Posts Tagged ‘ceo contracts’

It is the Customer who Pays the Wages (Henry Ford)

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As Henry Ford more than  alluded to in his quote (above), the only way a company can pay wages to its workers and management is to have customers (or advertisers) support their products and services. To take this one step further, it is a successful company who has the resources to pay its employees well. With all employees, and especially those most highly placed in the organization the “value exchange” that results in fair pay is very much a two way street.

Employee commitment, ethical behavior, and working hard at the right tasks all improve company success, and with increased profits companies can pay better wages. The most vivid example of this can be seen with the CEO, although unlike most other employees the CEOs pay is set down in a contractual form. 
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The Hurd Locker Revisited

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Expert Perspective by Grahall’s OmniMedia Editorial Board
           
AP technology writers Jordan Robertson and Rachel Metz, penned an article on August 7, 2010 (Disgraced HP CEO to get about $28m in cash, stock) about Mark Hurd, the once acclaimed CEO of HP who while negotiating a $100 million three year contract with HP proved to be much less ‘smarter than the average bear’ by falsifying “… expense reports and other documents to conceal a relationship with a contractor.” It is hard to imagine that a company with a squeaky clean image like HP would tolerate such a blatant dishonesty, even if the guy may be worth upwards of $10 billion in market value to the company. (HP’s franchise value of about $100 billion, as measured by market capitalization, dropped 10% on the news of Hurd’s abrupt departure.  According to the article “HP’s shares, which closed Friday on the New York Stock Exchange at $46.30, tumbled 9.7 percent after hours to $41.85 as investors reacted to the news released after the close of markets.” The stock price has not recovered as of August 10, 2010.)
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