• Feb 12, 2010
To clarify, Bob Lutz is specifically talking about General Motors' top 25 execs. They are the ones who have seen their salaries decline by 31. Said Lutz, "given the rigors of the job and demands and the accountability, I would say we are being paid way, way, way below market."

Some would say that the company Lutz works for is lucky to be around at all. Still, he's got a bit of a point – the "market" decides who gets paid what, and then decides who's going to go where. If GM's salaries can't keep up with their rivals', then GM knows it's going to have to make do with what it can get. Or, heaven forbid, get really creative with the massive talent and resources it does have...

To be fair, Lutz knows the score and is only looking for the end of the tunnel, acknowledging, "You can't go through Chapter 11 and come out the other side and expect to have all of the same perks and comps as you did before. We just hope it doesn't stay this way too long." We say that it's only fitting that how long the situation lasts – until GM repays its loans – will be decided entirely by Mr. Lutz and those 25 pay-restricted executives.

[Source: The Detroit News | Source Image: Bill Pugliano/Getty]


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  • 53 Comments
      • 4 Years Ago
      Greedy Executive is greedy.
      • 4 Years Ago
      im going to enjoy these comments.
      • 4 Years Ago
      If he doesn't like the pay Lutz should go back to Chrysler... oh yeah, he drove that one into the ditch too!
      • 4 Years Ago
      Seriously, auto execs are totally underpaid. I mean could you imagine getting on with only a few million dollars? Thats awfully little money.
      (sarcasm)
      • 4 Years Ago
      They're probably some of the highest-paid government workers in the history of the U.S.
      • 4 Years Ago
      Even if Toyota's massive recall crisis, I can't see bright future of GM.
      • 4 Years Ago
      I think the Lutzt is a leader who has SOME GREAT IDEAS, but a few more dumb comments like this and you will know why Lutz rhymes with Putz! GM and their people should kiss the ground that Bush and our President walks on because most Americans did not want the deal to go through..... Most people would rather see GM and Chrysler be non union and not a second class business so prove what you are worth while you are still getting paid something!!!!!
      • 4 Years Ago
      This was a reply to let`s ride
      • 4 Years Ago
      I was involuntarily cut after 24 years of employment with GM, 3 months after they emerged from bankruptcy. I contributed to many great products now on the road and coming soon. I would give up almost anything to have my job back at a 20% reduction, even if that was fixed until I reached retirement age. No one should ever forget who is really suffering now and for a long time to come. Starting over is hell, but never for anyone in the top 25. As they say: you never know until you walk in another man’s shoes. Good luck to all who lost their careers in this mess.
      • 4 Years Ago
      Since Lutz is 800 years old and never ever retires, one cannot help to wonder what he could possibly spend his money on.
      • 4 Years Ago
      My sales manager used to say to me " your raise is effective when you are!" Maybe that old prick should be running the show. Ford's guy deserves a little extra something in his pay envelope, as does the guys from Subaru, Hyundai/Kia and Volkswagen. But GM, c'mon, they just started recovering. Sure they have some winners, but for every winner, they have two losers. When all the loans are repaid, and mess with Pontiac, Saab, Hummer, and Saturn is cleaned up, along with the faint odor from Oldsmobile, maybe then they should get more, but it won't matter to us since they will no longer be a public entity.
      • 4 Years Ago
      Now that I think about it, I haven't seen Lutz do a fly-by of the proving grounds in his fighter jet or land out here in his helicopter; times must be tough.

      I wonder if there's someplace I can send money to?
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