The key issue to Detroit and to Michigan citizens should be the huge and continuing Income Inequality Expansion which is at the core of many critical problems the US faces.
Thus I will be doing research and making posts on the average pay raise per year that the Top-Tier Executives of many large Michigan Companies were rewarded with in the past ten years.
The second Michigan Company I am addressing is the Ford Motor Company.
From annual compensation information contained in Company Proxy Statement filings with the SEC, the chart at the very bottom below shows Ford Motor Co's Top-Tier Executives Annual Total Compensation for each of two consecutive full years of employment for the most recent ten years.
Ford's Top-Tier Executive Average Pay Raise of a clean 17.0% per year for the last decade is below GM's somewhat messy 29.5% per year.
My objective is to get a better handle on just why the US and especially Michigan has such massive continuing Income Inequality Expansion ..... it appears to be predominantly about the relative long-term annual pay raise percentages, coupled with the stock price appreciation subsequent to the time the Top-Tier Executives were rewarded in their pay with stock equity compensation.
To fix Income Inequality driven mainly by Company and its Board of Director choices on Percentage Annual Pay Raises, the US Government should step in and pass wisely-designed, simple but effective Fair Pay Raise Income Inequality Narrowing Company tax incentives for rewarding non-executive employees with fair pay increases ..... the carrot ..... and Company tax disincentives for rewarding executive employees with clearly excessively high pay increases ..... the stick. I am certain ..... it is simple math ..... that this tax proposal would be very effective in substantially reducing the huge income inequality expansion that has occurred for decades in annual percentage pay raises between company executives and the rest of the company employees.
And the continuing annual net tax revenues raised by the US Government here should be set up in a separate fund to be used only for wise additional income inequality narrowing initiatives. This fund should be run by an outside group made up entirely of minorities harmed the most by Income Inequality Expansion of the past decades .....all women, all blacks, all Latinos, all other non-white people, all past and present union members, all LGBTQ, all non-employee contract workers and all middle and lower income people of all ages.
Also, the US Government should require all US Corporate Boards to include at least one worker representative and to exclude any Company Executive.
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James Hackett CEO | 17,753 | 16,732 | N/A | N/A | ||||||||||
Robert Shanks CFO | 8,420 | 6,744 | 6,744 | 6,293 | 6,293 | 5,558 | 5,558 | 6,537 | 6,537 | 4,090 | ||||
William Clay Ford Executive Chairman | 13,840 | 15,626 | 15,626 | 13,863 | 13,863 | 12,861 | 12,861 | 15,583 | 15,583 | 11,956 | ||||
James Farley President Global Markets | 5,861 | 13,474 | 13,474 | 6,609 | 6,609 | 5,805 | 5,805 | 4,691 | 4,691 | 4,261 | ||||
Joseph Hinrichs Global Operations | 5,815 | 12,125 | 12,125 | 6,724 | 6,724 | 6,418 | 6,418 | 6,309 | 6,309 | 4,410 | ||||
Mark Fields Retired CEO | N/A | N/A | 22,102 | 18,577 | 18,577 | 18,934 | 18,934 | 10,171 | ||||||
Alan Mulally Former CEO | N/A | N/A | ||||||||||||
Totals | 51,689 | 64,701 | 47,969 | 33,489 | 55,591 | 49,219 | 49,219 | 52,054 | 52,054 | 34,888 | ||||
Annual % Change vs Prior Year | -20.1% | 43.2% | 12.9% | -5.4% | 49.2% | |||||||||
5 Year Average Per Year % Change | 16.0% | |||||||||||||
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Robert Shanks CFO | 4,090 | 5,182 | N/A | N/A | ||||||||||
William Clay Ford Executive Chairman | 11,956 | 14,836 | 14,836 | 14,458 | 14,458 | 26,461 | 26,461 | 16,834 | 16,834 | 0 | ||||
James Farley President Global Markets | 4,261 | 4,597 | N/A | N/A | ||||||||||
Joseph Hinrichs Global Operations | 4,410 | 4,097 | 4,097 | 5,302 | N/A | N/A | ||||||||
Mark Fields CEO | 10,171 | 8,854 | 8,854 | 8,840 | 8,840 | 8,819 | 8,819 | 3,981 | 3,981 | 4,647 | ||||
Alan Mulally Former CEO | 23,205 | 20,956 | 20,956 | 29,498 | 29,498 | 26,521 | 26,521 | 17,917 | 17,917 | 16,975 | ||||
L W K Booth Retired CFO | N/A | N/A | 7,732 | 8,197 | 8,197 | 3,826 | 3,826 | 5,454 | ||||||
John Fleming Global Mfg & Labor Affairs | 5,916 | 3,852 | N/A | N/A | ||||||||||
Totals | 58,093 | 58,522 | 48,743 | 58,098 | 60,528 | 69,998 | 75,914 | 46,410 | 42,558 | 27,076 | ||||
Annual % Change vs Prior Year | -0.7% | -16.1% | -13.5% | 63.6% | 57.2% | |||||||||
5 Year Average Per Year % Change | 18.1% | |||||||||||||
10 Year Average Per Year % Change | 17.0% |