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UAW's King calls Ford CEO compensation "outrageous"


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WestVirginiaRebel
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Reuters:

(Reuters) - United Auto Workers union President Bob King said recent compensation awards for Ford Motor Co (F.N) Chief Executive Alan Mulally are "outrageous" at a time when some workers who make Ford vehicles earn $15 per hour.

"I think Alan Mulally has been a great CEO and I don't think any human being in the world deserves that much money," King told reporters after the first day of a three-day strategy conference for the UAW on new contracts for auto workers with Ford, General Motors Co (GM.N) and Chrysler. Current contracts expire in September.

"I like Alan Mulally but I just think it's morally wrong," said King. "And so will that give us more traction and more support to the membership to make sure that they get a very substantial size of that? Sure it will."

King said of stock bonuses of over $50 million awarded recently to Mulally, "I think it's outrageous, especially when there is so much poverty in this country and there are so many workers working extremely hard in the parts supplier sector and in temporary status at Ford."

Mulally is highly praised at Ford and in the auto industry for turning around Ford's fortunes since becoming CEO in 2006 without resorting to a U.S. government-sponsored bankruptcy as did GM and Chrysler.

In 2007, the UAW contracts with the three Detroit automakers allowed a wage of less than $15 per hour, about half of what veteran UAW hourly employees were paid, as parts of a concessions package to make domestic automakers more competitive during hard economic times.

King said the union this year will have to decide the point at which some concessions from 2007 can be taken back while still keeping the U.S. automakers competitive.

King said that the trend for companies to hire temporary workers instead of full-time ones is a global trend, but in a speech he made earlier on Tuesday, he once again singled out Ford for criticism.

"I used Ford as an example today because of the glaring disparity between those workers" and others who work full-time at Ford, he said.

Temporary workers "played a critical role in the success of Ford and they deserve decent middle class wages," King said.
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Union anger. It's for the temps!
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The old CEO compensation card. Negotiations have begun. I think a strike is in Ford's future. Hope they beat the union to death.

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Screw the UAW.

 

Alan Mulally saved Ford and deserves everything he gets.

 

When he left Boeing, I knew Ford would be the only automaker to survive without some kind of bankruptcy. The man is a genius when it comes to management. He SHOULD have been the next President of Boeing, but they stabbed him in the back.

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