Jim "Scumbag" Farley
Jim "Scumbag" Farley
81 comments
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It's always one of the two with this companies, it's either "we're making millions" or "we're going under" there's no inbetween.
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Often both at the same time!
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"Great job team! We've increased our profits more than ever before! Now we need your help more than ever to increase profits even further. Unfortunately we cannot afford to pay our employees more, because of the great investmemts we need to make to keep increasing our profits!"
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The beauty of Hollywood accounting spreading to other industries. Ford Motor Company sells their cars for an on book loss after sales incentives like sub-prime financing through Ford Credit. Ford Credit then makes a profit due to interest payments thus wiping out the loss on the vehicle sale.
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Looks like we found one job that should be automated by AI to save Ford 21 million dollars a year.
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lol careful. you thought a CEO was heartless, just wait until we put an AI in charge with the ‘goal’ set as profit.
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Actually, if you can program it to take inputs of anonymized employee satisfaction surveys, and objective employee satisfaction data (attrition, absenteeism, etc), it could work.
Especially if the AI’s target goals are public information. Nobody would work for a company that set the “employee happiness” and “corporate ethics” dials to 0 and the “improve net profit” dial to 100.
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Yeah, it might actually promote unionising since it calculated out the sustainability of its corporate existence
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Capitalism lol
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CEOs need to take pay cuts. They earn too much and don't provide enough value for their pay.
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The rise in CEO wages is actually unbelievably ridiculous:
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For context, this research paper was also pre-pandemic.
On average, CEO salaries jumped about 30% since this research was released. Here is an updated article by the EPI EPI Research
Also for context - on 1965, average CEO-to-worker salary ratio was 20:1, and in 1985 it was 59:1.
Not it's almost 400:1.
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I thought he looked a lot like Chris Farley!
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Tommy Boy is literally based on this loser fucking prick.
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Source: Jim Farley
Here's a little FYI for ya. Tropic Thunder is based on my experiences in Vietnam.
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Just broke my brain a little bit, that crazy!
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Holy shit, they're cousins!?
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He should live in a van down by the river.
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Its called juxtaposition my guy, Ford also spent almost half billion on stock buybacks last year which could have been used to give every Ford Employee a $2500 bonus to share their profits, but instead they used it to buy back stocks...
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Read "Bullshit Jobs" by David Graeber guys. It's really worth it!
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Well yeah? If his workers make 66k how is he going to make 23 mil this year?
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Is this Guy related to Chris Farley? I definitely see some resemblance.
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Yeah they're cousins.
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Holy schnikies!
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Total revolution needed. Workers that do the real thing barely can feed their mouth, while those useless management ceo got huge cut
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No one should earn that kind of money period.
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The American autoworkers union is currently striking due to stalled contract negotiations.
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To add this for posterity, there is an additional component to the U.S. autoworkers union striking. In 2008 during the global financial crisis (with things like robosigning foreclosures, predatory loans with ballooning interest rates, etc.), some U.S. automakers were asking for government bailouts, which eventually were granted. These bailouts were entirely taxpayer funded. Now the automakers are refusing to meet union contract negotiations. Automakers not paying employees cost-of-living, or frankly, just salary increases is upsetting, but the additional hypocrisy of U.S. tax-paying citizens bailing out these companies with their own money in 2008, and then not having the companies return some of the wealth in 2023 is enraging.
Edit:
Forgot to add that when the automakers were begging for government bailouts, the automakers had to take away worker pensions and some benefits to "protect the system". In 2023, the U.S. autoworkers union is fighting to get those benefits back for the workers.
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Companies should just do a rotational CEO from their pool of workers and give the position a nice 20% salary bump for the term of the position.
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Yeah that would work great!
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Does a bit of constant chaos seems worse than the existential failure of the system every 13 years like we enjoy today?
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How could you be so heartless? How is he supposed to afford his second super yacht?
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As an MBA, I will simply state that you all do not understand capitalism. A CEO is kind of like a sports star. They make what they make because they are making all the hard shots and keeping the team afloat. They are like the captain and coach of the team in one. It takes many years to curate the skills required to be a good CEO and there are only so many people good enough in each industry to take on the challenge. 21M is modest compared to Ford’s profits. If they provided less, he would simply move to a competitor in the same way that sports stars shop around. The idea that everyone in the company should have their salaries compared in terms of orders of magnitude of the CEO is insane. It’s like attempting to say that the janitor at a doctor’s office should have to make tens of thousands above the going rate of what a janitor’s output is worth on the open market simply because the star of the business is able to bring in a lot of money. In general, the idea that the CEO doesn’t work as hard as the line workers is incorrect. They CEO meets all day with direct reports and investors and steers the ship.
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Why do you think having a MBA matters? It's a weird circlejerk for losers.
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A Master of Business Administration (MBA; also Master in Business Administration) is a postgraduate degree focused on business administration. The core courses in an MBA program cover various areas of business administration such as accounting, applied statistics, human resources, business communication, business ethics, business law, strategic management, business strategy, finance, managerial economics, management, entrepreneurship, marketing, supply-chain management, and operations management in a manner most relevant to management analysis and strategy. It originated in the United States in the early 20th century when the country industrialized and companies sought scientific management.
You seek to write-off in one stroke what has been built-upon over many centuries and siphoned into scientific disciplines. You suffer from Dunning-Kruger.
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If this is the takeaway from your MBA, you fell for the propaganda
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Anyone curious there's approximately 177k Ford employees, and 21m divides to a little over 117k a person.
The union is asking for a 40% raise over 4-5 years. So 40% total spread across 4-5 years. Average wages are 100k (60k-130k). That's 24k a person. All together is 4.3m rounding up.
He'd go from 21m to 16.5 mill, if his wages are totally stagnant, and he doesn't get any kind of yearly bonus, which I really doubt he isn't, and then also considered most CEOs make the majority of their yearly net gain in stocks alone.
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What’s a perfect day for you? Waiting in line for your government cheese?
81 comments
It probably will bankrupt him. But only because he built his business on the basis of exploiting employees. He won't make money if he doesn't do that. Which of course means he shouldn't be in business.
He is only CEO. Ford going to zero will only sting, it cannot bankrupt him.
Your point remains.
Exactly. It's not "his" company, he's just at the peak of the decision-makers, currently. If he remains (short-term) profit-focused, they'll give him a golden parachute of most of the workers' labor to safely land at another company to cut costs and terminate employees and further enrich himself...