Formula One is in for a big shakeup next season, as the only two multiple World Champions on the grid are kicking off a game of musical chairs. Just who will end up where has yet to be figured out, but the overwhelmingly prevailing wisdom has Sebastian Vettel, who has already announced his departure from Red Bull, inking a contract with Ferrari worth 150 million pounds sterling for three years – that works out to over $80 million per year.
Reports are coming in that Mary Barra, the first female leader of a major automaker, will make $14.4 million this year, some $10 million more than previously reported and over $3 million more than her predecessor, Dan Akerson, made in 2012. In fact, it's 60 percent more than Akerson made in 2013, according to TheDetroitBureau.com.
And now...the news! Jeremy Clarkson, James May and Richard Hammond, a.k.a. the Top Gear blokes, have signed a new three-year deal to continue hosting the globally popular BBC2 program. The new deal specifies that Hammond and May will receive a share of Top Gear commercial revenue in exchange for promoting the show internationally.
Dan Akerson, the man who just recently replaced Ed Whitacre as General Motors' CEO, will be paid an annual salary of a cool $1.7 million. That's an awfully pretty penny, but Akerson indeed has his work cut out for him – The General is finally on its way to public ownership, with a stock IPO in the works for later this year.
When General Motors was on the verge of bankruptcy, cuts were made to salaried workers' pay and benefits. The move was important to help preserve as much cash as possible while also showing the federal government and the United Auto Workers that everybody in the company was making a sacrifice. Some might even say that salaried employees sacrificed more than others, as thousands were given pink slips and all lost health care benefits after age 65.
As previously reported, once Chrysler dipped its beak into the Federal coffers, the top 25 executive salaries would be capped at $500,000 per year. However, it seems the bankrupt automaker's new parent has found a way around the salary limitation by making the senior Chrysler officers Fiat employees.
After an abysmal 2005 where GM lost over $10 billion, CEO Rick Wagoner received a sizable pay cut from $2.2M to $1.28M. Yeah, we know, cry him freakin' river. The General's relative success of late, however, has convinced the board that Wagoner deserves to have his annual pay restored to the $2.2M he made from 2003-2005. While $2.2M is certainly a lot of coin, it's a drop in the bucket compared to what many CEOs are making these days.
You may be shocked and startled to find out that Takuma Sato is among the highest-paid drivers in F1. This despite his dismal driving record, reputation as an irresponsible driver, and inability to hold on to his race seat without protection from his patrons at Honda.
Ford Motor released
details of its executive compensation Friday, as part of its 2006 proxy statement to the Securities and Exchange
Commission. At the top of the list is chairman and CEO Bill Ford, whose 2005 total compensation took a big hit, falling
40 percent to $13,298,279. In all fairness, this compensation takes form of stock and stock options virtually
in its entirety. Ford has pledged to forgo any cash compensation until the company's automotive operations return to