Pay Of Chief Executive Officers In U.S.

Paper Summary:

In 1997, Ford Motor Company paid a total of $10.7 million in salary, bonuses, and options to its Chairman Alex Trotman, whose bonus alone was $7 million. In that same year, Daimler-Chrysler paid Robert Eaton $6.1 million. During that same period, the workers who provide the vehicles only received 3 percent raises in 1997.

From the Paper:

"AMERICAN CHIEF EXECUTIVE'S PAY
In 1997, Ford Motor Company paid a total of $10.7 million in salary, bonuses, and options to its Chairman Alex Trotman, whose bonus alone was $7 million. In that same year, Daimler-Chrysler paid Robert Eaton $6.1 million. During that same period, the workers who provide the vehicles only received 3 percent raises in 1997. "The industry continues a two-pronged strategy to maintain healthy profits: cut costs even as they increase incentives to lure new car and truck buyers into showrooms" (Howes, 1998, ARC).

The auto executive's pay was far greater than the average of CEO pay of 3.68 million salary, bonus and long-term incentive payouts received by "the chief executives of the nation's 200 largest corporations as tracked by Pearl Meyer & Partners Inc., a New York ..."

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