pay to keep the big three going? Well if it was only three dollars everybody would no doubt think it was a great deal, the problem appears to be that although THEY will work for the next year for three dollars, their companies will only work for thirty four billion dollars, now the figures don’t look quite so attractive.

So are Ford chief executive Alan Mulally and GM chairman Rick Wagoner along with Chrysler chief Bob Nardelli just doing this as a media stunt to grab headlines. Probably not, what they are doing however is trying to hang on to their extremely high paid jobs no matter how loud the cries get for them to leave.

Ford says it doesn’t actually need to use the money it is seeking from the government, more it’s just a safety net, if the worst comes to the worst Ford may need to use it, in this event Mulally has said he will work for an annual salary of a dollar. Good man. Good man that is until you take a look at his previous earnings. Mulally has, over the past two years, received nearly fifty million dollars in salary and benefits, plus $752,000 spent on personal and family use of the company's five jets. Averaged over a three year period, his salary would seem to be in the region of $16,917,333 per annum. Nearly seventeen million dollars per year for leading his company into a position where the American taxpayer must stand guarantor? Good job if you can get it.

GM’s chairman Rick Wagoner is in an even more unpleasant place than Mulally. His salary next year will be one dollar. General Motors need the money far more than Ford do and if the rumors on the street are true, they need four billion dollars just to see them past Christmas. Is he worth that extra dollar? Certainly not. General Motors has clearly been led in the wrong direction, bad decisions have been made. Under Wagoner’s leadership GM abandoned the EV-1 program and failed to invest in hybrid technology, a decision that will no doubt continue to haunt the ailing behemoth for many years to come, that is, if it survives for many years to come.

Finally Bob Nardelli, Chrysler also find themselves producing cars that don’t sell too well, especially outside their home market. The result of this mismanagement? Seven billion dollars is needed to stop the company sliding into bankruptcy. All in all, not the best resume to add to your CV.

So where is the best place to spend a dollar or three? Chicken sandwich, fries and a Coke for me please.

By: Foordy1000

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Dave Foord is the content writer for Broker4cars. If you are looking for a new ford car make sure you take a look at the new ford Fiesta or the new Ford Mondeo.